August 12, 2025
Africa Crypto Update Weekly Summary: Surge in Ethiopia’s Crypto mining Earnings, ViFi Labs Purchases OneRamp, Algeria Enacts Crypto Ban
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Africa Crypto Update Weekly Summary: Surge in Ethiopia’s Crypto mining Earnings, ViFi Labs Purchases OneRamp, Algeria Enacts Crypto Ban

Aug 9, 2025

The South African cryptocurrency exchange VALR has distinguished itself as the first protocol on the continent to provide tokenized American stocks. Two significant digital currency events are set to take place in South Africa during October and November 2025. In Uganda, ViFi Labs has purchased OneRamp, enhancing its presence across the region.

At the same time, the btc logoBTC ▲0.59% block rewards surge in Ethiopia is generating unprecedented revenue for the national electricity provider. Up north, Algeria has adopted the unfortunate measure of prohibiting all crypto-related activities.

These developments, along with additional stories, are making headlines across the continent this week:

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

The South African cryptocurrency exchange VALR has introduced tokenized trading of U.S. stocks on its network, becoming the first African exchange to grant users access to U.S. equity markets.

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

Solana
Price
Crypto market Cap
SOL
$98.30B
24h7d30d1yAll time

The xStocks crypto token, which was created by Backed in May, allows users of VALR to monitor their preferred U.S. stocks, including Tesla and Amazon, with the ease of crypto asset trading.

In parallel, Peach Payments and Moneybadger have collaborated. Peach Payments intends to capitalize on its inaugural collaboration with a crypto service provider to broaden its offerings to consumers.

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A multitude of South Africans are now engaging in digital currency and utilizing virtual assets for payments. Peach Payments aims to appeal to those interested in utilizing these features for crypto payment methods.

BTC Events has also disclosed the upcoming Distributed database Africa Conference 2025 and CryptoFest 2025 to be held in South Africa. The Distributed record Africa Conference is scheduled for Johannesburg on October 30, 2025, while CryptoFest is planned for mid-November in Cape Town.

Algeria Crypto News: Comprehensive Ban on Crypto

The Algerian government has implemented a broad ban on all digital asset operations to safeguard the national currency.

This ban, effective from July 24, 2025, was made public via a statement. Justifications include fighting terrorist financing, reducing fraud, and limiting speculation.

These steps place Algeria on the far end of the spectrum, while many other nations allow crypto activities within regulated environments.

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Uganda Crypto News: ViFi Labs Takes Over OneRamp

The decentralized platform ViFi Labs has taken over Ugandan entity OneRamp, a growing contributor in local crypto asset transactions.

ViFi seeks to strengthen its presence in key African markets while expanding into Latin America.

OneRamp sets itself apart by allowing for effortless stablecoin integration with mobile money systems and bank accounts, enabling straightforward crypto payments for routine services.

The adoption of mobile money in Sub-Saharan Africa has been impressive, which could potentially enhance the broader utilization of crypto asset. ViFi Labs intends to capitalize on this growth for its regional expansion plans.

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Ethiopia Crypto News: BTC Block rewards Fuels Energy Revenue Surge

The Bitcoin mining industry in Ethiopia is producing enormous revenue for the state electricity company.

Ethiopia Electric Power reportedly generated an extra $55 million in the last 10 months from block rewards efforts, aiding rural electrification projects.

The excess hydroelectric energy surpasses local industrial requirements. Cryptocurrency crypto mining, often criticized for its high energy consumption, creates a perfect crypto market for this surplus energy.

This scenario presents a mutually beneficial situation, showing that Bitcoin mining can be viable in regions with advantageous energy conditions.

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Africa Crypto News: Ethiopia Mining Surge, Algeria Crypto Ban

  • Ethiopia crypto highlights: Bitcoin and cryptocurrency mining generates unprecedented revenue for the state electricity provider
  • Uganda crypto highlights: ViFi Labs acquires OneRamp, promoting stablecoin integration for mobile payment
  • Algeria crypto highlights: Government implements an extensive ban on digital currency activities, citing fraud and terrorist financing issues 
  • South Africa crypto highlights: VALR tokenizes U.S. stocks on the Solana platform 

The article Africa Crypto Announcement Week in Review: Ethiopia Block rewards Revenue Boom, ViFi Labs Acquires OneRamp, Algeria Bans Crypto was first published on 99Bitcoins.

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