BitKE

LocalCryptos, a P2P crypto trading platform, is winding down operations after five years, acknowledging challenges such as personal health, market conditions, and regulatory issues. It will phase out services gradually, ceasing account creation by November 4, 2022.

Visa has selected 23 African startups for its inaugural Africa Fintech Accelerator, predominantly from Nigeria, to enhance digital transformation. The program offers mentorship, training, and funding opportunities to support business growth.

The Competition Authority of Kenya approved Moniepoint Inc.'s acquisition of a 78% stake in Sumac Microfinance Bank, facilitating its entry into Kenya's financial services. This move aligns with trends of fintechs acquiring regulated firms to accelerate growth in the competitive mobile payments market.

MNT-Halan, an Egyptian fintech, raised $157.4 million in funding, led by the IFC, to support its expansion. Founded in 2018, it has grown significantly, serving over seven million users and disbursing $4.4 billion in loans, aiming to revolutionize financial services beyond Egypt.

The CFTC issued a 'no-action' letter to Phantom, allowing it to connect users to regulated derivatives markets without broker registration. This decision offers clarity for non-custodial wallets and could set a precedent for future regulations in the crypto space.

AEON's partnership with Folks Finance enhances the $FOLKS token's utility, enabling real-world transactions via AEON Pay. This collaboration expands access to over 50 million merchants, bridging DeFi and everyday commerce while supporting AI payment standards for future adoption.

BridgeCard, co-founded by Owumi Festus and Tunde Adewole, is a fintech app that consolidates users' financial accounts for seamless transactions. Selected for Y Combinator's S22 batch, it raised $440,000 to enhance its platform and user base.