South Africa Gets its Very Own Bitcoin Incubator
The Cape Innovative and Technology Initiative (CiTi) has announced the launch of South Africa's very first Bitcoin incubator, the BitHub. The non-profit innovation group, known for its impeccable contribution in accelerating technology startups in South Africa, believed that it was time for inspiring innovators - coders, entrepreneurs, investors, etc. - to collaborate and build futuristic Bitcoin applications. According to Ian Merrington, the CEO of CiTi, they always wanted to create a private physical space - an incubator - to foster ideas that are particularly pitched to improve upon the....
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Switzerland’s State Secretariat for Economic Affairs (SECO) is reportedly helping Crypto Valley Venture Capital (CVVC), a blockchain business incubator, set up an office in South Africa. According to SECO, this move fits with Switzerland’s policy of supporting private firms that seek to help African blockchain start-ups. Funding for Successful Applicants According to a Swissinfo report, CVVC will fund the best blockchain start-ups “in South Africa, Nigeria, Kenya, Rwanda, Congo and other countries.” The report adds that the initial five successful applicants will....
The Cape Innovation and Technology Initiative (CiTi) has announced it will launch South Africa's first digital currency hub, BitHub. It will serve to be a center point for anyone currently involved in digital currency or interested in learning more. CiTi has already made a name itself in its nearly 20 years of serving the local South African community where it has been a pioneer of new technologies. The nonprofit organizes tech meetups and events, such as a recent virtual reality community gathering, provides resources to developers and runs an incubator for local tech startups."In South....
Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country.
Binance Ceases Some Services in South Africa
Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will....
Bitcoin ATMs (Automated Teller Machines) have been popping up all over the world. Hong Kong, Australia, Dubai, and America, among other places, have operating Bitcoin ATMs. These ATMs have only become widespread in the past few months and are a very new and incomplete technology. Now, they're coming to Africa. Coming to Africa. [dropcap size="small"]Bitcoin's first ATM in the vast continent of Africa is expected to be opened to the public in late May. The ATM will be owned by ZABitcoinATM. The first ATM will come to Johannesburg, South Africa. A second one, which will come a month after....
The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.” South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act [FAIS].” Comments on the draft declaration can be submitted until Jan. 28, 2021.....