At the Finance Magnates Africa Summit:25, a panel discussion titled The Future of Crypto, Lessons from Africa brought together speakers to examine key developments in the cryptocurrency sector.

The panel featured Andres Felipe Perez, Director of Fintech Services South Africa, as moderator, alongside Hannes Wessels, General Manager South Africa at Binance; Christo de Wit, Country Manager South Africa at Luno; Pierre van Helden, Co-Founder and Director of Business Development at FiveWest; and Callan Richardson, Head of Growth at Bitget.

The discussion focused on major themes shaping the crypto industry, including Bitcoins recent price volatility, adoption trends in South Africa, regulatory challenges, and emerging use cases across the African continent.

The session opened with an assessment of Bitcoins volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instruments fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instruments fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term , with prices ranging between $66,000 and $111,000. The panel attributed this to a combination of institutional interest, excess liquidity, and network-level indicators.

The panel emphasized the significance of regulatory progress in the United States: The approval of the spot Bitcoin ETFs in the US signaled almost an institutional stamp of approval into Bitcoin and into crypto as an asset class.

Global monetary conditions were also highlighted as a key driver: As long as you've got a liquidity surplus cycle where we're in at the moment, I think that's going to continue driving the price.

In addition, the panel pointed to the growing Bitcoin hash rate and user activity as signs of continued network strength and long-term value. Overall, institutional participation and clearer regulatory signals were identified as stabilizing factors.

Crypto Trends in South Africa

South Africa was described as a leading hub for cryptocurrency use in Africa, with an estimated 6.57 million users. The panel noted that most people in the country approach crypto as an investment rather than for day-to-day transactions. South Africa has a well-functioning banking system, so for us, it's more trading, buying, and selling of coins.

The panel also noted a shift toward broader use cases. Platforms are expanding their offerings to include staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term services, product bundles, and payment options at retail outlets. Were really changing where crypto is previously just seen as buying Bitcoin holding it for investment purposes to a broad scale of utility-driven functionality.

Education was cited as an essential tool for adoption, especially among younger users, with platforms launching campaigns to improve blockchain literacy and reduce user hesitation.

A large part of the discussion centered on recent legal and regulatory developments. A court decision excluding crypto from exchange control regulations has raised new questions about compliance and capital movement. The panel expressed concern about the potential for restrictive interpretations: If the Reserve Bank says all crypto transactions are seen as point of externalization, that's going to be very limiting.

There was broad agreement that South Africa needs clear, responsible regulation aligned with international norms. We need to use this opportunity to include digital assets in a responsible framework where people can grow their wealth without overly restrictive controls.

The panel also questioned how traditional exchange control mechanisms could be applied to inherently global digital assets. From the moment you purchase a crypto asset, it's inherently global. How do you regulate something with exchange controls unique to South Africa?

Bitcoin as a Reserve Asset

The idea of adding Bitcoin to South Africas national reserves received mixed responses. Some saw value in Bitcoins limited supply and potential as a hedge against inflation and currency volatility.

To have a Bitcoin reserve could be a very good edge for us, especially with our volatile currency and rising government debt. Others argued that the idea is premature given the countrys regulatory position.

Having that conversation in the South African context is getting ahead of ourselves. Theres still a lot of progress needed. There were also questions about whether Bitcoin is suitable for central banks in managing monetary policy.

Developments and Emerging Trends

The panel shared updates on their respective platforms. These included the rollout of AI tools for traders, community-driven token listings, staking services, and crypto payments at major retailers. There was also a focus on DeFi tools for multi-wallet users and educational programs targeting youth and first-time investors.

Security and Awareness

In response to an audience question about AI threats to blockchain systems, the panel stressed the importance of self-education and accessible resources. Education is key here. Please use free resources to understand the security and business cases of different blockchains.

Importance of Regulation and Education

The panel concluded that South Africa is well-positioned to lead crypto adoption in Africa. However, the path forward depends on regulatory clarity, user education, and industry collaboration. While cryptos future remains promising, the panel noted that policy alignment and practical utility will determine its long-term impact.

