“Stablecoins are sensible, particularly in Africa. They remedy cross-border fee points and remittances, which can price as much as 20% in Africa. At an organization I am the Co-Founding father of, Xago, we’ve constructed stablecoins for six completely different currencies (USD, ZAR, Euro, AUD, Pound and NGN), sending transactions in seconds for pennies,” stated Sonya Kuhnel, the managing director and co-founder of Bitcoin Occasions, in an interview with Enterprise Report government editor Philippa Larkin on Friday.
The interview was held every week earlier than Bitcoin Occasions upcoming digital Strategic Bitcoin Reserve Summit. Bitcoin Occasions hosts a number of Web3 occasions together with Africa’s first and largest blockchain convention, the famend Blockchain Africa Convention.
The inaugural occasion is testing the waters for discussions round Bitcoin as a nationwide asset and can also be an indication how far digital currencies have progressed as they rework the monetary panorama within the transfer away from fiat cash. Fiat cash is government-issued forex.
Kuhnel, an entrepreneur and educator within the blockchain and cryptocurrency sectors, stated that impressed by US developments it’s the primary time their firm is tackling this theme, with audio system from the United States main the cost on state-level Bitcoin reserves.
“Bitcoin’s king for worth storage, however stablecoins remedy funds. Our summit showcases these international traits to teach Africans on alternatives and challenges,” she added.
Regulation’s key, although, “South Africa’s categorised crypto as a monetary product, however we want extra readability.”
She defined that the US is forward in regulation of stablecoins, embracing Tether and Circle. Bitcoin’s a retailer of worth, up 628 782% in 10 years, however stablecoins are for funds.
Kuhnel emphasised that stablecoins drive digital inclusion in funds and is already changing into a recreation changer for Africa with one of many highest adoption charges on this planet.
What’s stablecoin?
In accordance with the World Financial Discussion board (WEF), a stablecoin is a sort of cryptocurrency that’s pegged to a particular reserve asset. By being linked to an underlying asset, stablecoins can keep a steadier worth, making them a extra dependable medium of change than different risky cryptocurrencies.
“Stablecoins are issued with a promise to maintain a worth that’s secure relative to an exterior anchor,” famous a WEF white paper on digital currencies. Whole switch quantity of stablecoins hit $27.6 trillion (R483trl) final 12 months, surpassing the mixed quantity of Visa and Mastercard transactions in 2024, the WEF famous.
Constructing a Crypto Ecosystem
Kuhnel defined within the interview that she began entering into the Bitcoin area in 2013. In 2014, Kuhnel co-founded Bitcoin Occasions with Theo Sauls. This emerged because of their early adoption of bitcoin and their robust perception within the transformative potential of blockchain expertise. With a eager give attention to addressing challenges – reminiscent of monetary inclusion, financial growth, and job creation – they recognised the necessity for schooling and data on blockchain expertise and cryptocurrencies within the area.
She stated when it comes to illustration at Bitcoin Occasions, 75% of their viewers is African, of which 70% is South African. There was additionally an incredible quantity of curiosity from the US and from the UK in what’s occurring in South Africa. Traders are organising in Africa, as a result of there’s an incredible quantity of untapped potential for them to seize this market, as a result of they do know that cryptocurrency adoption is without doubt one of the highest in Africa at present. Kuhnel stated the selection was mainly between South Africa, Kenya, and Nigeria.
However, in South Africa there’s good infrastructure – plenty of world-class individuals who perceive this area very effectively. South Africa has clear regulation, which is a large profit, in order that they’ll function in a transparent, regulated framework. So we’re seeing corporations like Bitget, the largest copy-trading platform on this planet, now entered Africa.
South Africa’s Rising Enchantment
South Africa, she famous, is more and more engaging to worldwide corporations attributable to its expertise pool, infrastructure, and pro-regulatory stance. Corporations like Bitget, Solana, and the Stellar Basis are organising operations, seeing Africa as an untapped market with excessive crypto adoption charges. Kuhnel highlighted that latest geopolitical tensions between america and South Africa are impacting the native trade. When partaking with potential US delegates about South African Bitcoin Occasions, she encountered rising scepticism from American contacts, who more and more view South Africa as a dangerous or marginal participant within the international cryptocurrency panorama. This notion is a irritating impediment, significantly given South Africa’s well-established experience and innovation within the monetary expertise sector.
