Africa Crypto Update Weekly Recap: Circle Supports African Fund, South Africa Implements Crypto Tax Regulations, Kredete Secures $22M

This week in Africa’s cryptocurrency developments, Circle, the issuer of USDC, is supporting a fund by contributing $20M to promote the growth of blockchain startups across the continent. Circle is a significant entity in the crypto world and operates as a public company. The value of CIRCL stock has faced increasing pressure as the demand for stablecoins intensifies.

(Source: CIRCL, TradingView)

In South Africa, the government is implementing new legislation to facilitate efficient crypto taxation. Authorities aim to align with CARF standards, which address global crypto tax reporting requirements. South Africa has a favorable stance towards crypto and is increasingly adopting supportive regulations that encourage growth.

In Nigeria, the fintech and crypto startup Kredete has successfully raised $22M to enhance its international growth efforts. With the increasing acceptance of crypto in Africa, this investment will significantly aid in improving financial inclusion, enabling even more individuals to partake in some of the top meme crypto token ICOs.

DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now

Let’s take a closer look at these stories making waves across the continent this week:

Africa Crypto News: Circle Supports A $20M Blockchain Fund To Empower Startups

Circle, the provider of the second-largest USD-pegged stablecoin, USDC, is supporting a $20M distributed record initiative, CV VC, aimed at enhancing the digital asset ecosystem in Africa.

Based in the Cayman Islands, CV VC will focus on early-stage distributed record startups that streamline payments and data infrastructure in the area. 

Excited to announce that @circle_ventures has supported our CV VC African Distributed ledger Fund to advance Web3 innovation throughout Africa

As stablecoins and Web3 technology continue to thrive across Africa, we remain dedicated to backing visionary founders effecting change. We… pic.twitter.com/lxJ29gy8H7

— Brenton Naicker (@Naicker_94) September 17, 2025

Circle acknowledges the growing market demand for stablecoin-enabled services in the expanding digital asset crypto market on the continent.

Gillian Darko, Vice President of Strategy at Yellow Card, mentioned that 2025 will be regarded as the year of stablecoins.

Given that it is centered around “resolving real-world challenges,” utilizing stablecoins can help to mitigate currency fluctuations while providing businesses with enhanced access to USD.

There is validity to such optimism. Cryptocurrency transactions continue to grow on the continent, with stablecoins serving as a trading option in multiple transactions.

Investing in payment and fintech startups guarantees continued strong usage of stablecoins, which will ultimately benefit USDC. 

DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025

South Africa Crypto News:  Government Pursues Compliance with International Tax Laws

The South African government has issued draft regulations to adhere to the OECD’s Crypto-Asset Reporting Framework (CARF).

These regulations will be implemented under the country’s Tax Administration Act of 2011 and will enhance conformity with global tax and reporting norms. 

The OECD Framework, enacted in 2022, was created to tackle the challenges that crypto usage presents concerning worldwide tax regulation. With this initiative, South Africa aims to uphold its reputation with global regulators and institutions.

These regulations represent progress toward achieving compliance. 

Crypto stakeholders will have the opportunity to review and provide feedback on the rules once they are publicly available.

Upon finalization of the draft, it will be legally binding within the country.

DISCOVER: 15+ Upcoming Coinbase Listings to Watch in 2025

Nigeria Crypto News: Kredete Secures $22M For Growth

Nigerian crypto and fintech venture, Kredete, has secured $22M to advance its expansion initiatives. The network disclosed the outcomes of a Series A funding round led by AfricInvest, with contributions from Partech and Polymorphic Capital. 

Kredete was established in 2023 to enhance remittance services for Africans living abroad. Numerous Africans, particularly Nigerians, employed in foreign countries regularly send funds back home. As crypto adoption grows, some are turning to new tokens listed on Binance and other leading exchanges.

Excited to share our $22M Series A funding achievement at @kredete

In my role as Chief Product Officer, I’ve had the honor of creating solutions that simplify the process for Africans everywhere to send money, establish credit, pay securely, and access opportunities across borders.

This achievement marks… pic.twitter.com/SqrzOUwEeel

— Ebuka Arinze (@EbukaArinze_) September 15, 2025

The startup aims to enhance this sector and has even implemented credit scoring for users to access additional financial services. The protocol has also rolled out a stablecoin-backed debit card, accepted in 40 countries across the continent. 

The latest funding has raised Kredete’s total to over $24M. The venture has demonstrated significant progress during its two years of operations. It will now target markets in Europe, the UK, and Canada for further expansion.

DISCOVER: 10+ Next Crypto to 100X In 2025

The post Africa Crypto Announcement Week in Review:  Circle Supports African Fund, South Africa Implements Crypto Tax Laws, Kredete Secures $22M appeared first on 99Bitcoins.