Week in Crypto: Top African Blockchain News (March 10 – March 16, 2025)

March 16, 2025

Top Headlines

PAPSS to Launch African Currency Marketplace in 2025 – The Pan-African Payments and Settlement System (PAPSS) plans to introduce a platform enabling direct exchanges of African currencies, aiming to enhance cross-border trade. Source: Reuters.

2. Rwanda Invites Public Comments on Draft Law Regulating the Virtual Assets Business – The draft law places virtual assets and service providers (VASPs) under Rwanda’s Capital Markets Authority (CMA), which will set licensing requirements. Source: BitKe

3. 23 African Startups Successfully Completed the Inaugural Lisk Blockchain Incubation Hub, Receiving $196K in Grants– With $196,000 in grants, startups gained 26,000 users, tokenized $1.8M in assets, and processed 20,000+ blockchain transactions. Source: BitKe.

4. Binance Blocks Nigerian Users from Free Token Rewards and Airdrops Amidst Ongoing Regulatory Crackdown – Binance has limited access to its free token airdrops in Nigeria, further complicating its already tense relationship with the country. Source: Tawk Crypto.

5. Yellow Card Partners with Swiss Fintech Centi to Revolutionize African Remittances – Yellow Card and Swiss fintech Centi are reshaping African remittances with cheaper, more efficient cross-border payments. Source: Tawk Crypto.

Market Update

As of March 16, 2025:

Bitcoin (BTC): $84,225 (- 1.96%)
Ethereum (ETH): $1,932 (- 12.67
Top Gainers:
- BNB: $612 (+2.4%)
- TON: $3 (+12.8%)
Top Losers:
- PI: $1.46 (-10.7%)
- LINK: $14.05 (-9.2%)

The crypto market shows mild declines in Bitcoin and Ethereum, while BNB and TON lead the gainers, suggesting selective investor interest, whereas PI and LINK struggle with sharper losses.

Biggest Stories of the Week

PAPSS to Launch African Currency Marketplace in 2025
PAPSS, a pan-African payments provider, is piloting a currency market platform to enhance cross-border trade. Backed by 15 central banks and linked to 150 commercial banks, the platform is set to launch later this year.

Rwanda Invites Public Comments on Draft Law Regulating the Virtual Assets Business
Rwanda’s Capital Markets Authority (CMA) and the National Bank of Rwanda have invited public comments on a draft law regulating virtual assets, which places Virtual Asset Service Providers (VASPs) under CMA oversight and prohibits cryptocurrencies as legal tender. The proposed regulations ban crypto mining, ATMs, and mixing services while outlining guidelines for ICOs, tokenized assets, and stablecoins. Additionally, the law enforces the ‘travel rule’ for licensed VASPs and imposes heavy penalties, including fines and imprisonment, for operating without a license.

Binance Blocks Nigerian Users from Free Token Rewards and Airdrops Amidst Ongoing Regulatory Crackdown
Binance has restricted free token airdrops in Nigeria amid increasing regulatory pressure, frustrating users who relied on these rewards for passive income. This follows a broader crackdown, including the blocking of Binance’s website and the suspension of P2P trading, forcing Nigerians to seek alternatives like VPNs and OTC vendors. With Binance tightening policies, Nigerian crypto traders are exploring other platforms that offer fewer restrictions and continued earning opportunities.

Expert Take

Paul Harker, Global Head of Legal and Corporate Strategy at Luno on Bitcoin’s Onshore Status in South Africa:
.“What we are looking for is clarity from the National Treasury on when [and] under what conditions cryptocurrencies can be considered as an onshore asset.”

Startup Funding

Nigerian Stablecoin Startup IvoryPay Lands Hedera Investment After Handling $80M in Transactions Across 8K+ Merchants

Upcoming Events

Africa NFT Metaverse Conference 2025: March 27-29, 2025, in Nairobi, Kenya. Register Here

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