A growing number of African banks are showing increasing interest in cryptocurrency, according to Chris Maurice, CEO of Yellow Card Financial, a pan-African digital assets exchange.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that Maurice observed a significant shift in the attitude of traditional financial institutions towards cryptocurrencies. “We’re having conversations with banks and other major financial institutions that a couple of months ago, they didn’t want to hear about crypto, they didn’t want to talk about it,” Maurice stated. “Now these guys are calling us, they’re interested. They want to understand how do they get into the space.”
According to Naija247news, this growing interest from banks reflects the increasing adoption of cryptocurrencies across the African continent. Young Africans and businesses have embraced cryptocurrencies for various reasons, including hedging against inflation and facilitating cross-border transactions.
Naija247news understands that while cryptocurrencies remain largely unregulated in many African countries, this emerging interest from banks could pave the way for greater integration of digital assets into the mainstream financial system.
Naija247news reports that Yellow Card, which operates in 20 African countries, has witnessed a surge in cryptocurrency trading volumes, exceeding $3 billion last year. This significant growth underscores the increasing demand for digital assets within the African market.
