Discovery Bank Becomes First Major South African Bank to Offer Crypto Trading

South Africa's central bank has identified cryptocurrencies and stablecoins as significant financial risks, citing a surge in trading volume and user numbers on major exchanges, alongside regulatory gaps in the country's framework. This announcement reflects growing concerns about the stability of the financial system in light of increasing crypto activity.

VALR, a prominent digital asset exchange in Africa, has partnered with Mukuru to establish stablecoin payment infrastructure in South Africa, enhancing the accessibility of digital transactions. Additionally, Bitcoin ATMs have been launched in various malls across Nairobi, marking a significant step in Kenya's evolving cryptocurrency landscape following recent regulatory changes.