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Ethena Labs launches new stablecoin backed by Blackrock Nexovant
Ethena labs have joined the race to launch stablecoins launching a new stablecoin backed by Blackrock. The new stablecoin is USDtb and is backed by BlackRock’s USD Institutional Digital Liquidity Fund. Ethena Labs announced the development via its official Twitter Page, revealing details of the launch and BlackRock’s’ involvement in it. “Today we are launching […]
Billionaire Patrice Motsepe’s Tyme worth $1.5 billion becomes Africa’s 9th unicorn Nexovant
Tyme Group, the Singapore-headquartered digital banking group backed by South African billionaire Patrice Motsepe, has officially become Africa’s 9th unicorn after raising $250 million in its Series D funding round. The capital injection propelled the fintech’s valuation to $1.5 billion, marking a significant milestone for the multi-country digital lender. The Series D round was led […]
African investors contribute 22.76% of Nigeria’s foreign capital in Q3 2024 Nexovant
The National Bureau of Statistics (NBS) has revealed that African investors (excluding those from Nigeria) contributed 22.76% of the total foreign capital imported into Nigeria in the third quarter of 2024. This amounted to $285.11 million, showing a significant role played by African countries in the capital importation landscape. However, an analysis of the capital […]
Why Africa needs local cloud providers Nexovant
What an awful time to start a company. The economy is depressed, many sectors are struggling, inflation in Nigeria is at a 28-year record high of 33.88% and the currency’s value is dropping faster than a sinking submarine. But weʼve been here before – many times. When Covid hit, launching a start-up was also a […]
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