The Business Times
business-time-50
Global Enterprise logo
BROUGHT TO YOU BYUOB logo
SUBSCRIBERS

In Rwanda, crypto gains ground as investment asset class and for transactions

google-preferred-sourceAdd BT as a preferred source

Chong Xin Wei

Published Sat, Sep 16, 2023 · 08:00 AM
    • FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum and DogeCoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/File Photo
    • While Rwanda's government has banned banks from facilitating crypto transactions, many locals are hopeful that Rwanda’s crypto scene will blossom on the back of a digitalising economy.
    • FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum and DogeCoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/File Photo REUTERS
    • While Rwanda's government has banned banks from facilitating crypto transactions, many locals are hopeful that Rwanda’s crypto scene will blossom on the back of a digitalising economy. PHOTO: PIXABAY

    THIRD-YEAR agriculture student Max Mucyo, 22, has been funding his daily necessities and university fees with profits earned from cryptocurrency investments.

    His first encounter with crypto was two years ago, when he received 100 USD Tether, the equivalent of US$100, for a web design job.

    Mucyo, who did not know how to exchange crypto for cash at the time, turned to tutorials on YouTube, which led him down the rabbit hole of crypto investments.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    CryptocurrenciesAfrica

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    PayPal has struggled despite its storied history as a financial-technology company.

    PayPal plans job cuts as its new CEO pursues turnaround strategy

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More