Marius Reitz, the general manager for Luno in Africa, predicted that Kenya will increase its cryptocurrency acceptance in 2022.
Kenya is estimated to reach the world’s peer-to-peer cryptocurrency industry for the second year in a row, according to Marius Reitz, the general manager (GM) of the Luno cryptocurrency exchange in Africa.
According to a source, the GM justified his choice of Kenya above the traditional heavyweights by citing the East African country’s expanding crypto sector as well as Kenyans’ experience with digital payment systems.
“Considering its youthful population, high rates of mobile connection, and familiarity with digital payment solutions like mobile money, it’s solidly positioned to emerge as East Africa’s premier crypto centre in 2022,” Reitz is quoted in the report.
Kenya is one of the top three markets for Bitcoin, a popular cryptocurrency
Reitz is highlighted in the report, not just for anticipating Kenya’s prolonged domination of the P2P cryptocurrency sector, but also for highlighting the continuous problems faced by African enterprises seeking foreign money via conventional markets. He believes that such African businesses would be compelled to “turn to cryptocurrency as an alternative to processing cross-border transactions.”
