Africa is warming up to regulated crypto, with Sponge’s compliance-focused relaunch attracting attention.

In the wake of crypto’s legal victories and the subsequent surge in trading volume, Africa’s growing inclination towards globally regulated cryptocurrencies is becoming more apparent, with Kenya, Nigeria and South Africa at the forefront of taking measures to regulate their crypto markets. 

With crypto majors proving successful in compliance with regulations and skyrocketing in value, the African market is next to give the go-ahead on which cryptocurrency will be future-proofed. Holders have been eyeing Sponge as a worthy option, with it recently relaunching on Polygon and surging 40% within 24 hours and a key selling point to Sponge in the African market is its regulatory compliance.

Sponge: A Project Focused on Compliance and Innovation

Amid Africa’s shifting regulatory landscape, Sponge emerges as a project dedicated to regulatory compliance and innovation. Sponge, recently relaunched on the Polygon network, offers features designed to enhance security, transparency and ethical practices within the crypto space.

At the core of Sponge’s appeal is its distinctive staking mechanism, allowing users to earn rewards on a rolling basis. With stakeholders on the Polygon network reportedly receiving over 7,000% returns, Sponge incentivises long-term holding and active participation within its ecosystem.

Sponge implements a decentralised governance system, enabling community members to participate in decision-making processes. This commitment to transparency ensures inclusivity and fairness within the Sponge ecosystem, aligning with principles of regulatory compliance and responsible conduct.

In response to Africa’s regulatory initiatives, Sponge prioritises compliance with regulatory guidelines and ethical standards. By adhering to the Bank Secrecy Act (BSA) and the Anti-Money Laundering Act of 2020, Sponge sets a precedent for responsible conduct within the crypto community. This focus on compliance fosters trust and confidence among users and regulators alike.

Market Performance and Outlook

SpongeV2 has experienced notable market performance, with its $SPONGE token reportedly surging 40% within 24 hours of its launch on the Polygon network. 

Rumours surrounding potential involvement from industry figure Justin Sun, founder of TRON, have stirred excitement within the Sponge community. Sun’s past engagement with meme coins and recent Ethereum transactions have sparked speculation about his potential interest in Sponge V2, heightening anticipation for potential market gains.

The reboot of Sponge comes with the release of a play-to-earn game racing game that users can practice on without having to pay tokens. If players are looking to earn Sponge tokens through the game, they will first have to buy gaming credits using their $SPONGE tokens. 

These can then be exchanged for game rounds where users can earn $SPONGE. Learn more in the Sponge V2 whitepaper and by following Sponge on X.

This play-to-earn angle has captured the attention of crypto influencers like Jacob Bury who have mentioned Sponge V2 in recent videos.

As Africa demonstrates a growing preference for globally regulated cryptocurrencies like Sponge, regulatory compliance and innovation emerge as key themes in the crypto market,

Sponge’s dedication to regulatory adherence, transparency and user engagement positions it as a noteworthy player in Africa’s evolving crypto market. With the potential for increased demand and continued growth, now is an opportune time to amass $SPONGE as it drives forward the adoption of globally regulated cryptos in Africa and beyond.

Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.