High Africa crypto information options Onafriq adopting USDC as Nigeria hunts CBEX scammers. In Ethiopia, Phoenix Group is increasing its Bitcoin mining operations.
The final week of April introduced a number of notable crypto tales from Africa. African cost service supplier Onafriq is leveraging USDC to boost cross-border settlements. In the meantime, Nigeria is pursuing eight people, together with 4 Kenyans, over the CBEX collapse. In Ethiopia, UAE-based Phoenix Group has allotted further assets to its Bitcoin mining operations.
Let’s discover these headlines from the continent this week:
Africa Crypto Information: Onafriq Companions with Circle for Continental Funds
South Africa-based cost infrastructure supplier Onafriq is partnering with USDC issuer Circle to streamline cross-border funds throughout Africa. Its community spans 40 international locations, connecting thousands and thousands of customers who’re, in flip, empowered to take part in a number of the hottest presales in 2025.
This partnership introduces cross-border settlements in USDC, a stablecoin that mixes the effectivity of a digital worldwide cost system with the soundness of the world’s de facto reserve foreign money.
African international locations usually face fragmented cost methods and currencies, resulting in bureaucratic worldwide settlements.
This blockchain-based answer gives establishments and people a quicker and less expensive possibility. Stablecoins are a cornerstone of contemporary crypto buying and selling, mixing the comfort of digital currencies with the relative stability of nationwide currencies.
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Nigeria Crypto Information: Nigeria Targets Eight People Over CBEX Collapse
The latest collapse of the African crypto alternate CBEX continues to make headlines as investigations deepen.
The Financial and Monetary Crimes Fee of Nigeria has launched a manhunt for eight suspects, 4 Nigerians and 4 Kenyans, believed to be behind the alternate’s failure.
CBEX seems to have been a fraudulent operation, with its extravagant guarantees far exceeding normal monetary market returns.
Scams and fraudulent platforms stay a giant problem within the crypto area. Crypto fans, particularly those that maintain a number of the finest cryptos to purchase, should confirm their platforms and keep cautious of gives that appear too good to be true.
Ethiopia Crypto Information: Phoenix Group Expands Bitcoin Mining Funding
UAE-based mining firm Phoenix Group has added 50 MW to its Bitcoin mining operations in Ethiopia, rising its complete energy allocation to 130 MW. This growth solidifies its place as a number one worldwide Bitcoin miner.
New Milestone Achieved!Phoenix Group provides 52MW of Bitcoin mining capability in Ethiopia, bringing the nation’s complete to 132MW and our world capability to 500+ MW throughout 5 international locations.Powered 90% by clear hydropower, enabling scalable and sustainable mining.
تم تحقيق إنجاز جديد!… pic.twitter.com/RE7Ss6K9rf
— Phoenix Group (@phoenixgroupuae) April 29, 2025
The considerable hydroelectric energy in Ethiopia permits Phoenix Group to entry inexpensive, environmentally sustainable power. Notably, the corporate goals to rank among the many high ten world crypto-mining corporations, and this funding underscores its dedication to that aim. With extra miners, the Bitcoin hash charge is at close to all-time highs.
(Supply)
Bitcoin mining in African international locations like Ethiopia and Zambia, which provide ample renewable power, presents a viable alternative. These elements allow massive miners to discover rising markets and create mutually useful investments throughout the continent.
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Africa Crypto Information: Onafriq Adopts USDC As Nigeria Manhunts CBEX Scammers
Onafriq, an infrastructure supplier in South Africa, is partnering with Cicle to spice up USDC adoption.
Nigeria is after eight suspects, together with 4 Kenyans, after the collapse of CBEX
Phoenix Group is including 50MW as they double down on Bitcoin mining
The submit Africa Crypto Week in Overview: Onafriq Faucets USDC, Nigeria After 8 Suspects Following CBEX Collapse, Phoenix Group Expands Bitcoin Mining Operations In Ethiopia appeared first on 99Bitcoins.
