African countries are not just taking blockchain technology by the horn, they’re also tightly holding on to it. In the last few months, some countries in the region are finally realizing the great potential of cryptocurrency and its underlying technology.
In recent months, South Africa has appeared to be on the lead when it comes to adopting the new technology, with Uganda recently joining the crypto party. Now, the crypto gathering in Africa finds a new member—Kenya.
South Africa has been a frontrunner in the cryptocurrency industry in Africa. Since the beginning of 2018, the country's cryptocurrency market has seen a notable growth with more people joining each day.
The crypto bug is quickly spreading across Africa, as the popularity and adoption of virtual currencies and blockchain-based startups and hubs continue to rise in the continent.
Africa is catching the crypto wave; the domestic market growing every day with Uganda being pitched as the next cryptocurrency hotbed.
Johannesburg-based asset management company Sygnia Ltd. is planning to launch its first cryptocurrency exchange, called Sygniacoin, in the third quarter of 2018.
Bitcaw Trading Company, also known as BTC Global, has reportedly amassed funds from 28,000 people before investor payments stopped.