Good morning! We’re a day late, but there are very good reasons for this. For starters, we are delivering this newsletter in a fresh new way since WordPress launched newsletters this week. We hope you like this simpler format.
Secondly, we wrote a long piece about the state of crypto in Kenya. In recent years, Kenya has emerged as a dynamic player in the world of cryptocurrencies. This article aims to shed light on the current state of crypto in Kenya, focusing on the practical implications and opportunities it presents for individuals and businesses. Without exaggeration, we explore the journey we have come, where we are and where we are going.
In case you missed it, which you probably did since this newsletter feature was not working very well when we posted, here it is: The Realities of Crypto and Web3 in Kenya.
Have you heard of Machankura? To a Kenyan, I am sure it reminds you of mashakura. LOL. This is far from it. Machankura is a service that enables you to interact with Bitcoin via USSD. Yes, that’s right. No internet, just a basic phone. Founded by South African Kgothatso Ngako, Machankura’s goal is to spread Bitcoin adoption across Africa. Pretty cool way to do it, if you ask me. FYI, machankura is slang for money in South Africa.
Machankura officially launched in Kenya last week. Dial 483*8333# to check it out.
By now you know that the Kenyan government suspended Worldcoin operations last week after the unforeseen uptake in Nairobi. I have talked about the context around this at length in the article above.
Paypal launched a dollar-backed stablecoin (PYUSD) yesterday. Big news. Why? Paypal is an OG in the fintech industry. A move towards cryptocurrency is a big nod to the web3 industry.