Africa Crypto News Week in Review: Ethiopia Crypto Mining Revenue Boom, ViFi Labs Acquires OneRamp, Algeria Bans Crypto

South African crypto exchange VALR has become the first platform on the continent to offer tokenized American stocks. Two major crypto events are scheduled in South Africa for October and November 2025. In Uganda, ViFi Labs has acquired OneRamp, strengthening its foothold on the continent.

Meanwhile, the BTC ▲0.59% mining boom in Ethiopia is driving record revenue for the state electricity company. Up north, Algeria has taken the unfortunate stance of banning all crypto-related activities.

These, and more stories, make the continental headlines for the week:

South Africa Crypto News: Tokenization, Acquisition, And Crypto Conferences

South African crypto exchange VALR has launched tokenized U.S. stock trading on its platform, making it the first African exchange to provide users access to U.S. equities markets.

Users can now trade xStocks, a representation of U.S stocks on the Solana blockchain.

Solana

Price

Market Cap

SOL

$98.30B

24h7d30d1yAll time

The xStocks token, created by Backed in May, allows VALR users to track their favorite U.S. stocks, such as Tesla and Amazon, with the convenience of crypto trading.

VALR goes live with xStocks, pioneering tokenized U.S.-listed equities in South Africa and the continent.#ProTradingForEveryone #MoneyForTheWorld pic.twitter.com/3AvQtBIARQ

— VALR (@VALRdotcom) July 31, 2025

Meanwhile, Peach Payments and Moneybadger have partnered. Peach Payments aims to leverage its first deal with a crypto service provider to offer more choices to its consumers.

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Millions of South Africans now own crypto and make payments using virtual assets. Peach Payments aims to attract users interested in using this utility for crypto payment options.

Bitcoin Events has also announced that Blockchain Africa Conference 2025 and CryptoFest 2025 will occur in South Africa. The Blockchain Africa Conference will be held in Johannesburg on October 30, 2025, while CryptoFest is scheduled for mid-November in Cape Town.

Algeria Crypto News: Sweeping Ban on Crypto

The Algerian government has enacted a comprehensive ban on all digital asset activities to protect the national currency.

Algeria has officially banned all crypto-related activities. It is now treated as a financial crime under anti-money laundering and anti-terrorism laws.

Hard to believe that in 2025, some African countries still view crypto as a crime. pic.twitter.com/gE9dnLO2yu

— Specter (@SpecterAnalyst) July 31, 2025

The ban, effective July 24, 2025, was announced through a publication. Cited reasons include combating terrorist financing, preventing fraud, and curbing unwarranted speculation.

These measures place Algeria at the end of the spectrum, as most countries permit crypto activities within regulated frameworks.

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Uganda Crypto News: ViFi Labs Acquires OneRamp

Decentralized protocol ViFi Labs has acquired Ugandan platform OneRamp, a rising player in local crypto payments.

ViFi aims to strengthen its foothold in strategic African markets and expand to Latin America.

We're excited to announce we've acquired @0xOneRamp !

The platform makes it easy for people to spend crypto for day-to-day purchases, blurring the gap between the complexity of stablecoins and fintech payments.

Here's why

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