🟠 Circle backs CV VC’s $20M African Blockchain Fund

Plus: 🌍 USDC-issuer Circle backs CV VC’s $20M African Blockchain Fund 🇳🇬 Experts call Nigeria’s crypto tax regime “progressive”
Funding — coverage and analysis.

Plus: 🌍 USDC-issuer Circle backs CV VC’s $20M African Blockchain Fund 🇳🇬 Experts call Nigeria’s crypto tax regime “progressive”

Circle joins the Swiss-based venture capital firm to invest in early-stage African blockchain companies over a period of ten years from 2022.

Plus: 🌍 Coinbase-backed Onboard 3.0 attracts 10k users two months after launch; 🇳🇬 Kredete raises $22 million to fuel expansion efforts

The firm wants to launch a host of new products and expand into new markets.

The company announced that the new capital will be used to accelerate HoneyCoin’s scaling plans, expand its product suite, hire senior talent and strengthen compliance and licensing capabilities.

The capital injection is to help Cr3dentials raise revenue and solidify its upcoming pilot programs.

Nigeria saw the most deals done, but Seychelles maintained top spot in terms of deal value.

Plus: 🇰🇪 31% of Kenyan banks are warming up to crypto — CBK

The cohort marks Africa’s strongest showing yet — and comes as ecosystem grants increasingly serve as early-stage capital for blockchain startups navigating a tougher post-FTX funding climate.