|Africa||MTN launches Chenosis, a Pan-African API marketplace. Chenosis will give developers access to a broad range of API products and services from across the continent, ranging from e-health, fintech, telecommunications, e-commerce, identity and authentication, payments and collections, and more, from a single marketplace. Businesses and developers will also be able to publish their APIs so that other developers can discover and consume them. MTN Blog|
|Global||Visa to incorporate cryptocurrency into its payments network. Visa recently announced that it has been working with Coinbase and Fold to “provide a bridge between digital currencies and its existing global network of merchants.” As a result of this collaboration, more than 25 digital currency wallets across the globe have linked up with Visa to enable consumers to spend their digital currency using a Visa debit or prepaid card. Finovate|
|EDITOR'S NOTE||Mastercard has also been making moves in the cryptocurrency space by actively encouraging crypto exchanges and payment service providers to sign up to their Accelerate Crypto Card Partner Program. The program allows the partners to issue payment cards that can hold traditional currency and cryptocurrencies. Wirex is the first native cryptocurrency platform to be granted a Mastercard principal membership and this allows them to issue payment cards directly to consumers.|
|Russia||Putin signs Russia's Crypto Bill into law. Vladimir Putin, the President of Russia signed the bill that allows companies to issue securities on a blockchain once they register as an issuer with the Bank of Russia. A more detailed law regulating crypto-related businesses is expected to be passed later this year. CoinDesk|
|EDITOR'S NOTE||It is interesting to note that prior to this, lawmakers introduced a law that made it illegal to issue or trade crypto. If the proposed regulation was passed, experts speculated that the Russian economy would have lost an estimated $10 billion in taxes annually, which the crypto industry would otherwise be able to pay if it could operate legally. There was also some outcry from the crypto community and criticism from Russia's Ministry of Justice and Ministry of Economic Development. The pushback might have put some pressure on the government and we speculate that this resulted in the change.|
|Liberia||Lonestar Cell MTN launches international remittance in Liberia. MTN Liberia has launched a remittance service which allows their customers to receive money from their family and friends anywhere in the world directly to their MoMo accounts. IT News Africa|
Share a tip
Do you have an announcement, event, or job posting you'd like to share, or have you come across an interesting bit of African fintech news recently? Hit reply
and let me know! I might be able to include it in next week's newsletter.
Know someone who'd enjoy Decode Fintech?