The dynamic world of blockchain & cryptocurrency

2023 has proven to be a prosperous year for Bitcoin bulls, with the digital asset's price more than doubling since the beginning of the year. This surge has largely been fueled by the anticipation of the approval of the first spot Bitcoin ETF by US authorities. To delve into the cryptocurrency landscape in Africa, CNBC Africa recently sat down with Hannes Wessels, the General Manager of Southern and Francophone Africa at Binance, a major cryptocurrency exchange platform. During the interview, Wessels discussed the impact of ETFs on the market and the rate of adoption of cryptocurrencies across the continent. He also touched on corporate adoption, the relationship between traditional financial institutions and cryptocurrency players, as well as the current state of cryptocurrency regulation in Africa. Wessels highlighted the positive trends in adoption rates, the differences in adoption levels across regions like Nigeria and South Africa, and the potential for increased collaboration between the fiat and crypto worlds. In terms of regulation, Wessels commended the collaborative and enabling approach taken by regulators in South Africa, emphasizing the importance of compliance and cooperation in driving the industry forward. Looking ahead to 2024, Wessels expressed Binance's goal of furthering cryptocurrency adoption, particularly in underserved areas, and expanding their network across key African markets. This article provides an in-depth analysis of Wessels' insights and the key points discussed during the CNBC Africa interview, shedding light on the dynamic world of blockchain and cryptocurrency in Africa.