Africa Crypto Announcement Week: Sui Foundation Unveils Hub In Nigeria, MoneyBadger Secures $400,000 As Kenya Explores Crypto “Travel Rule”

Africa crypto update: Kenya is evaluating the “Travel Rule” in VASP as the Sui Foundation unveils a distributed database hub in Nigeria. MoneyBadger from South Africa secures $400,000.

The Sui Foundation has unveiled a blockchain hub in Nigeria aimed at enhancing the country’s developer ecosystem. In South Africa, the crypto asset startup Moneybadger has secured $400,000 in its pre-seed funding to promote Bitcoin payment solutions. Simultaneously, in Kenya, the government is working towards implementing the “Travel Rule” as part of the recently introduced VASP legislation.

These and other developments take the spotlight in this week’s continental news:

Nigeria Crypto Update: Sui Foundation Unveils Distributed database Hub in Lagos

Sui Foundation, the entity behind SUI, is investing in a distributed database hub in Nigeria to foster the country’s developer ecosystem.

This initiative expands Sui Foundation’s local engagement efforts in African and Asian territories.

Africa’s fastest-growing tech crypto market just received a significant boost.

SuiHub Lagos is operational

It’s not just a location – it’s a launchpad for Africa’s upcoming innovators.

Workshops, developer price floor, and genuine access to global distributed ledger systems. pic.twitter.com/S5DLeTqkXd

— Sui (@SuiNetwork) July 15, 2025

Lagos now joins other cities such as Dubai and Athens, where the Sui Foundation has hosted hackathons and other related initiatives.

Christian Thompson, Managing Director of the Sui Foundation, noted that the foundation will assist developers who will subsequently build on Sui and introduce impactful solutions.

“Lagos features one of the most vibrant tech communities globally at this moment. By establishing a collaborative space, Sui is providing skilled developers in Lagos the infrastructure and support needed to innovate on Sui and devise solutions with considerable global significance.”

Nigeria holds the highest population on the African continent and has a swiftly expanding trading market, with many involved as investors in the top meme crypto token ICOs.

This initiative reflects Sui’s recognition of this crucial crypto market, and the protocol anticipates benefiting in the future.

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South Africa Crypto Update: MoneyBadger Secures $400,000 To Enhance Bitcoin Payments

South African crypto asset startup MoneyBadger has secured $400,000 to advance its Bitcoin ▼-0.17% payment services across the region.

This platform is founded by Carel van Wyk, Carl Kritzinger, Ben Blaine, and Brent Petersen, with aims to strengthen its partnerships and broaden its operations.

Carel van Wyk, the founder, stated the funds will expedite partnership development and enhance service delivery to clients.

“This funding round, which was partially contributed in Bitcoin, allows us to accelerate these partnerships and extend our established services to more consumers, merchants, use cases, and regions. We envision a future where BTC can be used for any purchase.”

MoneyBadger will actively pursue more merchant partnerships to expand its Bitcoin payment capabilities.

MoneyBadger secures US$400 k to reduce friction in crypto payments

Cape Town-based MoneyBadger has successfully completed a US$400 k pre-seed funding round led by Nimble Capital. The fintech provides a stable-coin settlement API, dramatically cutting cross-border transfer fees to around 0.7%, compared to SWIFT’s 4-5%.…

— Victor de Ascenção (@victordascencao) July 17, 2025

South Africa features one of the most remarkable rates of crypto payment adoption, and this protocol strives to harness this expanding crypto market to establish itself as a leader in the industry.

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Kenya Crypto Update: Legislation To Institute ‘Travel Rule’

The Government of Kenya is contemplating enacting the “Travel Rule” under the Virtual Assets Providers (VASP) Bill, which is still being developed.

This compliance mandates cryptocurrency service providers to gather and trading platform information, including transaction histories and physical addresses, with other service providers and financial institutions with whom they operate.

This measure aligns with international standards established by the Financial Action Task Force (FATF) and corresponding global regulatory bodies.

Regulating cryptocurrencies will always pose a complex balancing challenge. This complexity arises because the original concept of cryptocurrencies, including the most promising new cryptos to invest in, aimed to provide an alternative to conventional finance.

Nevertheless, cryptocurrencies operate in a landscape where establishing functional relationships with local governments is necessary. Thus, Kenyan operators may soon confront this reality.

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The article Africa Crypto Announcement Week: Sui Foundation Unveils Hub in Nigeria, MoneyBadger Secures $400,000 as Kenya Considers Crypto “Travel Rule” was first published on 99Bitcoins.