Search
Report: UAE Central Bank Implements Digital Currency Strategy
29.3.2023
The central bank in the United Arab Emirates said it has started implementing its digital currency strategy with partners G42 Cloud and R3. According to the central bank, the digital currency initiative is expected to “further position and solidify the UAE as a leading global financial...
US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations
2.3.2023
On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options...
Zambia Testing Technology to Regulate Cryptocurrency — Government Minister
19.2.2023
The Bank of Zambia and the country’s securities regulators are currently testing the technology to regulate cryptocurrencies, a Zambian government minister has said. According to Felix Mutati, cryptocurrency is a revolutionary technology that embodies a future his country desires to achieve....
The role of cryptocurrency in advancing financial inclusion
10.2.2023
Access to and use of financial services, known as financial inclusion, is crucial for economic growth and development
Ghanaian and Nigerian Central Bank Open Respective Regulatory Sandbox Application Processes
29.1.2023
The Ghanaian and Nigerian central banks have invited financial innovators that wish to be included in their respective regulatory sandboxes to submit applications. The Bank of Ghana said its sandbox will also support innovations that attempt to solve the financial exclusion challenge. Solving...
Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches
24.1.2023
With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new banknotes. Despite growing pressure for it to extend the period for returning the old notes, the central bank insists...
Here’s how Bitcoin promotes global financial inclusion, according to Prince Philip of Serbia
4.1.2023
Prince Philip of Serbia outlines key ways in which Bitcoin promotes global financial inclusion and its importance in conflict-affected nations
Argentine Province of San Luis to Issue Dollar-Pegged Stablecoin and Local Art NFTs
16.12.2022
San Luis, a province of Argentina, has approved a bill allowing it to issue a blockchain-based, dollar-pegged stablecoin. The bill, which also approves the issuance of local artistic assets as NFTs (non-fungible tokens) seeks to enable the promotion of social development, and economic, cultural...
RegTech Africa Conference set to elevate national policy on financial inclusion, consumer protection, and cybersecurity
28.11.2022
Digital financial services hold great promise as a means to enable financial inclusion and thus help improve people’s lives. However, cybercrime has become a key concern in developing and emerging markets and threatens to hinder global advances in building a more inclusive digital society. Whilst...
New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor
27.11.2022
The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial inclusion cause. Forcing Currency Hoarders to Return to the Banking System According to...
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
20.11.2022
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said...
Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa
18.11.2022
Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has...
Queen Maxima of Netherlands Sees Multiple Benefits of Digital Euro
10.11.2022
Queen Maxima of the Netherlands has outlined multiple benefits central bank digital currencies (CBDCs) could bring, particularly in the area of financial inclusion. “Governments could use a digital euro to channel financial support to low-income households. This would deepen longer-term...
Egyptian Fintech Raises $31 Million in Series B Funding Round
10.11.2022
Moneyfellows, an Egyptian fintech startup specializing in digitizing money circles, recently announced the close of its Series B funding round that raised $31 million. The funds will be used to finance Moneyfellows’ expansion into other markets as well as accelerate the fintech’s...
Abu Dhabi Fintech Startup Raises $20 Million in Series B Funding Round
9.11.2022
Abu Dhabi-based fintech, Pyypl, announced on Nov. 7 that it had raised $20 million in Series B funding and this brought the total of funds raised to nearly $40 million. Pyypl has said it plans to use the recently raised funds to develop and add new features to its proprietary technology....
South Africa Retailer Pick n Pay Now Accepts Payment in Bitcoin at 39 Outlets
3.11.2022
Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments. To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for “high volume, low-value transactions.”...
Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process
2.11.2022
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will...
Mastercard Study: African Fintech Sector Had One of the Highest Year-on-Year Growth Rates in Funding in 2021
1.11.2022
In 2021, African fintech startups accounted for 61% of the $2.7 billion in venture capital funding that was deployed on the continent, a new study has found. While its share of global fintech funding is just over one percent, the continent’s fintech sector still recorded one of the highest...
Bitcoin Price and Ethereum Prediction– IMF Promotes CBDC for Financial Inclusion
17.10.2022
On October 17, Bitcoin price is trading slightly higher, above the immediate support level of $19,000. Ethereum, on the other hand, has gained more than 1% to $1,300 so far.
Major cryptocurrencies were trading in the green early during the Asian session, as the global crypto market cap grew...
Nigeria Can Become World Leader in the Digital Economy Says Vice President Yemi Osinbajo
14.10.2022
According to Nigerian Vice President Yemi Osinbajo, his country is well-positioned to become a global leader in the digital economy. However, for that to happen, Nigeria must choose the right approach and spend more time developing digital skills. Nigeria Better Equipped Than 3 Decades Ago...