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Official Remittances to Nigeria Plummet by Almost 40% in a Year When Crypto Use Surged
14.5.2021
According to the latest data from the World Bank, international money transfers into Nigeria dropped by nearly 40% from $23.8 billion recorded in 2019 to $17.2 billion in the past year. Yet despite this fall, remittances, which account for 4% of the country’s GDP, still remain an important...
How African Users Can Buy and Trade Bitcoin Cash Without Facing KYC or Geoblocking Hurdles
13.4.2021
Africa remains the home to a large proportion of the world’s population that is unbanked according to a 2017 World Bank Global Index survey. Many of those who are unbanked cite their lack of official identification particulars as one of the main reasons for their predicament. Cryptos...
Nigeria’s Yellow Card Processes $165 Million in Crypto Remittances So Far This Year
7.12.2020
Nigerian crypto startup Yellow Card says it processed over $165 million in volume during the first eleven months of this year. The figure represents a growth of more than 1,840% over the amount of remittances processed in the last six months of 2019. Launched in June 2019, Yellow Card enables...
Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital Remittances
10.11.2020
According to a new report, the depreciation of some currencies against the U.S. dollar is contributing to the declining international remittances. After touching an all-time high of $548 billion in 2019, the World Bank report now projects remittances to drop 7.2% in 2020 to $508 billion and...
Remittance Costs Lower in Q3 World Bank Study Shows – Only Cryptocurrencies Meeting UN Goal
30.10.2020
The latest study by the World Bank shows that it costs 4.98% on average to remit funds to South Asia which makes it the least expensive region while sub-Sahara Africa is the most expensive with an average cost of 8.47%. The quarterly study also finds that it is costlier to remit funds when using...
‘No single digital currency will dominate the world’ Bank of Japan now says
15.10.2020
Japan's policymakers appear disconcerted by the advancement in China's CBDC iniative
IMF, World Bank, G7 Countries to Create Central Bank Digital Currency Rules
13.10.2020
The United States, Canada, Britain, Germany, France, Italy and Japan will institute national digital currency banking standards with the International Monetary Fund and World Bank
The UN’s ‘decade of delivery’ needs blockchain to succeed
26.9.2020
Emerging technologies are essential to fasten SDGs, but this shouldn’t come at the expense of prudence and careful evaluation
Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding
17.9.2020
The Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy....
World Bank Investigates Smart Contracts as Financial Tools, With Mixed Results
13.7.2020
The World Bank has looked at the benefits of smart contracts and found the blockchain instruments to be a "limited" financial tool
$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks
9.7.2020
Crisis laden Argentina saw bitcoin transactions worth $1.4 million (101 million pesos) being recorded in the past week, a new high for the country. According to a report by Vorem, this figure is nearly double the previous high of $0.96 million recorded in the last week of June. Citizens who have...
Can Central Bank Digital Currencies Protect Individual Privacy?
11.5.2020
Top crypto industry and policy experts debated the privacy ramifications of state-issued virtual currencies during the first day of Consensus
Crypto Firms Brace as World Bank Predicts 20% Crash in Global Remittances
24.4.2020
The World Bank is predicting that the half-trillion-dollar remittance industry will fall by 20% this year
World Bank Digs Deeper Into DLT and FinTech for Financial Inclusion
14.4.2020
The World Bank Group outlines new tech like DLT and stablecoins as crucial for financial inclusion
India Is Fostering a Solarized Digital Future
4.3.2020
India is moving toward renewable energy production backed with the digital technologies
Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns
10.1.2020
The latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not...
Indian Finance Minister Answers Crypto Questions at IMF Meeting
21.10.2019
At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court...
MakerDAO Is Helping 60 Kids in Brazil Learn the Basics of Blockchain
9.9.2019
The World Bank is teaming up with MakerDAO to bring blockchain education to Brazilian favelas
The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
21.8.2019
Last year the World Bank and the Commonwealth Bank of Australia announced a permissioned Ethereum-based blockchain to facilitate the end-to-end issuance of bonds between financial partners. The Bretton Woods-created financial institution hopes to make debt capital markets far more efficient with...
The World Bank Sells Additional 33.8 Million USD of Its Private ETH Blockchain Bonds
20.8.2019
According to the latest buzz, the World Bank has successfully issued the 2nd bout of its iconic blockchain bonds. Additional 50 million Australian dollars (worth about 33.8 million United States Dollars) have been raised by the Bank. It was accomplished through sales of the bond-i (debt instrument...