Cryptocurrencies

Kenya passes bill to regulate cryptocurrency

Kenyan lawmakers have approved the Virtual Asset Service Providers Bill, establishing a formal regulatory framework for cryptocurrency and digital assets. The Central Bank of Kenya will licence digital assets, while the capital markets regulator oversees exchanges.

The bill now awaits President William Ruto’s signature to become law.

The country has experienced rapid cryptocurrency growth despite limited prior regulations. A 1.5% digital assets tax was introduced in 2023, and Kenya ranked fourth in Africa for crypto adoption in 2024, behind Nigeria, Ethiopia, and Morocco.

The IMF has urged Kenya to align crypto rules with global standards to reduce risks like money laundering and terrorism financing. Lawmakers appear to have heeded these warnings as the nation moves toward its first formal crypto legislation.

Kenya’s adoption reflects a broader trend across eastern Africa, where cryptocurrencies are increasingly used for cross-border remittances and international transactions.

Stablecoins represented roughly 43% of Sub-Saharan Africa’s crypto transactions in 2024, while South Africa saw its first publicly listed company adopt Bitcoin as a treasury asset earlier this year.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Digital assets set to double in portfolios

Investment institutions now allocate an average of 7% of their portfolios to digital assets, with projections indicating a rise to 16% within three years. Digital cash and tokenised equities or fixed income dominate, each comprising about 1% of portfolios.

Asset managers show greater exposure than asset owners, particularly in Bitcoin and Ethereum, with some even investing in smaller cryptocurrencies and NFTs.

Asset managers lead in adopting tokenised assets, holding 6% in public asset tokenisation and 5% in private assets, compared to just 1% and 2% for asset owners. Digital cash also sees higher adoption among managers at 7% versus 2% for owners.

Despite this, cryptocurrencies like Bitcoin and Ethereum drive the majority of returns, with 27% and 21% of respondents citing them as top performers, respectively.

Looking ahead, private assets are expected to lead the tokenisation trend, with most institutions anticipating digital assets will become mainstream within a decade. By 2030, over half of respondents expect 10-24% of investments in digital assets or tokenised instruments, showing cautious optimism.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

PayPay and Binance Japan unite to advance digital finance

PayPay, Japan’s top cashless payment firm and a SoftBank company, has acquired 40% of Binance Japan to unite traditional finance with blockchain innovation. The partnership merges PayPay’s 70 million users and trusted network with Binance’s digital asset expertise and global Web3 leadership.

Under the new alliance, Binance Japan users will soon be able to purchase cryptocurrencies using PayPay Money and withdraw funds directly into their PayPay wallets. The integration seeks to simplify digital trading and connect cashless payments with decentralised finance.

Executives from both companies highlighted the significance of this collaboration. PayPay’s Masayoshi Yanase said the deal supports Japan’s financial growth, while Takeshi Chino called it a milestone for everyday Web3 adoption.

The alliance is expected to accelerate Japan’s digital finance landscape, strengthening its role as one of the world’s most advanced economies in financial technology. By combining secure payments with blockchain innovation, PayPay and Binance Japan aim to build a seamless digital economy.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Gemini expands its footprint in Australia

Gemini has announced a significant expansion in Australia, reinforcing its long-term growth strategy across Asia. The move includes appointing James Logan, gaining AUSTRAC registration, and launching new AUD banking rails for faster deposits and trading.

Australians can now deposit funds instantly through Osko and the New Payments Platform (NPP), avoiding international transfer delays and fees. Users can seamlessly buy, sell, and trade cryptocurrencies using AUD on the Gemini app and the Gemini ActiveTrader platform.

According to Gemini’s Global State of Crypto Report 2025, 22% of Australians already hold digital assets- a rate matching that of the United States.

James Logan will lead Gemini’s Australian operations, overseeing strategy, partnerships, and customer growth. With a background in financial services and senior roles at exchanges like Luno and Bitget, Logan brings deep expertise in digital asset adoption and trust building.

He described Gemini’s expansion as ‘an exciting milestone strengthening Australia’s access to secure and transparent crypto trading.’

Gemini’s mission to bridge traditional finance and the future of money underpins its commitment to trust, transparency, and innovation. The company views its expansion as the start of a long-term effort to empower Australians with secure tools to participate in the next generation of digital finance.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Africa launches world’s largest tokenised economy with $5.5 billion

Global Settlement Network (GSN) and Diacente Group have partnered to establish Africa’s most advanced tokenised economy, valued at $5.5 billion in real-world infrastructure. The collaboration digitises assets across food production, minerals, renewable energy, and trade.

The initiative aims to create an inclusive, efficient economic system, leveraging blockchain to enhance emerging markets’ global participation.

Uganda leads with its first Central Bank Digital Currency (CBDC) pilot, deployed on GSN’s permissioned blockchain and backed by treasury bonds. Agro-processing hubs, mining operations, and solar plants underpin the tokenisation effort.

Fully compliant with KYC and AML regulations, the digital shilling enables over 40 million users to transact securely via smartphones and USSD, fostering financial inclusion across East Africa.

The project supports Uganda’s Vision 2040 and the African Union’s Agenda 2063, aligning with the goals of the African Continental Free Trade Area. Leaders project one million jobs and $10 billion in annual exports.

