Kenya wants to expand the introduction of cryptocurrencies in 2022 - emerging countries
Kenya wants to expand the introduction of cryptocurrencies in 2022 - emerging countries
In his Africa cryptoma forecasts for 2022, Marius Reitz, General Manager of Luno in Africa, predicted that Kenya will expand the introduction of cryptocurrencies. In order to support this claim, Reitz refers to Kenya's position as the market leader at the Peer-to-Peer (P2P) trade volume of the world in the second year in a row.
Kenya boomen cryptoma market
Kenya is expected to list the worldwide peer-to-peer cryptocurrency market for the second year in a row, Marius Reitz, General Manager (GM) of the Luno cryptocurrency exchange in Africa, has reported.
To justify his selection of Kenya in front of the usual heavyweights, the GM in a. cited test report This points Kenyans with digital payment solutions.
"The country's crypto industry is booming with a rapidly emerging group of companies that develop blockchain-based solutions, and in view of its young population, the high heels of mobile connectivity and familiarity with digital payment solutions such as mobile money, it is firmly positioned to act as a leading cryptocurrency in East Africa in 2022", Reitz will be in the explanatory Report quoted.
bitcoin.com News previously reported via the climb Peer-to-peer cryptocurrency volumes in Kenya, through which South Africa became the country with the second highest P2P volume in Africa.
cryptos as an alternative currency
Reitz not only predicts Kenya's continued dominance on the P2P cryptocurrency market, but is also quoted in the report in which he explains the continuing difficulties that are confronted with African companies that want to access foreign currencies via formal markets. He predicts that such companies based in Africa will be forced to "consider cryptocurrencies as an alternative means of processing cross -border transactions".
However,Reitz is quoted in the same report, which warns that real progress in this area also depends on the progress on the regulatory front. He said:
Similar to most aspects of the crypto industry, progress in this area will strongly depend on a cheap regulatory climate, and if this is achieved, cryptocurrencies could become an important asset for companies with extensive activities throughout Africa.
Despite these and other potential hurdles, Reitz still confirmed his conviction that Africa is better able to introduce cryptocurrencies than other continents.
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