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Venture funding for African crypto startups grew 11x in 2022: Report -Breaking

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The report shows that venture funding for African crypto-startups grew by 11x between 2022 and now

Many Africans continue to Adopt crypto and blockchainA new report by Standard Bank and Crypto Valley Venture Capital, which is a blockchain investment company, found that more venture funds were flowing to Africa’s continent during Q1 2022, than it did in Q1 20,21.

The report, titled “The African Blockchain Report 2021,” ShowsIn the first quarter 2022, blockchain startups raised $91 million. Q1 2022 saw a 1,668% year-on-year increase in cash inflow compared with Q1 2021’s growth of 149% — a jump of more than 11x, according to CV VC.

The top African nations that have raised capital the most in 2021 are: Source: African Blockchain Report