At the Finance Magnates Africa Summit:25, a panel discussion titled The Future of Crypto, Lessons from Africa brought together speakers to examine key developments in the cryptocurrency sector.

The panel featured Andres Felipe Perez, Director of Fintech Services South Africa, as moderator, alongside Hannes Wessels, General Manager South Africa at Binance; Christo de Wit, Country Manager South Africa at Luno; Pierre van Helden, Co-Founder and Director of Business Development at FiveWest; and Callan Richardson, Head of Growth at Bitget.

The discussion focused on major themes shaping the crypto industry, including Bitcoins recent price volatility, adoption trends in South Africa, regulatory challenges, and emerging use cases across the African continent.

The session opened with an assessment of Bitcoins volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instruments fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instruments fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term , with prices ranging between $66,000 and $111,000. The panel attributed this to a combination of institutional interest, excess liquidity, and network-level indicators.

The panel emphasized the significance of regulatory progress in the United States: The approval of the spot Bitcoin ETFs in the US signaled almost an institutional stamp of approval into Bitcoin and into crypto as an asset class.

Global monetary conditions were also highlighted as a key driver: As long as you've got a liquidity surplus cycle where we're in at the moment, I think that's going to continue driving the price.

In addition, the panel pointed to the growing Bitcoin hash rate and user activity as signs of continued network strength and long-term value. Overall, institutional participation and clearer regulatory signals were identified as stabilizing factors.

Crypto Trends in South Africa

South Africa was described as a leading hub for cryptocurrency use in Africa, with an estimated 6.57 million users. The panel noted that most people in the country approach crypto as an investment rather than for day-to-day transactions. South Africa has a well-functioning banking system, so for us, it's more trading, buying, and selling of coins.

The panel also noted a shift toward broader use cases. Platforms are expanding their offerings to include staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term services, product bundles, and payment options at retail outlets. Were really changing where crypto is previously just seen as buying Bitcoin holding it for investment purposes to a broad scale of utility-driven functionality.

Education was cited as an essential tool for adoption, especially among younger users, with platforms launching campaigns to improve blockchain literacy and reduce user hesitation.

A large part of the discussion centered on recent legal and regulatory developments. A court decision excluding crypto from exchange control regulations has raised new questions about compliance and capital movement. The panel expressed concern about the potential for restrictive interpretations: If the Reserve Bank says all crypto transactions are seen as point of externalization, that's going to be very limiting.

There was broad agreement that South Africa needs clear, responsible regulation aligned with international norms. We need to use this opportunity to include digital assets in a responsible framework where people can grow their wealth without overly restrictive controls.

The panel also questioned how traditional exchange control mechanisms could be applied to inherently global digital assets. From the moment you purchase a crypto asset, it's inherently global. How do you regulate something with exchange controls unique to South Africa?

Bitcoin as a Reserve Asset

The idea of adding Bitcoin to South Africas national reserves received mixed responses. Some saw value in Bitcoins limited supply and potential as a hedge against inflation and currency volatility.

To have a Bitcoin reserve could be a very good edge for us, especially with our volatile currency and rising government debt. Others argued that the idea is premature given the countrys regulatory position.

Having that conversation in the South African context is getting ahead of ourselves. Theres still a lot of progress needed. There were also questions about whether Bitcoin is suitable for central banks in managing monetary policy.

Developments and Emerging Trends

The panel shared updates on their respective platforms. These included the rollout of AI tools for traders, community-driven token listings, staking services, and crypto payments at major retailers. There was also a focus on DeFi tools for multi-wallet users and educational programs targeting youth and first-time investors.

Security and Awareness

In response to an audience question about AI threats to blockchain systems, the panel stressed the importance of self-education and accessible resources. Education is key here. Please use free resources to understand the security and business cases of different blockchains.

Importance of Regulation and Education

The panel concluded that South Africa is well-positioned to lead crypto adoption in Africa. However, the path forward depends on regulatory clarity, user education, and industry collaboration. While cryptos future remains promising, the panel noted that policy alignment and practical utility will determine its long-term impact.