Stablecoins Surpass 15% of Crypto Market as $USDC Gains on $USDT

When you look at crypto rankings, you will see 3 stablecoins in the top 10 digital currencies:

* Tether ( $USDT) @ $68.5B
* USD Coin ( $USDC) @ $54.3B
* Binance USD ( $BUSD) @ $17.3B

https://bitcoinke.io/2022/06/stablecoins-surpass-15-percent-crypto-market-cap-on-usdt/

EXPLAINER GUIDE: How To Use the Sarafu Network and Get Sarafu Tokens Using USSD Shortcodes in Kenya 🇰🇪

Sarafu is the most successful and practical deployment of blockchain-based tokens in real-world use case in Kenya.

The network has transacted millions of dollars with over 50K users, and having already been deployed by the Kenya Red Cross in humanitarian efforts.

Sarafu is currently being used in low-income neighborhoods in Kenya to substitute for a lack of physical cash when purchasing goods and services.

To try out Sarafu for yourself and community / friends today, you’ll need to follow three simple steps:

https://bitcoinke.io/2022/06/how-to-get-and-use-the-sarafu-network-tokens/

EXPLAINER GUIDE: How to Purchase $USDC Using Kenya Shillings (KES)🇰🇪 on MoneyGram

Unlike most wallets, you also get a username that people can select when they are sending funds to you.

One of the things that you can do with the service includes:

* Get $USDC for cash
* Get cash for $USDC

https://bitcoinke.io/2022/06/how-to-purchase-usdc-using-kenya-shillings-on-moneygram/

Binance Targets VIP Clients and Institutions with New Service

Here is a list of some of the groups and individuals targeted by Binance Institutional:

* Asset Managers
* Brokers
* Hedge Funds
* Family Offices
* Proprietary Trading Firms
* Liquidity Providers
* HNWIs
* Mining Companies

What will the product offer the above? Check out this post for details:

https://bitcoinke.io/2022/06/binance-targets-vip-clients-and-institutions/

🇺🇬 Seeks CBDC Lessons from 🇳🇬

In a tweet, the Central Bank of Nigeria (CBN) indicated that Governor, Godwin Emefiele, had advised visiting Bank of Uganda officials on the establishment of a Central Bank Digital Currency (CBDC).

https://bitcoinke.io/2022/06/uganda-seeks-cbdc-lessons-from-nigeria/

9 Out of 13 African Countries Chasing CBDCs Are in Research Phase, Says The IMF

African countries researching CBDCs are:

🇰🇪
🇲🇬
🇲🇺
🇳🇦
🇷🇼
🇹🇿
🇺🇬
🇿🇲
🇿🇼

https://bitcoinke.io/2022/06/13-african-countries-chasing-cbdcs-says-imf/

Nigeria’s Xend Finance Hits 100K Users and Enables Local Currency Conversions to StableCoins

Xend Finance, a leading Decentralized Finance (DeFi) platform in Africa, has announced it has crossed 100, 000 users on its savings platform.

The Binance and Google Launchpad-backed company will also now allow users from Ghana and Kenya to convert their local currency – Cedis and Shillings – to stable cryptocurrency and save.

Recognizing the milestone, CEO and Co-Founder of Polygon, Sandeep Nailwal, said: .......

https://bitcoinke.io/2022/06/xend-finance-hits-100k-users/

Bank of International Settlements (BIS) Proposes Letting Banks Hold 1% of Reserves in #Bitcoin

This was revealed in its consultative document titled ‘Second consultation on the prudential treatment of cryptoassets,’ published in June 2022.

https://bitcoinke.io/2022/07/bis-proposes-letting-banks-hold-reserves-in-bitcoin/

[WATCH] FBI Offers $100,000 for Most Wanted Crypto Fugitive, ‘CryptoQueen’ – Founder of OneCoin

The security agency says Ignatova is the newest addition to its 10 Most Wanted Fugitives List. Ruja wanted for allegedly leading crypto fraud scheme

See details:
https://bitcoinke.io/2022/07/cryptoqueen-most-wanted-crypto-fugitive-by-fbi/

The Second of the 3 Public Ethereum Testnets, Sepolia, Transitions to PoS Ahead of Full Merge

This event means Ethereum is one more step closer to create a full PoS Ethereum blockchain.