Ryan Kirkley, GSN co-founder, calls it a ‘programmable economy grounded in real assets,’ while Diacente’s Edgar Agaba emphasises attracting investment and empowering local industries through transparent, tech-driven systems.

The partnership sets a precedent for emerging markets, reducing reliance on intermediaries and unlocking global capital. Tokenisation integrated with national development drives sustainable growth, offering a scalable model for digital economies based on real infrastructure and regulatory collaboration.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Galaxy launches GalaxyOne wealth platform for investors

Galaxy has launched GalaxyOne, a unified wealth management platform designed to help individuals grow and manage their investments seamlessly. The platform unites high-yield cash accounts, crypto, and equities, giving users greater control and convenience.

GalaxyOne offers FDIC-insured cash deposits with a 4.00% Annual Percentage Yield (APY) and Galaxy Premium Yield accounts offering 8.00% APY for accredited investors. These rates are supported by Galaxy’s $1.1 billion institutional lending business, ensuring transparency and financial strength.

Users can reinvest earnings into Bitcoin or other cryptos, linking traditional finance with digital assets. The platform allows trading of US-listed equities, ETFs, and leading crypto assets like Bitcoin, Ethereum, and Solana- all within a single, precision-built interface.

Built on the foundation of Fierce, the mobile platform Galaxy acquired in 2024, GalaxyOne now expands to Android and web users. Galaxy plans to add business accounts, crypto staking, and new brokerage and lending products, expanding investment options.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Galaxy users get Coinbase One perks via Samsung Wallet

Samsung Electronics has expanded its partnership with Coinbase to integrate cryptocurrency trading directly into Samsung Wallet for US Galaxy users. The update allows users to buy crypto within the app using Samsung Pay, further merging digital payments with investment management.

The collaboration also introduces a complimentary three-month Coinbase One subscription for Samsung Wallet users. The premium tier removes trading fees on select assets, increases staking rewards, and provides exclusive partner deals.

Samsung executives said the goal is to make everyday financial tools more seamless for millions of Galaxy users. The Wallet already stores IDs, memberships, and car keys, and now supports peer-to-peer transfers and instalment payments through partnered financial institutions.

Coinbase said the initiative leverages its trusted trading infrastructure and Samsung’s global reach to make crypto access more convenient. More than 75 million US Galaxy users are expected to benefit, with expansion to other markets planned in the near future.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Bitcoin pauses after reaching new all-time high

Bitcoin’s rally has slowed after reaching an intraday high of $125,725, signalling a possible short-term cooling phase following its record-breaking climb. Despite the pause, indicators show the bullish trend remains intact, with higher highs and strong momentum across key timeframes.

Analysts note that Bitcoin’s price may consolidate near the $120,000–$121,000 support zone before resuming its upward trajectory. The relative strength index (RSI) at 71 and stochastic reading of 89 suggest overbought conditions, increasing the likelihood of a brief retracement.

Resistance remains firm around $125,000–$126,000, while traders watch for renewed volume and upward confirmation.

Short-term charts reveal mixed signals. A local double top around $125,725 and falling volume indicate profit-taking, yet moving averages across all key periods continue to flash bullish signals.

If Bitcoin holds above $121,000, analysts expect the pullback to stabilise as part of a healthy consolidation phase, potentially paving the way for another breakout above $126,000.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

ECB names firms for digital euro components

The European Central Bank (ECB) has named the providers selected to deliver core components for the digital € project. The announcement follows a call for applications launched in January 2024, with results published on 2 October 2025.

Technology and payment companies chosen include Sapient GmbH, Tremend Software Consulting, equensWorldline, Feedzai, Capgemini, Almaviva, Fabrick, Giesecke+Devrient, and Senacor FCS.

Their roles cover services such as risk and fraud management, app development, offline solutions, and secure exchange of payment information. Second-ranked firms will only be engaged if required.

The ECB underlined that a decision on whether to issue the digital € has not been taken. Progress depends on the Digital Euro Regulation and approval by the ECB Governing Council, with development moving forward only once both are secured.

Framework agreements signed with the chosen providers involve no payments at this stage. They also include safeguards to allow adjustments, ensuring alignment with any future changes in European legislation.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Cryptocurrency mining banned on Abu Dhabi farms

Abu Dhabi’s Agriculture and Food Safety Authority (ADAFSA) reaffirms ban on crypto mining on farms to promote sustainable land use. Such activities fall outside the permitted economic uses, which are strictly limited to agriculture and livestock production.

The authority aims to protect the emirate’s agricultural sustainability and biosecurity.

Inspections revealed multiple farms misusing agricultural land for cryptocurrency mining, violating regulations designed to preserve farmland for its intended purpose. ADAFSA considers these activities detrimental to the core objectives of farming.

Consequently, the authority has vowed to take decisive action against non-compliant farms to uphold its policies. Violators face severe penalties, including a AED100,000 fine, doubled for repeat offences, alongside suspension of all farm support services.

Additional measures include electricity disconnection and confiscation of mining equipment, which is then referred to relevant authorities for further legal action. These steps ensure compliance with agricultural regulations.

ADAFSA calls on farm owners and workers to adhere to approved agricultural practices to maintain access to support programmes. They enforces measures to protect Abu Dhabi’s agricultural sustainability and prevent practices that harm its environmental and economic goals.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!