Africa Crypto Week Summary: DePIN Summit Arrives in Kenya, South Africa Leads in Merchant Cryptocurrency Transactions, Nigeria Implements New Securities Legislation
Africa crypto updates: The DePIN Summit held in July took center stage in Kenya’s crypto landscape, while reports from South Africa highlight its leading position in merchant transactions. Could Nigeria’s recent crypto legislation ignite growth?
It’s no surprise that South Africa stands out as the continent’s most advanced crypto marketplace, largely thanks to its strength in merchant crypto transactions. Meanwhile, Kenya is set to host the forthcoming iteration of the annual DePIN Network crypto gathering. Over in the west, Nigeria has introduced a legislative framework that recognizes crypto within its securities structure.
Let’s delve into these narratives more thoroughly:
Kenya Crypto Update: Mombasa and Zanzibar to Host DePIN Event
The global entity Decentralized Physical Infrastructure Networks (DePIN) has revealed plans to conduct its annual event in Mombasa, Kenya. This focus will be on decentralized infrastructure, blockchain innovation, and sustainability.
The DePIN event is scheduled for July 2 to 5, starting in Mombasa and subsequently moving to Zanzibar, an island near Tanzania. The summit aims to unite industry experts, innovators, and decision-makers to enhance blockchain advancements across Africa. This could potentially channel investments towards some of the top cryptocurrencies to consider for 2025.
Key organizations like EV3, Share, and Threefold play essential roles in organizing the summit. Noteworthy speakers from these and other groups will contribute significantly to the event’s success.
South Africa Crypto Update: At the Forefront of Merchant Crypto Usage
South Africa is a leading crypto marketplace globally.
A study validates its position as the premier African crypto market for merchant crypto payments. This statistic is crucial as it indicates the maturity of the South African crypto market, with numerous institutional players adopting crypto for transactions.
notes from APEX, Cape Town
– incredible market for *local* stablecoin & payment focused teams
– bcoz similar to India the region has capital controls and lack of regulatory clarity (for now)
– early & talented solana community in the region (eco project employees,… pic.twitter.com/sZp0nE7a5a
— Aditya Shetty (@AdityaShetts) March 30, 2025
The nation boasts roughly 584 merchant locations that accept crypto payments, positioning it well ahead of other African markets. Interestingly, South Africa ranks sixth globally, following the USA, Brazil, Czech Republic, El Salvador, and Italy.
In contrast, nations such as Kenya and Nigeria primarily depend on peer-to-peer crypto transactions, and citizens are actively involved in some of the most exciting presales. However, South Africa demonstrates a commendable level of integration between cryptocurrency and the business landscape.
For crypto to effectively compete with and potentially supplant fiat as a transactional medium, this kind of extensive merchant adoption is essential for advancement.
Nigeria Crypto Update: New Securities Legislation—Key Insights
Recently, Nigerian President Bola Tinubu ratified the Investment and Securities Act, which classifies virtual assets and investment contracts as securities in Nigeria. This change aims to alleviate some of the ambiguities that have surrounded digital currency in the country after a challenging year of regulatory crackdowns.
This new legislation is significant for a nation where the central bank previously instructed financial entities in 2021 to cease facilitating crypto asset transactions. Earlier this year, Nigeria also made headlines for arresting a Binance executive as part of a crackdown on the trading network, which forced Binance to temporarily withdraw from this market.
The law intends to foster a more stable framework for investors while promoting transparency and adherence to global standards for issuers. Crypto stakeholders are observing these developments with caution, uptrend that this could mark a pivotal moment for the country’s crypto landscape, which has fluctuated between cooperation and conflict with the Nigerian government.
Africa Crypto News 2025: DePIN Summit in Kenya, South Africa’s Merchant Leadership, Nigeria’s New Crypto Legislation
- Kenya Crypto Summit 2025: DePIN annual gathering scheduled for Mombasa and Zanzibar in July
- South Africa Crypto Dominance: SA leads Africa with 584 merchant crypto sites, ranking 6th worldwide in adoption
- Nigeria Crypto Legislation: New 2025 securities law acknowledges virtual assets, reducing uncertainty post-Binance crackdowns
The post Africa Crypto Week Recap: DePIN Summit Visits Kenya, South Africa Excels in Merchant Crypto Payments, Nigeria Implements New Securities Law appeared first on 99Bitcoins.
