Another week, another cryptocurrency documentary review... Although Banking on Africa: The Bitcoin Revolution, released May 22, promises something a little different. For a start, amongst the usual crypto-101 and industry-overview fare, a focus on how Bitcoin and cryptocurrency is transforming the African continent feels like a breath of fresh air. After all, wasn’t “banking the unbanked” one of the nobler use-cases for Bitcoin, before it became all about the price? In addition, most documentaries don’t have an accompanying in-depth 37-page report, allowing viewers to dive deeper into “The State of Cryptocurrency in Africa” and follow up on the topics covered …

African peer-to-peer, or P2P, Bitcoin (BTC) trading volumes have continued to increase, with the continent posting its third-consecutive all-time high for trade activity. Africa’s surging volumes come amid a plateauing in global P2P trade, with Latin America, Asia Pacific, and Western Europe posting significant declines in post-halving volume. As such, this past week saw African P2P trade overtake Latin America to rank as the second-strongest region by weekly volume for the first week on record. Regional P2P weekly BTC trade volume: UsefulTulips. Africa’s P2P markets see prolonged volume spike More than $14.6 million worth of Bitcoins changed hands between African …

A new report published by Arcane Research shows that African countries have some of the highest cryptocurrency ownership rates worldwide. South Africa ranked third throughout the world with 13% of its internet users owning or using cryptocurrencies. Nigeria took the fifth spot with 11% of internet users owning cryptocurrencies. The worldwide average for the same stands at 7%. Indeed, as Cointelegraph recently reported, Bitcoin (BTC) trading volume in Sub-Saharan Africa broke past records posted at the heights of 2017’s rally. Clear interest in crypto Arcane Research noted that Uganda, Nigeria, South Africa, Kenya and Ghana feature in the top-10 countries …

Back when digitized banking service evolutions such as debit cards, online banking and check imaging were sweeping the financial sector, one could have never imagined what was coming next. I certainly did not, having spent more than 10 years during this time advising executives of major global banks on the implementation of these game-changing technologies. The creation and digitization of new currencies, not owned by the government but by the people, has found its home in the global market over the last decade, starting with Bitcoin (BTC) and soon exploding to thousands of alternative digital currencies available for exchange and …

Binance founder and CEO Changpeng Zhao, otherwise known as CZ, believes that the African continent holds some unique opportunities for cryptocurrency adoption and development. The Binance leader provided a number of interesting insights during an exclusive “ask me anything” session hosted on Zoom for key members of the African cryptocurrency community, which Cointelegraph participated in. Binance, which has established itself as the world’s largest cryptocurrency exchange by trade volume, has slowly been opening up satellite trading platforms in a number of African countries. Uganda was the first country to welcome Binance to the continent in 2018. Binance has since launched …

Crypto investors in Sub-Saharan Africa appear to be accumulating ahead of Bitcoin’s (BTC) halving next week. According to data published by Useful Tulips, surging African demand has driven record peer-to-peer (P2P) Bitcoin trading volume across Localbitcoins and Paxful, surpassing the trade activity posted during the peak of the 2017 bull run. Nearly $10 million worth of trade took place across the P2P Bitcoin markets of Sub-Saharan Africa, comprising a new all-time high for the region. Africa’s largest crypto market, Nigeria, produced its third-strongest week of P2P trade with $7.2 million worth of Bitcoin changing hands over Localbitcoins and Paxful this …

Peer-to-peer (P2P) cryptocurrency marketplace Paxful announced on May 4 the expansion of its #BuiltWithBitcoin charitable initiative in Africa with the launch of the “Africa Fund.” The fund will use Bitcoin (BTC) donations to purchase essential resources for the fight against the coronavirus pandemic. According to the announcement, COVID-19 cases are increasing in Africa “at exponential rates.” Fundraising aims to acquire Personal Protective Equipment (PPE), food packs, and provide high-risk individuals with groceries and handwashing stations. Paxful will start the fund with $15,000 and match any additional donations submitted up to $15,000 in BTC. Speaking to Cointelegraph, Paxful CEO Ray Youseff …

When markets are bleeding, investors turn to gold. The celebrated precious metal and former reserve standard of the world’s monetary system is valuable for several reasons, but primarily because it is scarce. So scarce, that supply-chain problems with physical gold delivery are manifesting as demand surges amid the COVID-19 financial chaos. Why is gold so popular amid market turmoil? It’s the classic safe-haven asset — one that fares well when inflationary-prone fiat currencies are subject to $6-trillion stimulus packages and equity markets stray violently up and down. In some cases, gold is even known to explode during market uncertainty. Demand …

Aergo and Blocko, two blockchain firms backed by both Samsung and Sequoia Capital, announced the launch of a regional consortium intended to bolster the adoption of innovative technologies across the Middle East, African, and South East Asian (MEASEA) regions on April 27. The organization, Execution Intelligence Group (E24P) seeks to promote ‘smart’ governance, tourism, supply chain, and finance solutions that leverage blockchain coupled with artificial intelligence (AI). Currently, E24P comprises Aergo, Blocko, remittance startup Topos, Abu Dhabi’s Al Nahyan family — one of the United Arab Emirates’ (UAE) six ruling families, and “a leading UK and China-based research institute.” DLT …

Western perception of precious African resources usually tends to focus on the diamond trade. However, amid an ongoing pandemic, gold usually surfaces as both one of the most in-demand and discussed assets in the world. Historically known as a risk-off asset, meaning its price is decoupled from most financial markets, gold is a safe-haven asset sought by financial institutions and retail traders alike. While the COVID-19 fallout has sparked widespread losses across global markets, with the price of gold also falling, the precious metal usually weathers financial storms better than most assets. This is in tune with the 2008 financial …

Social payments application Bundle launched its service in Nigeria after incubation by leading cryptocurrency exchange Binance. According to an announcement on April 23, Bundle now allows its users to request, send and receive cash or crypto from their peers in Nigeria. By the end of this year, the firm plans to expand to over 30 African countries and provide a simple fiat on and off-ramp for crypto in the continent. Bundle supports Binance Coin (BNB), Bitcoin (BTC) and Ether (ETH) as well as the local fiat currency — the Nigerian naira — but there are plans to add more fiat …

Akon takes the stage at the Blockdown Virtual Conference this evening as one of the most influential figures in blockchain’s shift from niche financial tool for techies to the mass adoption of digital currencies. The creator of Akoin discussed the reasons for his transition from music sensation to philanthropist and crypto-entrepreneur with Cointelegraph Magazine. “The Mandelas... the Bob Marleys… There have been people fighting for us all the way from the Martin Luther Kings to the Malcolm X’s.” And now, Akon wants to take that fight further. Although he has been aware of cryptocurrencies since meeting Brock Pierce back in …