Africa Crypto News Week in Review:  Altvest Raises $210M To Buy Bitcoin, Luno Tokenized Stocks In Nigeria, Binance Partners With Zapper 

In Africa crypto news this week: South African finance firm Altvest Capital is set to raise $210 million to create a Bitcoin reserve treasury for its investors. Altvest is following global trends, set in motion by MicroStrategy and MetaPlanet, in adding Bitcoin to its balance sheet.

In the same market, Binance has partnered with the payment platform Zapper to scale merchant payments in South Africa. Binance is a leading crypto exchange, and expanding its presence in Africa is key. From this week, over 30,000 more merchants began accepting Binance Pay through Zapper’s rail.

Meanwhile, Luno Exchange has expanded its tokenized stock options to the Nigerian market. With Nasdaq planning to bring stocks onchain, Luno is strategic and wants to address people’s needs by allowing them to invest in top global companies with a simple press of a button.

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Let’s look at these stories making continental headlines this week:

South Africa Crypto News: Altvest To Raise $210M For Bitcoin

Finance firm Altvest Capital is set to raise $210M to buy BTC ▲0.12%. The company looks to build a Bitcoin treasury reserve to leverage the increasingly valuable asset in its portfolio.

bitcoin

Price

Market Cap

BTC

$2.31T

24h7d1y

Bitcoin has appreciated tremendously in the past decade and currently trades above $112,000. Altvest intends to change its name to African Bitcoin Corp and become a continental leader in Bitcoin investments. 

CEO Warren Wheatley said the move is strategic since “pension funds, retirement annuities, unit trusts and others usually cannot directly buy Bitcoin…..but by buying our shares they will now be able to get exposure in a regulated way through equity.”

In the United States, MicroStrategy was the first notable company to create a Bitcoin reserve, and today, it manages a billion-dollar Bitcoin portfolio.

Altvest Capital seeks to replicate this success on a continental level as Bitcoin becomes increasingly ingrained into the financial mainstream. 

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Nigeria Crypto News:  Luno expands tokenized stocks to Nigeria

South African crypto exchange Luno has expanded its tokenized stock options to the Nigerian market. The firm launched its products in the South African market a few weeks ago and has now expanded to the continent’s most populous nation.

Their tokenized stocks track some of the leading stocks globally. These stocks include Tesla, Nvidia, and more blue-chip stocks that are the gold standard for equity markets. 

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