In this article, we look at the biggest blockchain and cryptocurrency stories from the African continent in the week leading up to 3rd November 2019.
This week came with news that backed Africa’s growing trend of cryptocurrency growth. What’s more the growth sparked more developments as we saw Luno and Huobi, major cryptocurrency exchanges expanding their offerings in the African market.
Here is your weekly round-up for the week leading up to 3rd November.
Paxful was in the news this week after the P2P trading platform announced it had seen 64 percent more trades in Africa compared to the same time last year. Paxful released this info to the media, citing extreme growth in South Africa. According to Paxful, South Africa witnessed the most growth with a 2800 percent increase in trades compared to October 2019.
This news affirms reports and analyses pointing to Africa as a developing frontier in the cryptocurrency industry.
Luno, one of the most popular exchanges on the African continent added an ETH/NGN pair for Nigerian traders. Nigerian traders continue to see several major updates as this addition follows Binace’s addition of Niara deposits and trading pairs.
Anker partnered with DASH, the 19th highest hanked cryptocurrency based on market capitalization. This week, DASH got added Anker wallet and point of sale platforms. Anker is a South African based cryptocurrency merchant platform with an ATM network. Currently, Anker has 2 bitcoin ATMs in South Africa, with plans to add an ATM in all 9 provinces of South Africa.
Global exchange Huobi announced a white label solution for the Middle East which includes focussing on North America. On Thursday, Huobi Cloud, a platform that helps companies build their exchanges, was made available to the Middle East market. Exchange owners in the Middle East and North African (MENA) region can now benefit from Huobi’s existing user base while leveraging Huobi’s trading pairs and liquidity.
Bitfxt became the first Nigerian project to be listed on Coinmarketcap.com. African cryptocurrency exchange and utility token Bitfxt reached a milestone by becoming the first token from Nigeria to be listed on coinmarketcap.com.
The week wasn’t full of positive news as Tawanda Kembo, the founder and CEO of the Zimbabwean cryptocurrency exchange Golix, claims to have lost the password to one of the exchange’s bitcoin cold wallets. The cold wallet contained 33 bitcoins worth $308,426 at press time.
This report comes after claims indicating that the Reserve Bank of Zimbabwe ordered Golix to close down.
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