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Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate
26.11.2020
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed...
Argentina’s Peso Plunges After Central Bank Tightens Foreign Exchange Controls: Citizens Discuss Bitcoin Adoption
18.9.2020
The Argentine peso plunged by more than 10% shortly after the country’s central bank announced measures to tighten controls on the movement of foreign currency. The peso, which is officially pegged at 72 for every USD, touched new lows of 145 to the greenback on the black market. The latest...
Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further Devaluation
2.9.2020
Pressure on Nigeria’s current exchange rate is likely to get worse in 2021, when the expected recovery of imports is set to force another devaluation of the local currency to N430/$ next year, according to two Bank of America analysts. Earlier rate adjustments, one in March and another...
Zimbabwe’s Battle To Control Currency Inadvertently Boosts Bitcoin Profile
12.7.2020
Zimbabwe’s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. Some of such decisions include the abrupt suspension mobile money as well as the recent designation of Zimswitch as a national payment switch. Reserve Bank of Zimbabwe...
Vanguard’s Blockchain Platform for Foreign Exchange Will Go Live in Q3 2020
26.6.2020
Mutual fund giant Vanguard has completed another blockchain pilot that aims to change the risk profile of foreign exchange (FX) transactions
Forex vs. Cryptocurrency Trading, Explained
17.6.2020
On the surface, Forex and cryptocurrency trading look similar, but the history and functioning of these markets are notably different — we’ll explain how
TradAir: Your One-stop Solution for Foreign Exchange and Crypto Trading Services
29.2.2020
There are a number of companies that provide access to foreign exchange (FX) services, but only a few names are there when it comes to providing the FX facility with the facility of crypto trading underpinned by the ecosystem of blockchain. More importantly, it is quite a hard task to find...
Italy’s Securities Regulator Shuts Down 8 Crypto Trading and Foreign Exchange Sites
11.2.2020
8 websites relating to FX and cryptocurrency are being shut down in Italy by Consob, the country’s securities regulator
China Takes Another Step Away From USD Hegemony
1.1.2020
The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro...
CME Group Publishes Bitcoin Options Specifications
2.11.2019
In mid-September, the foreign exchange company CME Group announced the launch of options on its bitcoin futures contracts in Q1 2020, pending regulatory review. CME Group executive Tim McCourt said there was “increasing client demand” for the firm’s bitcoin derivatives and now...
Foreign Exchange Giant CLS Admits: No, We Don’t Need a Blockchain for That
8.10.2019
Forex giant CLS is now using a blockchain to handle certain currency trades, but the technology is “not essential” for the task, an executive admits
European Union Fines 5 Top Banks 1 Billion Euros for Foreign Exchange Market Rigging
17.5.2019
Over the course of their history, some of the biggest banks in the world have often colluded to rig the different markets in which they operate, and much of that has come out in the open over the past decade or so. The fixing of LIBOR was a case in point, and in a new …
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