Highlights From Day 1 From The Africa Money And DeFi Summit West Africa

Today was the official kick-off of the Africa Money And Defi Summit West Africa. The event was held at the Movenpick Hotel in Accra.

In attendance were various players and stakeholders in the fintech and DeFi space including Polygon, Flutterwave, Bamboo, Bitpowr, Paystack, EMTECH and many others.

It was a day of panels, keynote addresses, and a couple of masterclasses from Amazon Web Services and the Bank of Ghana.

Here are a couple of highlights from Day 1:

WiPay Has An Interesting Use Case For Cross Border Payments In The Caribbean

Aldwyn Wayne, CEO of WiPay made an interesting presentation, detailing how WiPay is trying to make cross-border payments from the Caribbean a reality.

He spoke about how the company is working on “WiCoin”, a stablecoin pegged to the dollar, for users to near instant payments and cross-border transactions easy for people in the Caribbean.

Bank Of Ghana’s Stance Is Still A “No” On Regulation Of Cryptos

Despite the popularity of crypto apps like Yellow Card and others, the Bank of Ghana is still not committed to cryptocurrency from a regulation standpoint.

On stage on a panel, the head of Fintech at Bank of Ghana, Kwame Oppong says the regulator is not pushing for regulation for crypto in the country at the moment.

The Bank of Ghana is still however open to technologies like stablecoin and is currently finishing up piloting their digital currency the “E-Cedi”.

Crypto Is Still A Big Trend In Africa

There were keynotes and panels about some of the use cases for Crypto and DeFi. Polygon had a keynote earlier in the day where they spoke about DAOs and how developers can leverage the Polygon platform.

There were also panels on DeFi and a presentation from the Realest Club about how to invest in the real estate market using crypto.

Realest Club presentation

Follow us on Tech Nova to get live updates from Day 2

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