Crypto Exchange FTX Announces Partnership with AZA Finance to Expand Web3 in Africa & More

Cryptocurrency Exchange FTX and AZA Finance Form Partnership to Expand Crypto and Web3 in Africa

FTX, a global digital currency exchange, has established a cooperation with AZA Finance, a Kenyan fintech firm, to increase crypto acceptance and Web3 development in Africa.

The two organizations will collaborate to link diverse African markets to the Web3 sector by offering in-depth expertise to African users as well as developing the necessary infrastructure. Both businesses intend to launch trading pairs for African and digital currencies. FTX and AZA Finance will also work together to make it easier for African users to deposit and withdraw money in African currencies on FTX.com.

“We are thrilled to be working with FTX and to help them grow across the African continent,” Elizabeth Rossiello, CEO and Founder of AZA Finance, said of the partnership. Sam’s leadership and devotion to Web3’s ethical expansion are outstanding. One thing became evident as we established Africa’s largest platform for trading African currencies: this continent is the future of global, digital economies. After years of supporting these thriving businesses, we’ve learned that the next generation of Web3 economy consumers, producers, and builders is unquestionably African.”

The two firms will also collaborate to bring African NFTs and artists to the FTX NFT marketplace.

Luno Announces the Launch of its Early-Stage Investment Arm, Luno Expeditions

LunoLuno, a cryptocurrency company, has announced the launch of Luno Expeditions, a global, early-stage investment arm that will support crypto/Web3 and fintech founders on their journey to building the next generation of financial services.

Having been in the market for the last seven years as a subsidiary of Digital Currency Gorup (DCG), Luno Expeditions is expected to spearhead all of DCG’s seed and pre-seed investing. The investment firm is expected to scale up investments globally as well as expand the focus beyond crypto into the bigger fintech space. Luno’s new investment arm will be led by Jocelyn Cheng, who is taking the role of Chief Executive Officer.

Speaking about her new role and the launch of the new arm, Cheng, said, “I am thrilled to join Luno Expeditions as Chief Executive. These are incredibly exciting times in cryptocurrency and the broader fintech ecosystem. We’ve got ambitious plans to build a leading fund designed around the needs of early stage founders. It will be a privilege to work with ambitious entrepreneurs from all over the world, all intent on solving problems and building the next generation of financial service companies.”

So far, while in stealth mode, Luno Expeditions has over the past couple of months been able to invest in more than 20 leading crypto and fintech companies globally, including a ground-breaking remittance in Tanzania, a crypto compliance solution in Israel, women dedicated bank in Pakistan, and an NFT marketplace in the United States.

South Africa’s Yoco Acquires Nona Digital

Yoco, an African payments and software company, has acquired Nona Digital, a leading fintech and web3 software development agency.

The news comes barely a year after Yoco raised $83 million in its Series C funding. The acquisition of Nona Digital will notably boost Yoco’s roadmap by adding a team of highly specialised fintech product and technology professionals to join its team.

Speaking on the acquisition, Mike Scott, CEO at Nona said, “We have spent the last 10 years building an exceptional team and capability in the Fintech and Web3 space. This acquisition allows us to direct everything that we have built towards a vision and mission that we believe in, and that matters. It is a natural evolution for a strong services business to move into product and we are very excited to now be part of the Yoco story.”

The acquisition will help Yoco continue to expand its footprint across Africa, Europe, and the Middle East as well as bring experienced and entrepreneurial talent from across the globe.