Crypto Users in Africa 🌍 Surged More Than 2,500% ⬆️ in 2021, Says Report

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Crypto Users in Africa 🌍  Surged More Than 2,500% ⬆️ in 2021, Says Report

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The adoption of cryptocurrencies in Africa has seen a tremendous increase in the region, with several reports showing uptrends in the adoption rate.

One such report has been published by cryptocurrency exchange platform Kucoin, which says that the number of crypto transactions has increased by 2,670% in some African countries.

The sharp influx in the growth relates to the low values that have been observed during previous periods. However, the number of crypto transactions in Africa represents only 2.8% of the global volumes.

The report says that both public and private entities are increasing their investments in research and development for creating conditions responsible for increasing the adoption of the asset class.

KuCoin attributes the astonishing growth in the adoption of cryptocurrencies to the high level of inflation seen in African countries.

The report states, “the adoption of crypto technologies in Africa were preceded by the availability of the technology and the presence of several motivating factors. These include the desire of the population to react quickly to any changes in the exchange rate of national currencies in countries with high rates of inflation and devaluation.”

Sony Entertainment Buys 🛒 Jade Raymond’s Haven Studios

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Sony Entertainment is buying Canada-based video game development studio Haven Entertainment Studios for an undisclosed amount.

The two companies had originally announced a partnership just over a year ago for creating a new IP for PlayStation 5. But now, Sony is getting Haven Studios into the fold as one of its first-party PlayStation studios.

“Joining PlayStation Studios provides Haven with the creative freedom and unparalleled support to focus on building the highest quality games,” said Jade Raymond, founder of Haven Studio.

“We intend to fully embrace the incredible capabilities of the PS5 to create new worlds that inspire players and allow them to connect in new ways,” added the industry veteran.

The acquisition of Haven Studios follows Sony’s major announcement that it plans to acquire Destiny creator Bungie, indicating Sony’s intent to get into the live service gaming market in a big way.

Investing in live service games “allows us to build larger worlds, it allows us to create really meaningful social connections between players,” said PlayStation Studios head Hermen Hulst in a statement.

Apple Services Are Back Online 🟢 After Outage Hits Several Services

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More than a dozen of Apple’s online services were back online after suffering a widespread outage.

Several services of Apple, including Apple App Store, Apple Music, Apple Arcade, iMessage, Maps, among others, were down on March 21 in some parts of the world.

The outage reportedly impacted several people along with Apple’s internal services for corporate and retail employees.

The outage issues were uncommon, as in some cases, users were able to open the App Store but were not able to download an app. In other cases, the app did not load altogether.

Thousands of users took to social media and outage tracker site Downdetector to report the outage.

Apple eventually confirmed the outage; however, the company did not offer any explanation or reasons behind the problem.

Apple’s online services were back after nearly hours of downtime by about 3:45 p.m. ET.

Several users reported being able to access the Apple App Store and other online services after the systems started returning to normal.

Corporate Management Startup Ramp Raises $750 Million 💰

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Ramp, a corporate credit card and spending management software firm, has raised $750 million at a valuation of $8.1 billion. The funding round includes $550 million in debt and $200 million in equity.

The equity round was led by Founders Fund and was joined by existing investors Stripe, Thrive Capital, Iconiq Capital, D1 Capital Partners, Redpoint Ventures, Coatue Management, Altimeter, Lux Capital, Vista Public Strategies, Spark Capital, and Definition Capital. New investors General Catalyst, Avenir Growth Capital, 137 Ventures, and Declaration Partners also joined the round.

Founded in 2019, Ramp is a U.S.-based corporate credit card and spending management startup that builds finance automation platforms designed to save businesses time and money.

The startup offers 5-in-1 software that consolidates corporate cards, accounting, expense management, bill payments, and reporting into one simple and free solution. Currently, the company’s software is used by over 5,000 businesses worldwide.

Ramp plans to use the fresh funds to scope out more M&A opportunities. Additionally, the company plans to continue to boost its workforce to support new initiatives both in investing in its software and going into new verticals.

Around the Web 🌐

Gemini Gets Electronic Money License in Ireland: Cryptocurrency exchange platform Gemini has received an electronic money license from the Central Bank of Ireland. The license will allow Gemini to issue electronic money, provide electronic payment services, handle electronic payments for third parties, among other services in Ireland.


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