Monday Nov 20, 2023

GEO Report: Crypto Adoption in Sub-Saharan Africa

Our 2023 GEO Report revealed that across the Sub-Saharan African region, centralized exchanges are the most-used platform type, facilitating over half of all transaction volume and in this episode, Ian Andrews (CMO, Chainalysis) speaks to an expert on the ground, Marius Reitz (General Manager Africa, Luno), to understand what's driving this grass-root adoption. 

Marius shares his early journey into the crypto industry and discusses the challenges and opportunities in the African market. He highlights the importance of education and the need for regulatory clarity and collaboration between the crypto industry and regulators, in order for growth and stability in the market. 

He also identifies the rise of peer-to-peer trading, and the potential for real-world asset tokenization and how Luno’s products and services continue to evolve to meet the needs of its customers and expand its presence in the African market.

Minute-by-minute episode breakdown

  • (2:09) - Marius's chance encounter with cryptocurrency and decision to join Luno
  • (5:08) - The landscape of crypto in South Africa in 2016 and challenges in the industry 
  • (8:20) - The role of education in Luno's operations and challenge and focus on providing safe access to the unbanked sector
  • (12:45) - Crypto use cases in Africa: unmet needs and access to global markets
  • (16:50) - Crypto regulatory climate in South Africa and relationship with traditional banking industry
  • (19:35) - Ease of buying and selling crypto in and the peer-to-peer market in Africa
  • (29:08) - Regulatory landscape and its impact on the African crypto industry
  • (33:24) - Decentralized exchange landscape and the appetite for Real World Assets in Africa 
  • (37:45) - Regulation to drive exponential growth expected in the African crypto market

Related resources

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Speakers on today’s episode

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