Kenya could become Africa's leading crypto hub in 2022

“The country's crypto industry is booming with a rapidly emerging crop of companies building blockchain-based solutions and considering its young population, the high heels of mobile connectivity and familiarity with digital payment solutions such as mobile money. , is firmly positioned to emerge as East Africa's leading crypto hub in 2022, ”said Marius Reitz, general manager of the Luno cryptocurrency exchange in Africa.

With the continuing difficulties faced by African companies to access cross-border payments, such companies will be forced to look to cryptocurrencies as an alternative means of handling cross-border transactions, according to Reitz. "With the severe lack of foreign exchange reserves across Africa preventing companies from receiving cross-border payments and putting their profits back, many companies may be looking to cryptocurrencies as an alternative means of handling cross-border transactions," he added.



if (jQuery ("# ​​crm_srl-th_altra_d_mh2_1"). is (": visible")) {console.log ("Edinet ADV adding zone: tag crm_srl-th_altra_d_mh2_1 slot id: th_altra_d_mh2" ); } The boom in Kenya's crypto market and the emergence of local companies building blockchain-based solutions along with high levels of mobile connectivity and familiarity with digital payment solutions, the country can certainly lead the way as the main crypto hub of the Africa this year.

However, this would hinge overall on advances in the favorable regulatory environment: “Similar to most aspects of the crypto industry, progress in this area will depend heavily on a favorable regulatory climate and if that were to materialize, cryptocurrencies they could emerge as an important resource for companies with operations spread across Africa ”. Despite the potential obstacles, Reitz reiterated his position that Africa remains the most promising region for the adoption of cryptocurrencies.