Exciting Web3 opportunities in MENA and Africa

Dear readers,

Over recent weeks, Nick and I have attended many stimulating discussions during our time in Dubai, particularly amidst the thought-provoking exchanges at the Satoshi Roundtables. Many of these touched on the growing potential of Web3 & blockchain technology in different markets worldwide. 

In XEROF's latest research piece, our research team dives deeper into the specifics and opportunities of the Middle East and North Africa, as well as across the greater African continent, emphasising exciting growth trajectories and showcasing how Web3 can impact a region's workforce and economy. From the vibrant tech hubs of Dubai to the grassroots movements driving digital financial empowerment in Africa, there's a palpable sense of momentum and possibility that cannot be ignored.

Furthermore, as Bitcoin’s price continues to grow, it shows the enduring viability of cryptoassets and decentralised technologies. This positions BTC as a formidable asset class, and the broader industry stands to benefit, signalling a promising start to the year 2024. I invite you to read this week's newsletter edition, where we explore these themes in greater detail.

Warm regards,

Marc Taverner

Market Moves & News of Note 

Bloomberg: As Bitcoin rallies, banks are pushing US regulators to change cryptoasset guidance
Powerful interest groups urge the SEC to adjust accounting rules, increasing costs for US banks handling digital assets, amidst bipartisan pressure in Congress for guidance repeal. Discussions here could shape the regulatory framework for digital assets.

CoinDesk: 2 reasons Bitcoin could challenge record high of $69K before halving
Bitcoin may rally significantly before its fourth halving event on April 19th, historically showing a 32% average increase in the 60 days prior. Recent technical indicators, like Bitcoin's RSI crossing above 80, further support this trend, indicating bullish sentiment among investors despite macroeconomic uncertainties.

Cointelegraph: Grayscale’s GBTC outflows reach $7B, but data shows it’s slowing
Grayscale's Bitcoin Trust is experiencing substantial outflows since converting to a spot Bitcoin ETF, potentially due to investors seeking lower fees and rebalancing portfolios. Observers anticipate further outflows, considering Grayscale's comparatively high fees.

Views from Switzerland

Other reading, insights and resources from XEROF.

The most powerful Web3 leaders of 2024
The MENA region's leadership in Web3 technologies, notably in Dubai, is driven by early digital asset adoption and supportive regulations, while Africa, led by Nigeria, reflects a shift towards digital financial empowerment, presenting significant global economic potential.

What you need to know about stablecoins in 2024
Stablecoins will play a pivotal role in 2024, driven by their ability to provide stability amidst market volatility, evolution towards more sophisticated blockchain-based instruments, and increasing importance in traditional and decentralised finance sectors.

Powerful control: decentralised identity solutions
Decentralised identity solutions empower users with control over their personal information while meeting regulatory requirements in DeFi. These solutions, leveraging blockchain technology and cryptographic tools like Self-Sovereign Identity (SSI) and Verifiable Credentials, enhance security, privacy, and user experience.

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XEROF is a Swiss-licensed Crypto Gateway that offers exchange services for customers who possess crypto wallets and want to use them as fiat currency to purchase real estate properties and luxury goods.

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