The top 5 African blockchain startups to watch in 2021

This post delves into the often misunderstood, yet undeniably revolutionary world of blockchain and the top blockchain startups in Africa.

It’s 2021, and the usage of blockchain technology is increasing year after year as the whole world is joining the league. African countries, in particular, have made huge innovations in this space, transforming the face of this whole blockchain industry.

With this purpose, we list below 5 of the most promising African blockchain startups to watch in 2021. These startups support and diversify the use of blockchain technologies across Africa.

We compiled this list by analysing the startup growth rate, investment funds, global availability, startup ideas, among others.

Yellow Card

Our first on the top 7 African Blockchain Startups to Watch in 2021 is Yellow Card.

Yellow Card was founded in 2016 by Chris Maurice and Justin Poiroux with the idea of enabling Africans at home and abroad to buy and sell cryptocurrency using their local currency via bank transfer, cash, and mobile money.

The startup was officially launched in 2019 in Nigeria where it has over 35,000 merchants and was said to have processed more than US$165 million in crypto remittances in 2020 alone. That same year, it expanded operations to South Africa and Botswana and raised $1.5m seed funding to launch its services in Kenya and Cameroon.

In 2021, Yellow Card will be adding more features to enable more seamless transactions. The app will support some local languages, including Igbo, Arabic, Afrikaans, French, Hausa, Luganda, Mandarin, Portuguese, and Swahili.

Akoin City

Famous African-American singer Akon is building a futuristic $6 billion Akon City in Senegal that will use akoin cryptocurrency (AKN) as the primary currency. The akoin cryptocurrency began trading against BTC and USDT on the Bittrex Global crypto exchange on Nov. 11. 2020 and in the same year launched as a means of payment in a tech city in Kenya as a pilot for Akon City.

It is believed that the akoin cryptocurrency system will be implemented for the 35,000 residents and over 2,000 merchants at the Akon City with an estimated 20,000 workers said to be paid in the akoin cryptocurrency by the end of 2021.

Bitsika

Two Ghanaians, Atsu Davoh and Samuel Boahen created Bitsika in 2018. Since then, the startup has had over 1,000 users and made over $700,000 in revenue.

Bitsika allows for ease in transactions between selected African countries in Ghana, Nigeria, Cameroon, Gabon, Senegal, Ivory Coast, Mali and Mauritius. The transactions are without charges within a specific transaction threshold.

Users can trade in local currencies; Ghanaian cedi, Nigerian naira, U.S. dollar or the CFA franc, and in cryptocurrencies; Bitcoin and stablecoin via bank transfer, cash, and mobile money.

Bundle Africa

Yele Bademosi launched Bundle Africa in April 2020 with the idea of creating a cryptocurrency and cash exchange platform that will be socially attractive and friendly.

Bundle Africa app allows crypto sending, requesting, and receiving of cash or crypto using an app in the form of social media. It was created that way for the native African user in mind so as to make them feel cryptocurrency exchange like everyday digital transactions.

This is one of the African blockchain startups to watch in 2021 as social media usage in Africa increases.

The Sun Exchange

The Sun Exchange specialises in renewable energy investments, making it unique among other blockchain technology startups. The idea is to get people to invest in solar projects in South Africa using Bitcoin as a means of investment, and in 2021, The Sun Exchange will be looking to have similar investments across other African countries after it raised $3 million Series A funding to expand its operations.

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