See full details here:

https://bitcoinke.io/2022/07/sepolia-transitions-to-pos/ @ethereum

Chairman of Capital Markets Authority of Kenya🇰🇪 (CMA Kenya) Reportedly Welcomes Crypto Innovations to CMA Kenya Sandbox

CMA Kenya will accommodate crypto startups to its sandbox, according to Chairman, Nicholas Nesbitt

In 2021, the regulator disclosed that out of 24 applications submitted to the sandbox since March 2019, at least 9 have been related to blockchain technology and tokenization of real estate. However in an exclusive BitKE article, CMA admitted that they had faced several challenges with blockchain firms in the sandbox.

See details here:
https://bitcoinke.io/2022/07/cma-kenya-reportedly-welcomes-crypto-innovations-to-the-sandbox/

Celo Announces Web3 Fund for African Startups Looking to Transition From Web2

Up to 50 successful applicants will secure access to equity investors, venture capital funding, technical and business mentorship, marketing support, and DEX Listings

See details and deadlines for applications:

https://bitcoinke.io/2022/07/celo-announces-web3-fund-for-african-startups/

Why is this UN Body Pushing for Developing Nations in Africa to Regulate CryptoCurrencies?

The United Nations Conference on Trade and Development (UNCTAD) says crypto could replace ‘domestic currencies.’

https://bitcoinke.io/2022/07/unctad-pushing-for-developing-nations-to-regulate-crypto/

[WATCH] Ethereum ( $ETH ) Price History Bar Chart in the Last 7 Years (November 2015 – May 2022)

The video highlights the progress of Ethereum's value over time covering different ups and downs from November 2014 - May 2022.

https://bitcoinke.io/2022/07/ethereum-price-history-over-the-last-7-years/

Mercy Corps is Piloting a Buy Now Pay Later Product for Street Food Vendors in Kenya🇰🇪 by Leveraging DeFi

The pilot, in partnership with Kwanza Tukule, a company that helps small food vendors across Kenya get their supplies, will test the provision of cheaper and short-term capital to MSMEs in Nairobi (including informal food vendors, micro-retailers, and gig economy drivers).

Liquidity providers globally will deposit fiat currency into the SympliFi platform bridged to a stablecoin and into Kenya Shillings

See the pilot details here:
https://bitcoinke.io/2022/07/bnpl-defi-pilot-for-street-vendors-in-kenya/

Bank of Central African States Now Considering Joint CBDC for 6 Francophone African Countries

The board of the Bank of Central African States (BEAC), the regional bank for the Economic and Monetary Community of Central Africa (CEMAC) member states, is asking the bank to launch a Central Bank Digital Currency (CBDC).

BEAC stated roles include:

* Manage the region’s monetary policy
* Issue currency
* Drive the exchange rate of the region
* Manage the foreign reserves of the member states
* Facilitate payments and settlement systems

https://bitcoinke.io/2022/07/beac-considering-joint-cbdc/

SeedStars Launches $30 Million Emerging Market Fund Targeting Seed Stage Startups

Since 2013, they have supported over 90 emerging market venture ecosystems. In June 2019, its pitching competition in Kenya had 10 pitchers, including 3 blockchain-based.

https://bitcoinke.io/2022/07/seedstars-launches-30-million-dollars-emerging-market-fund/

Kenya🇰🇪 CBDC Will Derail ‘Remarkable’ Fintech and M-PESA Progress, Warns IMF

The IMF urged Kenya to offer assurances that the CBDC would not 'substitute' existing innovations, but instead, would 'complement.'

IMF also raised doubts over the feasibility of the central bank sharing CBDC data to support private lenders saying . . . .

https://bitcoinke.io/2022/07/kenya-cbdc-will-derail-fintech-progress-warns-imf/

How This Kenyan Solana NFT Project Raised 1,000 $SOL to Create Over 1,000 Jobs in Africa’s Largest Slum

Through an initiative they called 'Pandas not Plastic Initiative,' they sought 1,000 $SOL, with degens as well as other $SOL holders, contributing small amounts on fundraising platforms such as Stata Protocol.

Some of the community members also minted degen Panda NFTs with funds going to the fundraise.

This post explores the project and how it was able to raise the funding:

https://bitcoinke.io/2022/07/kenyan-solana-nft-project-raises-1000-sol/

Top 10 Largest Raises in Crypto in Q2 2022

When it comes to the top 10 Q2 2022 deals, Epic Games leads the way with a $2 billion investment from the likes of Sony, as the video games developer pursues Web3.

Here is the list of the largest raises in Q2, 2022 (No.6 is a fast-growing protocol in Africa):

https://bitcoinke.io/2022/07/top-10-largest-raises-in-crypto-in-q2-2022/