Regardless of this, Kuhnel stated prior to now two months there was elevated curiosity within the Bitcoin Occasions she runs. “We’ve bought the banks phoning us and asking us to be a part of these occasions once more, whereas I’d say for the final three years, they’ve proven no curiosity as a result of they had been ready for clear regulation. Africa may be very a lot centered on monetary establishments, like banks and regulators. It’s grow to be fairly company and probably not a community-based occasion anymore. It’s for monetary establishments to showcase how they’ll profit from this expertise for funds, for commerce dietary supplements, for tokenisation of property, and likewise for stablecoin utilization.”
Bitcoin Goes Mainstream
Kuhnel mirrored on the journey of Bitcoin adoption she first began in 2013 to present occasions in 2025. “It’s loopy to suppose the place we at the moment are. We had been speaking about how Bitcoin could be used for monetary inclusion and the way to incorporate sooner funds so that folks in Africa might be a part of the economic system in the event that they don’t have a checking account. I by no means envisioned {that a} nation just like the US could be doing what they’re doing now. The truth is, final 12 months, Donald Trump went to a Bitcoin convention in Las Vegas, and he was one of many keynote audio system. He stated that they need America to grow to be the crypto capital of the world. That was the primary time I heard this, and I used to be like, that is big.”
Kuhnel stated prior to now six months, she had grow to be significantly fascinated by geopolitical and financial international growth. “Then Senator (Cynthia) Lummis got here out final 12 months, speaking concerning the Bitcoin Act, about how they wish to begin buying Bitcoin within the strategic reserve. Only some months in the past, nobody needed to speak about Bitcoin, and now out of the blue we now have a 360-degree shift. It’s simply loopy how shortly it’s modified.”
On a private notice, Kuhnel noticed that Bitcoin made one begin questioning the present world and the dynamics that we’ve had for the final 100 years: why are issues the way in which they’re?, is it working? and why ought to it change? “For this reason I do admire what Donald Trump is doing to some extent, as a result of he’s shaking all of it up and saying, we’ve had sufficient of this. I agree. The world is altering very quick due to him. However I do really feel that was the shake-up wanted,” she added.
Geopolitics and Bitcoin Mining
Geopolitics are additionally at play. “Earlier than 2021, Bitcoin mining in China was 75% of the hash fee was coming from China. I keep in mind considering, that is big, as a result of they’ve a large affect on the Bitcoin protocol by having a lot energy over the hash fee, having 75% of the Bitcoin mining functionality,” she stated.
In cryptocurrency and blockchain expertise, a hash fee is a measure of what number of calculations or hashes a mining rig (or community) can carry out per second. It’s a vital metric for understanding the computational energy and safety of a blockchain community. “Then they, for my part, did such a silly transfer – they banned Bitcoin and Bitcoin mining. A whole lot of the Bitcoin mining went underground, and so now the Bitcoin mining has moved out of China. They went to the US. There at the moment are many corporations in America and Canada doing Bitcoin mining. Bitcoin mining additionally retains popping up within the conversations,” she stated.
Of notice, in March, Trump additionally introduced a Bitcoin mining enterprise with Hut 8, a publicly traded Bitcoin mining firm. This because the Trump household crypto portfolio is already value an estimated $1 billion, based on a Bloomberg evaluation based mostly on knowledge from public information. Kuhnel stated she has adopted this growth “very intently”. She stated they understand how essential it’s for a rustic to have Bitcoin mining energy in America, as a result of then they’ve a say within the Bitcoin protocol finally, as a result of they personal plenty of the hash fee, and the ability stays inside that nation. So I believe they’re main the race with Bitcoin mining.”
Wanting Forward
Wanting forward, Kuhnel is enthusiastic concerning the upcoming digital Strategic Bitcoin Reserve Summit, the place audio system will delve into Bitcoin’s evolving position and its potential as a world reserve forex. A key dialogue will weigh whether or not Bitcoin or gold holds better strategic worth as a reserve asset for nation-states, contemplating stability, liquidity, and geopolitical implications.
As these conversations occur regionally, in America the Safety Change Fee’s Crypto Job Pressure too is ponderting the way in which forward with a collection of webinars, and as regulation and payments will open up the crypto panorama.
Kuhnel has charted her journey in cryptocurrency since 2013, and now, in 2025, the foundations of this transformative trade are firmly in place. The crypto panorama is evolving at breakneck pace, pushed by international innovation and ambition. With the US pushing for clearer crypto laws, 2026 is poised to speed up institutional adoption, shaping the way forward for digital property worldwide. By her insights, Kuhnel illuminates the chances that lie forward, inspiring us to check a world the place blockchain redefines finance and alternative.
Philippa Larkin is the manager editor of Enterprise Report.
*** The views expressed right here don’t essentially symbolize these of Unbiased Media or IOL.
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