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The companies that led the seed round were capital firms Distributed Global and Alter Global. Distributed Global invests mainly in blockchain companies, while Alter Global focuses on startups in emerging markets. Other firms that participated include Serena Ventures, Alameda Research, A&T Capital, MSA Capital and 4DX Ventures.
Serena Williams invested in Nestcoin to drive crypto adoption in Africa as the Nigerian startup is building products to help Africans understand and adopt crypto. Yele Bademosi and Taiwo Orilogbon co-founded Nestcoin.
According to Chainalysis, Africa’s cryptocurrency market grew by 1,200%, to US$105.6 billion, between July 2020 and June 2021. High inflation rates, weak currencies, increased unemployment rates and economic instability have supported the exponential growth of crypto in the continent.…