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All the emerging market blockchain & crypto news you need in less than 5 minutes
In This Issue
•SANCTIONS: Iran uses crypto to circumnavigate US sanctions
•SALE: Huobi founder may sell $3B valued stake to Justin Sun or Sam Bankman-Fried
Latin America & The Caribbean
•EXPANSION: The Amazon of Latin America to offer crypto trading throughout LatAm
•USE CASE: Buenos Aires plans to launch Ethereum-based identity authentication solution
•FUNDING: Peter Thiel-backed DAO invests $20 million to boost Web3 in Africa
•TRADING: LocalCryptos trading volume in Africa increases 75% in July
•CBDC: Digital ruble may roll out in 2024
•NFTs: Ukrainian pianist creates NFT collection to raise funds for Ukrainian refugee children music education
Iran evaded US sanctions last week by making an official import order using cryptocurrency valued at USD $10mm. An official from Iran’s Ministry of Industry, Mining, and Trade said that “By the end of September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries.” Which cryptocurrency used has not been identified yet.
Leon Li, founder of crypto exchange Huobi, is reportedly in talks with investors to sell his 60% stake in the company. Li is seeking a valuation of between USD $2-$3 billion. Tron founder, Justin Sun, and FTX founder, Sam Bankman-Fried have already been in discussion with Li to acquire his shares and the sale may occur this month.
Want more Asia news?
•Binance sides with Indian regulators in WazirX fallout to cease support for off-chain transfers
•Why Singapore may be the ideal place to rebuild post-crypto winter
•PwC Middle East Launches a Facilitation Model to Regulate Cryptocurrency in the UAE
•Web3 helps Taiwan secure information against cyberattacks
•Uzbekistan blocks access to foreign crypto exchanges over unregistered trading
Latin America and The Caribbean
After a successful pilot in Brazil, the largest ecommerce company in Latin America, Mercado Libre, is planning to offer customers throughout Latin America the ability to trade crypto. Users will be able to buy and sell digital assets directly from the Mercado Pago wallet via the Paxos Blockchain. Leaning into crypto, Mercado Libre also announced that it has acquired USD $7.8 million of Bitcoin for its treasury.
USE CASE: Buenos Aires plans to launch Ethereum-based identity authentication solution (3 minute read, original article in Spanish)
The government of Buenos Aires presented a plan during ETH LatAm to implement an identify authentication solution based on Ethereum layer-2 technology called TangoID. The self-sovereign digital identity platform will eliminate the need for individuals to present documentation through a verifiable credential, be interoperable with other open permission-less blockchains, and private information will be stored on user devices off-chain. The solution is slated to launch in January 2023.
Want more Latin America & Caribbean News?
•Digital gold, but not Bitcoin: Deputy calls for all gold in Brazil to be registered on blockchain [Portuguese]
•The president of El Salvador affirms that the rebound in tourism in his country is due in large part to Bitcoin [Spanish]
•Mexico ranks as the ninth region with “the highest rate of possession” of cryptocurrencies [Spanish]
•Real digital enters study phase in September with BC evaluating releasing bank stablecoins and custody deposits [Portuguese]
•Brazilian Exchange BlueBenx suspends withdrawals on the grounds of having suffered a hacker attack, report customers [Portuguese]
BitDAO has voted unanimously to invest $20mm in AfricaDAO to accelerate Web3 growth and adoption on the continent. AfricaDAO has also secured $105mm in funding from several investors including Polygon and Synthetix. AfricaDAO’s proposal includes funding rounds for African companies, investing in African Web3 talent, and supporting Web3-based education.
African trading volume on peer-to-peer crypto marketplace, LocalCryptos, increased 75% in July. Kenyan traders drove most of the volume last month with over 1,200 trades and 27.4mm KES (USD $230K) changing hands. LocalCryptos also reported significant growth in South Africa, Nigeria, Morocco, and Ethiopia.
Want more Africa news?
•Celo Announces Web3 Fund Event in Lagos, Nigeria
•‘We are Positioning Zambia as a Destination with Progressive Regulatory Frameworks,’ Says CEO, BongoHive
•GoldFinch, a Leading DeFi Lending Protocol in Africa, Joins the Celo Alliance for Prosperity
•The Bank of Central African States Says it Will ‘Oversee the Crypto Project’ by Central African Republic (CAR)
•Egyptian VC, Openner, Launches MENA’s First Web3 Studio to Fastrack Markets Growth
Russia’s central bank is planning to connect all banks and credit institutions to its digital ruble by 2024 according to the latest Bank of Russia monetary policy update. Next year the Bank of Russia plans to begin beta testing smart contracts with its CBDC and by 2025 it expects to implement offline mode. The Bank of Russia will also work with other central banks to test cross border and foreign exchange transactions.
NFTS: Ukrainian pianist creates NFT collection to raise funds for Ukrainian refugee children music education (2 minute read, original article in Portuguese)
Internationally acclaimed Ukrainian pianist, Anna Fedorova, has partnered with Swiss-based Digital Content Marketplace to create a NFT collection to raise money to fund the music education for Ukrainian refugee children who’ve resettled in The Netherlands. Fedorova also founded The Davidsbündler Music Academy to cultivate Ukrainian refugee children musical talent. 100% of the proceeds will go to funding the children’s’ musical education at the academy as well as provide housing and living allowances.
Thanks for reading and have a great week ahead!
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