Africa Crypto Week in Review: DePIN Summit Comes to Kenya, South Africa Tops in Merchant Crypto Payments, Nigeria Enacts New Securities Law

Africa crypto news: Kenya crypto news was dominated by the DePIN Summit in July, as South Africa crypto news shows that the country leads merchant payments. In Nigeria, will this new crypto law spark growth?

Unsurprisingly, South Africa is the most sophisticated crypto market on the continent, primarily due to its merchant crypto payment prowess. Meanwhile, Kenya will host the next edition of the DePIN Network annual crypto event. On the western side of the continent, Nigeria has finally enacted a legal framework that accommodates crypto as part of its securities framework.

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Let us explore these stories in some detail:

Kenya Crypto News: DePIN Event Set For Mombasa and Zanzibar

Global crypto organization Decentralized Physical Infrastructure Networks (DePIN) has announced that it will hold its annual Africa event in Mombasa, Kenya. The event focuses on decentralized infrastructure, blockchain solutions, and sustainability.

DePIN will hold its event from July 2 to 5, with the first day in Mombasa, Kenya, followed by the island of Zanzibar, off the coast of Tanzania. The summit intends to gather industry leaders, innovators, and policymakers to transform blockchain development on the continent. In turn, this could help funnel capital to some of the best cryptos to buy in 2025.

Organizations such as EV3, Share, and Threefold are crucial in organizing the summit. The event will feature several notable speakers from these organizations and beyond, all of whom will contribute to its overall success.

South Africa Crypto News: Leader In Merchant Crypto Adoption

South Africa is one of the top crypto markets in the world.

A survey confirmed that it is the top-ranked African market for merchant crypto payments. This metric is vital because it shows the relative maturity of the South African market, with many institutional-level players adopting crypto as a payment system.

notes from APEX, Cape Town

– incredible market for *local* stablecoin & payment focused teams

– bcoz similar to India the region has capital controls and lack of regulatory clarity (for now)

– early & talented solana community in the region (eco project employees,… pic.twitter.com/sZp0nE7a5a

— Aditya Shetty (@AdityaShetts) March 30, 2025

The country has about 584 merchant locations accepting crypto payments, placing it head and shoulders above any other market on the continent. Notably, South Africa ranks sixth globally, trailing only the USA, Brazil, Czech Republic, El Salvador, and Italy.

Countries like Kenya and Nigeria largely rely on peer-to-peer crypto usage, and its citizens actively participate in some of the hottest presales. However, South Africa shows a decent level of integration between crypto and the business sector.

If crypto is to truly challenge fiat and replace it as a medium of exchange, such widespread merchant acceptance is necessary for growth.

Nigeria Crypto News: New Securities Law–What You Should Know

In the past week, Nigerian President Bola Tinubu signed the Investment and Securities Act, which recognizes virtual assets and investment contracts as securities in the country. This development helps ease some of the uncertainty surrounding crypto in Nigeria after a tumultuous year of crackdowns.

This legislation is remarkable for a country whose central bank directed financial institutions in 2021 to stop facilitating crypto transactions. Nigeria also hit the headlines this year with the arrest of a Binance executive as part of a crackdown on the exchange, which ultimately caused Binance to exit this market temporarily.

The law seeks to create a more certain environment for investors while enhancing transparency and compliance with global standards for issuers. Crypto stakeholders are watching the development cautiously, hoping this could finally be a turning point for the country’s crypto industry, which has had a love-hate relationship with the Nigerian government.

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