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Kioneki Profile picture
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6 Oct, 7 tweets, 2 min read
How much funding is going into African Crypto & Blockchain startups?

Looks like crazy volumes of VC capital is flowing into Crypto blockchain startups in the rest of the world apart from Africa...
My guess is financial services related use cases rank high on the list: payments, cross border, trading & speculation etc

Central Banking regulations is still the bottleneck b/c of formal fiat rails which caps possible products and impedes onboarding
Some options

1) old fintechs pivot into crypto products eg Chipper Cash, Stax, Eversend
2) new crypto/blockchain startups emerge w/ fresh rounds of funding
3) old African crypto startups raise more money for new products/expansion/scaling
4) African banks join crypto hype train
5) Global crypto blockchain startups expand into Africa
6) Global crypto blockchain startups acquire existing African crypto startups
7) Global startups raise funding to come build crypto for Africa
8) Global crypto projects partner w/ existing African non crypto startups
Examples of

1 > Chipper cash, Eversend, Stax
2 >
3 > Buycoins Africa, Luno, Yellow card
4 > *Some banks I have worked w/ (names witheld)
5 > Coinbase, Binance
6 > *names witheld : D
7 > Fonbnk
8 > Sokowatch + FinX Defi for merchants
Favorable regulations from African Central Banks will be a multiplier for existing trend.

Its time to bet on African crypto blockchain projects

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Kioneki Profile picture
20 Sep
Regulation by Central bankers in hot African fintech markets is a market variable you have to work with / around / find loopholes. It is not a constraint that VCs or entrepreneurs can "wish away"

Lets not be naive

True of crypto as well
Wizaj, VP at Chipper Cash, African Fintech w/ $150million+ funding in 3 years was quoted saying

"40% of Chipper cash staff count is legal and compliance people"
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