Our weekly roundup of African cryptocurrency news from the African continent includes AFRO meme coin launch, growth of service providers in Nigeria’s cryptocurrency community, Hamster Kombat failing after launch and gaining approval.
Nigerians angry after Hamster Kombat flop release
Months after Hamster Kombat, a tap-to-earn project, created a stir online, Released Before tanking. This has left Nigerians angry and feeling cheated.
Their disappointment is seen as a result of months of hard work knocking out hopes of hitting the jackpot.
However, as a result, most users received a much lower minimum payout than they expected. Anger and disappointment are evident on social media, especially as the token struggles to gain momentum.
Bitget’s User Base Expands Rapidly: Crypto Nigeria Fuels Growth
Cryptocurrency exchange based in Seychelles reported User base across Africa increased by 1,600%. Most of the growth came from the Nigerian market, one of the most active cryptocurrency markets on the African continent.
This growth is partly due to increased access to smartphones and improved internet connectivity across Africa. Every year, millions of people are using the online and Web3 spaces due to these advancements.
Bitget has also recruited key opinion leaders to spread awareness about its services. These combined efforts have significantly improved our reach.
Take a look: 4 Best Options for Buying Bitcoin in Nigeria
Afro Meme Coin Launches in Uganda
Go to Dogecoin. There’s a new sheriff in town.
Well, to the extent you say that, Afro Meme Coin Uganda’s Mitroplus Labs Africa is here to provide cryptocurrency users with an alternative meme coin experience.
Afro is themed after an African girl and was launched on the Tron blockchain.
This meme coin project aims to educate in Uganda and across Africa. The goal is to spread awareness about cryptocurrencies and present them as an empowerment tool.
The use of the African girl aesthetic is intentional because of the empowerment efforts that have taken place across the continent over the past two decades.
EA Labs Acquires Crypto Asset Services Provider
EA Labs, a South African financial services provider, acquisition Regulatory license from your country’s Financial Sector Conduct Authority.
EA Labs has obtained a Category 1 license and seeks to integrate standard banking practices into its digital solutions. South Africa has established a licensing regime for domestic cryptocurrency institutions to create a positive and structured environment for such service providers.
Regulatory progress is a boost to cryptocurrency investors seeking certainty from service providers. These efforts by regulators in countries such as South Africa are likely to have the side effect of boosting investor confidence.
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Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You may lose all your capital.