Crypto exchanges target Africa with student scholarships

Kenyan students are set to benefit from cryptocurrency scholarships as global exchanges expand in Africa, seeking growth amid tightening regulations in other markets.

The programme will support at least 100 students in Kenya and Ethiopia, offering awards from Sh12,900 ($100) to Sh516,000 ($4,000) to help cover university and college costs.

Applicants are expected to pursue studies in technology, finance, or related fields, with selection based on short video submissions that outline their goals.

Analysts argue the strategy helps exchanges build trust in emerging markets where adoption is growing but regulation remains uneven.

Observers note it also blends community outreach with expansion plans.

Kenya has no formal crypto regulation, though the Central Bank has warned against trading in unregulated digital assets. Draft legislation to create oversight is under review.

Bybit, one of the world’s largest cryptocurrency platforms by trading volume, says education is key to building a more inclusive digital economy.

 “Africa’s young population is the driving force behind the continent’s innovation and growth,” said Wilson Ogheneovo, the company’s Africa regional manager.