Africa Crypto News Week in Review:  Circle Backs African Fund, South Africa Adopts Crypto Tax Laws, Kredete Raises $22M

This week, in Africa crypto news, Circle, the issuer of USDC, is backing a fund and has seeded $20M to accelerate the growth of blockchain startups on the continent. Circle is a big player in crypto and a public company. CIRCL stock has been under increasing pressure as the stablecoin scene heats up.

(Source: CIRCL, TradingView)

Meanwhile, in South Africa, the government is adopting new laws to enable smooth crypto taxation. The government seeks to comply with CARF standards, touching on international crypto tax disclosure. South Africa is crypto-receptive and has been warming up to crypto with supportive regulations that foster growth.

In Nigeria, Fintech and crypto startup Kredete has raised $22M to boost its international expansion drive. With crypto finding adoption in Africa, this raise will go a long way in improving financial inclusion, allowing even more users to invest in some of the best meme coin ICOs.

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

Africa Crypto News: Circle Backs A $20M Blockchain Fund To Support Startups

Circle, the issuer of the second-largest USD tracking stablecoin, USDC, is backing a $20M blockchain fund, CV VC, to boost the digital asset space in Africa.

Based in the Cayman Islands, CV VC will target early-stage blockchain startups that facilitate payments and data infrastructure in the region. 

Thrilled to announce that @circle_ventures has backed our CV VC African Blockchain Fund to support Web3 innovation across Africa

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