Tether / P2P app / Africa

“Excited to fly to Ghana soon for the AfroBitcoinOrg [First Pan African gathering of Bitcoiners. December 5th-7th, 2022] organized by Farida_N [Farida Bemba Nabourema – AfroCryptoShill in Gladstein’s network] and the team to meet like-minded people to discuss the role of Bitcoin, Tether & in unleashing Financial Freedom and Freedom Of Speech.”

Tweet about AfroBitcoinOrg conf and

What is

“ is a Peer-to-Peer Chat App, built with the Holepunch platform that allows anyone to create apps that don’t use any servers.” – “With Bitcoin Lightning and USDT micropayments built-in, it’s easy to implement and use powerful paid features in apps.”

What is Holepunch?

Why did a crypto exchange and “stablecoin” generator develop a communication app?

“Some of the leading players in the cryptocurrency space have jointly developed a new encrypted protocol dubbed Holepunch, which they claim is designed to ‘unlock global communications, empower freedom of speech, and combat censorship around the world.’”

“To put it in another way, Holepunch, jointly developed by Tether, Bitfinex, and Hypercore, is a peer-to-peer (P2P) platform that’s designed to help developers build the next generation of data-intensive Web3 apps.” is based on Holepunch

Both sites don’t give any information on who’s behind etc.

“The Site is operated by Holepunch Inc., a limited company registered in the British Virgin Islands […]”

“The 3 companies have invested a total of $10M into Holepunch’s development, and are expecting to take on additional companies as interest starts building up.”

The site still says “Mobile (coming soon)”…

tweets about Appstores by Paolo Ardoino

Is Paolo lying here? Could be Google or Apple might ask for a share of in-app payments…

“Although I’ll admit I’m hoping it’s more an issue of ongoing US DoJ investigations into Tether, and the Govt not being too thrilled with the idea of them expanding their reach.”

Small Patatas on Mastodon

Seems, that as usual, the cryptocolonialists are targeting Africa (see FTX…), at least for the launch… even if not having an app on the continent yet will be a serious limit, but they’re probably at the conference to “evangelize” developers, as they all do…

FTX in Africa – MARA (4)

May 2022: MARA raises $23M from Coinbase Ventures and FTX to build Africa’s portal to the crypto economy.”

MARA was supposed to be Central African Republic’s official crypto partner…
A relationship with the Central African Republic was confirmed by the exchange team. MARA will function as the country’s official crypto partner, advising the government on best practices, strategy, and planning as it considers greater adoption of cryptocurrencies.
No news, since the botched Sango Coin launch.

Around 11/16, promotions for the launch of their own token started, based on a brand new layer-1 blockchain.
Since then, any mention was quietly deleted…

logo Mara

More info:

Update: “Mara and Chipper Cash are not affected by the FTX bankruptcy”, they say…

FTX & Africa (3) – Nestcoin

Feb 6 2022: Nigerian crypto & Web3 startup Nestcoin Closed $6.45 Million in Funding from Alameda Research and others.

Nov 14 2022: African crypto firm Nestcoin will lay off some of its staff due to the FTX debacle. The firm stored some of the funds it raised on FTX.

Per the statement, “user funds are safe.

Nestcoin statement to investors

More on TechCrunch.

FTX in Africa (2)

Multiple possible impacts of the presence of FTX in Africa.

FTX in Africa: an aggressive ground game (tweet capture)
FTX also had an aggressive ground game in rural Africa and huge investments in African Fintech. They were onboardin like crazy in places that didn’t have stable banking access. I can’t imagine how some of these people are feeling right now. Devastating.

The fallout from this will impact things in places and ways we cannot grasp right now.

FTX activities on the ground:

FTX was not only an exchange but they were building infrastructure that provided groundwork for mass adoption, unboarding unbanked in Africa, offering payment on and off ramp, as well as custodial wallets and credit cards.

“I was a campus ambassador in Nigeria. We were doing crazy work in Nigerian universities and towns as regarding crypto education and web3 onboarding, all sponsored by FTX. I wouldn’t even mention the amazing impact of FTTDAO.”

Some Fintech startups might be at risk, such as ChipperCash, after it received a $150M extension round led by FTX ($2B valuation).
Other names are circulating (to be verified): Kuda, Piggyvest etc.
Some of them may have funds stuck with FTX as they held deposits there…

Update: ChipperCash denied having funds locked due to FTX bankruptcy.

Impact of FTX & SBF in Africa

SBF in Africa: probably not an exhaustive list, but here are some of the subsidiaries of the FTX/Alameda “empire” on the African continent.

  • Alameda Research Yankari Ltd. (Nigeria)
  • B for Transfer Egypt
  • B Payment Services Nigeria
  • B Transfer Services Uganda
  • BitPesa Kenya Ltd.
  • BitPesa RDC SARL
  • BitPesa Senegal Ltd.

Based in Dakar, Senegal, Bitpesa Senegal Suarl is a Private Limited Company that was established in 2017. The organisation operates in the Services sector.

  • BitPesa South Africa
  • BitPesa Tanzania Ltd.
  • BitPesa Uganda Ltd.
  • BT Payment Services Ghana
  • BT Payment Services South Africa
  • BT Payments Uganda
  • BT Pesa Nigeria Ltd.
  • BTC Africa S.A.

BitPesa™ Services “This Agreement is a contract between you and BTC Africa S.A.”

BTC Africa S.A is a company having its registered office at 50 Val Fleuri in Luxembourg, L-2520, in the Grand Duchy of Luxembourg and registered with the number B 211.963. BTC Africa S.A. is a registered PSD agent of B Transfer Service Limited, a Payments Services Provider registered in the United Kingdom and regulated by the UK Financial Conduct Authority and located at 1-3 Brixton Road, London SW9 6DE in the United Kingdom.

  • BTLS Limited Tanzania
  • Exchange 4Free South Africa Br.
  • FTX EMEA Ltd.
  • FTX Zuma Ltd. (Nigeria)
FTX Africa on Twitter

What impact will have the presence of SBF in Africa have? Not clear yet…