Official Remittance Inflows to Zimbabwe Surged to $1 Billion After Covid-19 Restrictions Forced Migrants to Use Formal Channels

Official Remittance Inflows to Zimbabwe Surged to $1 Billion After Covid-19 Restrictions Forced Migrants to Use Formal ChannelsCross border remittances into Zimbabwe surged to $1 billion in 2020, more than a 36% increase from the $636m that was recorded in 2019. This surge in remittances occurred despite the “steep decline in economic activity in host countries, which in turn made it difficult for migrants in the diaspora to send money home.” Effects […]

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African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

African Migrants Are Turning to Cryptocurrency Platforms for 'Low-Fee Remittances'As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming a “hot investment for hedge funders and corporate moguls,” crypto-assets like bitcoin are […]

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Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital Remittances

Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital RemittancesAccording 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 a further decline of 7.5% to $470 billion […]

The post Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital Remittances appeared first on Bitcoin News.

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Revolut Raises $250 Million, Adds Bitcoin Cash (BCH) and XRP

Revolut Raises $250 Million, Adds Bitcoin Cash (BCH) and XRPThe European alternative banking app designed for the globally mobile generation, Revolut, has just secured a major infusion of capital. With the new funding at hand the startup will be expanding to new markets around the world and add new features such as support for BCH and XRP to its crypto service. Also Read: Binance […]

The post Revolut Raises $250 Million, Adds Bitcoin Cash (BCH) and XRP appeared first on Bitcoin News.

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