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Binance Pay sees growing interest in Africa, South Asia and Independent States
25.5.2023
Three major markets are adopting Binance Pay as a means to make cryptocurrency-based payments for everyday goods and services
Study: Africa Likely to Leapfrog Leading Fintech Regions if It Adopts New Technologies
25.5.2023
Africa will likely leapfrog the top fintech regions if startups on the continent adopt new technologies, the Global Fintech 2023 report by the Boston Consulting Group and QED Investors has said. The report points to the African continent’s young population as well as the projected population...
Central African Republic gets IMF optimism a year into Bitcoin adoption
24.5.2023
The International Monetary Fund projects 2.2% GDP growth and manageable debt but warns of liquidity risks
Rand Plunges After US Weapons Accusations Against South Africa, Schiff Criticizes Misleading Inflation Numbers, and More — Bitcoin.com News Week in Review
21.5.2023
Another exciting week in crypto and finance has come and gone, with news of U.S. government accusations against South Africa, regarding the alleged supply of the Russian state with ammunition. In other news, ten Southeast Asian nations are challenging U.S. dollar dominance, having agreed...
Africa and Asia-Focused Fintech Jia Raises $4.3 Million in Seed Funding Round
21.5.2023
Jia, a blockchain fintech startup, recently revealed it has raised $4.3 million in a seed funding round which was led by the early-stage consumer crypto fund TCG Crypto. Jia has said it will use the funds raised to bolster its Kenyan and Philippines operations. Later, Jia will also use the capital...
Study: 40% of Surveyed African Banks See Fintech and Telcos as ‘High Threats’
20.5.2023
About 40% of 153 African banks surveyed by the latest African Banker annual report said they regard “fintechs and telcos as high threats,” while 69% see artificial intelligence as the “most important technology shaping the industry in the near future.” According to...
BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies
18.5.2023
South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to trade in our own currencies.” He also believes that...
BRICS Nations Discuss Expansion Plan as Membership Interest Grows
17.5.2023
The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on...
South African Currency Plunges to New Low Versus the Dollar a Day After the US Accused Country of Secretly Supplying Ammunition to Russia
14.5.2023
The South African currency’s exchange rate versus the U.S. dollar plunged to a new all-time low of ZAR19.51:US$1 on May 12. The rand’s latest fall came a day after the U.S. ambassador to South Africa accused the country of secretly supplying weapons to Russia. Banking giant JP Morgan...
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...
IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability
11.5.2023
The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider...
BRICS Leaders Set to Discuss Common Currency to Challenge US Dollar Dominance in Upcoming Summit
11.5.2023
The BRICS nations are set to discuss the feasibility of a common currency at the upcoming leaders’ summit. “It’s a matter we must discuss and discuss properly,” a South African minister stressed, noting that a growing number of countries are saying: “Why can’t we trade in our own currencies?...
Kenya partners with Abu Dhabi's Venom Foundation to build blockchain, Web3 hub
10.5.2023
The blockchain and Web3 hub will serve as a center for knowledge exchange and collaboration between technology firms and government entities in Africa
Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS
10.5.2023
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping...
Africa Moves to Lightning, Stablecoins as Bitcoin Transaction Fees Soar
9.5.2023
Those already using stablecoins and lightning transactions are not affected, but for many in Africa, higher bitcoin fees are a problem
Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round
8.5.2023
The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes...
US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round
6.5.2023
Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating system.”...
Vantage earns the FSCA license to run services in South Africa
5.5.2023
Vantage recently announced that it had earned its operating license from the FSCA (Financial Sector Conduct Authority). With the license, the platform can now run its services in South Africa. The FSCA acts as a regulatory body for financial projects in South Africa. It is accountable...
Nigeria Passes ‘National Blockchain Policy,’ Industry Player Says Central Bank Unlikely to Lift Crypto Ban
5.5.2023
The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe...
Kenya considers tax on crypto, NFT transfers and online influencers
5.5.2023
A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online