Africa Crypto Week Recap: Zimbabwe Distributed record Carbon Register, ZAP Africa Restoring Trust in Nigeria

Africa crypto updates: Zimbabwe introduces a blockchain-based carbon credit registry to enhance transparency, while ZAP Africa aims to restore confidence in the Nigerian crypto realm following the CBEX debacle. Will the suggested 5% remittance tax in the U.S. encourage crypto use in Africa?

The Zimbabwean government intends to leverage blockchain technology to restore the integrity of its carbon credit trading market. International investors have expressed hesitance to participate in this trading market due to transparency issues. Simultaneously, ZAP Africa is striving to repair some of the reputational harm inflicted by exchanges like FTX and CBEX in the crypto scene. On a global scale, the proposed tax on remittances sent back home by immigrants in the United States may create new prospects for crypto services.

Let’s delve into these stories making headlines throughout the week on the continent:

Zimbabwe Crypto Update: Launch of Blockchain Carbon Trading Registry

The Zimbabwe Carbon Markets Authority has unveiled a distributed ledger carbon-credit registry aimed at improving transparency in its carbon credit industry. This initiative follows the government’s efforts to restore credibility in its carbon trading market, which has faced several years of inconsistent policy changes.

The adoption of a blockchain framework is intended to rebuild investors’ trust in the industry.

The global carbon credit market is expanding, with Gulf and Western nations and businesses looking to mitigate their carbon footprints through credits from developing nations.

The Zimbabwean authorities expect this initiative to be vital in enhancing the country’s international reputation.

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Nigeria Crypto Update: ZAP Africa’s Rebuilding Efforts

The crypto asset exchange ZAP Africa is working to restore the credibility of crypto exchanges in Nigeria.

Co-founder Tobi-Asu Johnson asserts that their initiatives are fueled by the reputational setbacks caused by international platforms like FTX and Celsius.

The local collapse of the CBEX trading network has left countless Nigerians in a difficult position, further tarnishing the industry’s image.

ZAP enables users to swap cryptocurrencies and provides bank-to-crypto trading platform options, indirectly allowing African investors to tap into some of the 1000X crypto opportunities. Additionally, their focus on minimizing custodial holdings is one strategy to lower risks within the trading platform.

Swap your crypto to fiat at the best rates, faster and easier.

Tell a friend to tell a friend pic.twitter.com/VG4xKuEd8T

— Zap Africa (@getzapnow) May 14, 2025

In light of the negative publicity surrounding the CBEX failure, this initiative must be deliberate and ongoing.

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Africa Crypto Update: Proposal for a 5% Remittance Tax

The Trump administration is contemplating imposing a 5% levy on remittances sent by non-citizens in the United States as part of its broader immigration reform agenda.

Remittances from immigrants originating from African, Latin American, and South Asian nations significantly contribute to their economies and price floor families back home.

This proposal could have immediate consequences for nations like Nigeria, which receives billions in remittances intended for families back home. A majority of these transfers occur through digital platforms like PayPal, which will likely impose the tax when instructed to by the U.S. This situation could compel some immigrants to seek alternatives, thereby increasing the adoption of certain top cryptos to invest in, including Bitcoin.

(BTCUSDT)

Crypto asset is intrinsically borderless. Consequently, authorities may find it challenging to enforce a tax on such transactions. Although this proposal might seem severe, it could actually promote crypto adoption, as more immigrants may favor crypto solutions over conventional remittance methods.

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The article Africa Crypto Week in Review:  Zimbabwe Blockchain Carbon Registry, ZAP Africa Rebuilding Trust in Nigeria was first published on 99Bitcoins.