South Africa Tax Compliance, Circle CV VC

This week, in Africa crypto news, Circle, the issuer of USDC, is backing a fund and has seeded $20M to accelerate the growth of blockchain startups on the continent. Circle is a big player in crypto and a public company. CIRCL stock has been under increasing pressure as the stablecoin scene heats up.

(Source: CIRCL, TradingView)

Meanwhile, in South Africa, the government is adopting new laws to enable smooth crypto taxation. The government seeks to comply with CARF standards, touching on international crypto tax disclosure. South Africa is crypto-receptive and has been warming up to crypto with supportive regulations that foster growth.

In Nigeria, Fintech and crypto startup Kredete has raised $22M to boost its international expansion drive. With crypto finding adoption in Africa, this raise will go a long way in improving financial inclusion, allowing even more users to invest in some of the best meme coin ICOs.

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Let’s look at these stories making continental headlines this week:

Africa Crypto News: Circle Backs A $20M Blockchain Fund To Support Startups

Circle, the issuer of the second-largest USD tracking stablecoin, USDC, is backing a $20M blockchain fund, CV VC, to boost the digital asset space in Africa.

Based in the Cayman Islands, CV VC will target early-stage blockchain startups that facilitate payments and data infrastructure in the region. 

Thrilled to announce that @circle_ventures has backed our CV VC African Blockchain Fund to support Web3 innovation across Africa 🌍

As stablecoins and Web3 technology continue to flourish across Africa, we remain committed to supporting pioneering founders driving change. We… pic.twitter.com/lxJ29gy8H7

— Brenton Naicker (@Naicker_94) September 17, 2025

Circle recognizes that there is a market for stablecoin-powered utility in the growing digital asset space on the continent.

Gillian Darko, Vice President of Strategy at Yellow Card, said 2025 will be the year of stablecoins.

Since it is about “solving real-world problems,” using stablecoins will help address currency volatility while offering more USD to businesses.

There is cause for such sentiment. Digital current settlements continue to expand on the continent, with stablecoins being a trade pair in millions of transactions.

Investing in payments and fintech startups ensures that stablecoin usage will continue to be high, ultimately benefiting USDC. 

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South Africa Crypto News:  Government Seeks To Comply with International Tax Laws

The South African government has released draft regulations to comply with the OECD’s Crypto-Asset Reporting Framework (CARF).

These regulations will be released under the country’s existing Tax Administration Act of 2011 and will strengthen alignment with global tax and reporting standards. 

The OECD Framework, passed in 2022, aimed to address the risks crypto usage poses to international tax compliance. With this move, South Africa seeks to maintain good standing with global regulators and institutions.

These regulations are a step towards achieving compliance. 

Crypto stakeholders will be invited to review and comment on the rules once they are made public.

Once a final draft is enacted, it gains the force of law in the country.

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Nigeria Crypto News: Kredete Raises $22M For Expansion

Nigerian crypto and fintech startup Kredete has raised $22M to boost expansion efforts. The platform announced the results of a Series A funding drive led by AfricInvest with support from Partech and Polymorphic Capital. 

Kredete launched in 2023 to optimize remittances by Africans in the diaspora. Millions of Africans, especially Nigerians, working abroad periodically send money home. As crypto gains traction, some are used to new tokens listing on Binance and other top exchanges.

Thrilled to announce our $22M Series A raise at @kredete

As Chief Product Officer, I’ve had the privilege of building products that make it easier for Africans everywhere to send money, build credit, pay securely, and unlock opportunities across borders.

This milestone isn’t… pic.twitter.com/SqrzOUwEel

— Ebuka Arinze (@EbukaArinze_) September 15, 2025

The startup sought to optimize this market and even introduced credit scores for users to access other financial services. The platform has also introduced a stablecoin-backed debit card, usable in 40 countries on the continent. 

The latest haul brings Kredete’s total raised amount to over $24M. The platform has shown remarkable growth in its two years of operations. It will now look to Europe, the UK, and Canada for further growth.

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