According to the International Finance, Corporation, the financial inclusion rate in Africa stood at an all-time low of 23% in 2011. A KYC system heavily processes customer data simplifying most processes within traditional banking and providing a layer of security. Ecobank Group has partnered with AMA Academy to develop customized fintech training modules for businesses, […]
The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success. The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwean dollars’ worth of gold-backed digital tokens — worth around $39 million — despite a warning from the International Monetary Fund. On May 12, the central bank of Zimbabwe announced that it had […]
Ethereum’s staking rewards hit a record 8.6% post-Merge, with validators earning $46 million in the first week of May, citing the memecoin craze responsible. Validators earned $46 million in the first week of May due to an increase in the staking rewards rate, which is a metric for validators’ annualized yield. According to data, validators earned 24,997 […]
Nigeria’s securities regulator will take at least 10 months to determine whether to register a digital asset-related company. Nigeria, one of the world’s most curious nations about cryptocurrencies like Bitcoin BTC, is preparing new industry regulations for digital asset platforms. The Nigerian Securities and Exchange Commission (SEC) is considering allowing licensed digital exchanges to list tokens backed […]
The two main digital assets, Bitcoin and Ethereum, offer the best case study for the link between crypto and inflation. Inflation is a sustained upward trend in the cost of goods and services across an economy. Crypto inflation can be understood as introducing new coins to the circulating supply, typically by miners and validators. As […]
The Chinese government revealed that public servants in a selected city will receive their salaries in digital renminbi (RMB) or digital Yuan starting May 2023 In 2020, pilot programs testing the use of the currency in various settings, such as transportation, retail, and government services, were launched in four cities, including Shenzhen and Suzhou. Digital […]
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency. The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as legal tender in the country. The move is a government initiative to stabilize the local currency […]
The Solana Saga mobile will be available for sale starting May 8, 2023 The Solana mobile stack has two main components: the Seed Vault and the Solana dApp Store Crypto phones also offer enhanced security features such as two-factor and biometric authentication. Solana introduced Saga, the world’s first crypto smartphone, in October 2022. The Saga […]
The insights of Project Meridian would be used by the Bank of England in its real-time gross settlement system. The Bank of England and the Bank for International Settlements (BIS) Innovation Hub London Center have tested a distributed ledger technology-powered settlements system between the institutions. The insights of the project will be used by the […]
Bitcoin difficulty and hash rate stop at nothing in their quest to surge to new levels never seen before. Bitcoin may be struggling at $30,000, but under the hood, all-time highs of a different kind keep coming. The latest data shows that Bitcoin network fundamentals — difficulty and hash rate — will hit new records this […]
Hong Kong’s virtual bank ZA Bank plans to transfer tokens into local currency and provide account services for the burgeoning crypto sector. ZA Bank, launched in 2020, will offer token-to-fiat currency conversions over licensed exchanges. Thus, the bank will act as a settlement institution for customers. This is reported by Bloomberg. According to sources, the bank won’t […]
During the conversation, the ECB president mentioned that the digital euro will have a “limited amount of control.” Specifically, Lagarde discussed the possibility of having zero control for small amounts, such as below €300 or €400. The digital euro decision is expected to be made in October. Recently, a video prank call posted online last […]
