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Xi Jinping and Putin Discuss BRICS Cooperation With Brazil’s President
27.5.2023
Chinese President Xi Jinping and Russian President Vladimir Putin engaged in phone conversations with Brazilian President Luiz Inácio Lula da Silva regarding their joint work within the BRICS group ahead of the economic bloc’s leaders’ summit. Lula has been a vocal advocate of ditching...
Brazil Sees BRICS Bank as Alternative Financial Institution, President Lula Says
27.5.2023
The government of Brazil views the development bank established by the BRICS bloc as an alternative to traditional financial institutions, the country’s head of state told African diplomats. President Lula da Silva also vowed that the bank will improve cooperation with its African counterpart....
Visa, Microsoft and others join Brazilian CBDC pilot
26.5.2023
Both national and global companies will take part in the upcoming pilot project of the Brazilian central bank digital currency
Brazilian Central Bank Reveals CBDC Pilot Partners – One Is a Major Crypto Player
26.5.2023
The Brazilian Central Bank has revealed the firms it will work on for its central bank digital currency (CBDC) pilot – and the list includes the crypto-keen neobank Nubank.
According to an official Central Bank release, the bank wants to "evaluate the benefits" of the prototype digital real using...
Brazil's Central Bank Selects 14 Participants for CBDC Pilot
25.5.2023
Among those selected are the largest local banks, Visa and Microsoft
Report: Emerging Market Investors Dumping Dollar-Denominated Debt and Seeking Local Currency Bonds Instead
24.5.2023
Emerging markets investors are being attracted by local currency-denominated bond instruments while leaving dollar-denominated debt, according to data provided by EPFR Global, a fund flow and allocation data insights company. These markets have outperformed dollar-denominated debt due to...
Latam Insights — Venezuela’s Maduro States De-Dollarization Is ‘Inevitable,’ Argentina Raises Interest Rates to Close to 100%
23.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Venezuela makes a push for de-dollarization, the Central Bank of Argentina raises interest rates to close to 100%, and Brazil breaks the U.S....
SWIFT Data Shows Despite De-Dollarization Push, US Dollar Is Still the King of International Settlements
22.5.2023
The share of the U.S. dollar usage for international payments has risen to 42.71% in April, despite the push of some countries towards de-dollarization. The dollar remains the most used currency in international settlements, with the euro taking second place according to data from the Society...
De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov
21.5.2023
The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is undermining the role of the U.S. currency. Russia’s...
Binance provider in Brazil gets payment institution approval
20.5.2023
Binance's partner Latam Gateway has been granted a license to operate as a payment institution and electronic money issuer in Brazil
Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues
16.5.2023
Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting...
Visa Card holders at Crypto.com can now use Google Pay in Brazil
12.5.2023
Google Pay assists users in seeking a convenient way to execute a financial transaction. While its advanced mechanism is based on the country of operation, the basic functionality is more or less the same. Meaning, no matter the region, customers using Google Pay can make payments using the mobile...
South African Minister Tells BRICS Nations Not to Rush Decision on Common Currency
11.5.2023
The South African minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said her country will “not shy away...
Brazilian Probe Unearths ‘Money Laundering’ at ‘Obscure’ Crypto Exchange – Militias Turning to Crypto?
11.5.2023
A notorious Brazilian militia group reportedly moved thousands of USD worth of money and coins through an “obscure” domestic crypto exchange.
Per reports from O Globo and Portal do Bitcoin, the Public Ministry of Rio de Janeiro (MPRJ) believes that the Tandera Militia “laundered money” through...
Brazilian Chess Competition to Hand Winners NFTs
10.5.2023
The organizers of a new Brazilian chess tournament say they will reward winners with non-fungible tokens (NFTs).
Per the Brazilian media outlet Livecoins, the event will be “nationwide” and has been organized by a fintech firm named Inkluziva.
The event will open to students “in the national...
Brazil Central Bank CBDC Pilot Snubs Crypto Firms
9.5.2023
The Central Bank of Brazil has effectively blocked crypto firms from taking part in its central bank digital currency (CBDC) pilot.
The bank this month issued a call for interested firms to join the next phase of its pilot.
But while the bank did not explicitly rule out the participation...
Warren Buffett Sees ‘No Option’ Other Than US Dollar as Reserve Currency, but Warns Fed Can’t ‘Just Print Money Indefinitely’
8.5.2023
Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength...
Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue
5.5.2023
Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign...
Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals
5.5.2023
Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating...
Coinbase remains '100% committed' to US market: Armstrong
5.5.2023
The Coinbase CEO has a lot of faith in Congress in making a “clear rule book” for crypto firms to follow. But the SEC? Not so much