Technext’s Post

Paystack’s parent company, Stripe has announced that users from over 70 countries used stablecoins for online transactions in just 24 hours since it began allowing merchants using its platform to accept crypto payments again. Just yesterday (October 9), Stripe merchants in the US were authorized to receive the circle-issued stablecoin USDC through their online checkout pages. https://lnkd.in/dTv-8yAS

Global startup funding dropped significantly in Q3 2024, with startups raising $54.7 billion, a 19.7% decline from Q2’s $68.1 billion. This is also an 11.8% decrease from Q1’s $62 billion, marking the lowest funding level since 2020. Read more: https://lnkd.in/d_iMzJTs

Nigeria’s financial services have progressed from in-person banking to digital innovations like ATMs and mobile transfers, driven by NIBSS and early fintech leaders like eTranzact and Interswitch. Now, the sector is entering the next phase: decentralized finance (DeFi). DeFi enables peer-to-peer transactions, removing intermediaries, and offering cheaper, accessible services. However, it presents challenges, particularly in terms of security and regulation, which need to be addressed. Read more: https://lnkd.in/d86BkSm5

The Ministry of Arts, Culture and Creative Economy (FMACCE), in collaboration with Google, has launched an initiative to empower 2,500 young creatives to scale this number to 10,000 across Nigeria through a dedicated training program delivered by the Del-York Creative Academy. https://lnkd.in/gcV-mtHQ

The Innovation Support Network (ISN) Hubs Annual Gathering 2024 Exhibition is an opportunity for businesses to present their products and services to over 500 attendees. Exhibitors will have direct access to a targeted audience of entrepreneurs, potential partners, and customers. With media exposure and networking opportunities, the exhibition is the perfect platform to build brand recognition, launch new products, and engage with a vibrant entrepreneurial community. Whether you're a startup or an established business, exhibiting at ISN AG 2024 will give your business the visibility and engagement it deserves. To exhibit and secure your spot in the Exhibition, kindly register here: https://lnkd.in/gfhRwaYV

Ethio Telecom (Ethiopian Telecommunications Company), the country’s major internet and service provider, will be the first company to list on the East African country’s new stock market next week. Following the bourse establishment and the privatization of the government-owned enterprise, the company will make a record mark, as the Ethiopian government is set to trade a 10% stake in it next week https://lnkd.in/gS9w7ww5

Guaranty Trust Bank (GTBank), as of today, October 9, announced its system transition plan to a robust suite of core banking application systems which is set to cause a temporal shutdown to its banking system this weekend. The process which is set to commence on Friday, October 11, is set to cause disruptions to its banking activities. The bank also made it known that there will be an early closure of services across its branches nationwide on Friday. https://lnkd.in/g-sp6dxz

The South African Revenue Service (SARS), has announced a move to enforce tax compliance on crypto assets. Now, taxpayers who hold digital currencies have to declare their holdings to enforce taxation. With this development, the SARS follows in the footsteps of the Federal Internal Revenue Service (FIRS) of Nigeria which made an announcement recently about the introduction of new tax laws regulating cryptocurrency. https://lnkd.in/gY_WrmkJ

The ISN AG 2024 Deal Room is the ultimate pitching platform for startups, businesses, and innovators to showcase their ideas and connect with investors and key decision-makers. This year, participants have the chance to win $200,000 in cloud credits and compete for other lucrative cash prizes. It’s a unique opportunity to present groundbreaking innovations and secure the resources needed for growth and scaling. Whether you’re an entrepreneur looking to take your business to the next level or an investor seeking the next big thing, the Deal Room is where connections happen and deals are made. To Apply for the ISN Annual Gathering 2024 Deal Room as a Startup/Entrepreneur, register here: https://lnkd.in/dtP6cjxK To Apply as an Investor, register here: https://lnkd.in/dNB9zaeY   To find out more about the Deal Room, visit this website: isnhubs.org.ng/deal-room/