Marius Reitz is quoted in the report pointing to the East African country’s booming crypto market as well as Kenyan people’s familiarity with digital payment solutions. cryptocurrency peertopeer
In his Africa crypto market predictions for 2022, Marius Reitz, the general manager for Luno in Africa, has predicted that Kenya will scale up the adoption of cryptocurrencies. To support this assertion, Reitz points to Kenya’s as position as the leader in the world’s peer-to-peer traded volumes for the second year running.
“The country’s crypto industry is booming with a rapidly emerging crop of companies building blockchain-based solutions and considering its young population, high heels of mobile connectivity and familiarity with digital payment solutions like mobile money, it’s firmly positioned to emerge as East Africa’s leading crypto hub in 2022,” Reitz is quoted in the report explaining.
However, Reitz is quoted in the same report warning that real progress in this area will also depend on the progress on the regulatory front. He said: Similar to most aspects of the crypto industry, progress in this area will be heavily dependent on a favourable regulatory climate and should this materialise, cryptocurrencies could emerge as a major asset for companies with extensive operations throughout Africa.
Despite these and other potential hurdles, Reitz still reiterated his belief that Africa is in a better position to adopt cryptocurrencies than other continents.