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Rwanda is contemplating launching a Central Bank Digital Currency (CBDC) because it does not want to be left behind and to prevent any hindrances to trade between the African country and its major trading partners. According to a deputy governor with the National Bank of Rwanda, the country should be prepared for digital currencies being … Read more
A new report reveals that 562 million people globally now own digital currencies, an increase from 420 million in 2023, making up 6.8% of the world’s population. Asia is at the forefront of this growth, with North America close behind. Overall, cryptocurrency adoption is rising worldwide, with notable increases seen across all continents. ‘562 Million … Read more
Nigerian artist Davido has been accused of perpetrating an “outright scam” after pocketing over $468,000 from selling his recently launched meme coin. A prominent Nigerian crypto enthusiast claims Davido’s actions create problems for many legitimate crypto businesses and startups operating in good faith. Davido Offloads Meme Coin Hours After Promoting It to Followers The Nigerian … Read more
Ripple’s recently published 2023 Trends in Regional Payments ebook highlights the transformative role of cryptocurrencies and Central Bank Digital Currencies (CBDCs) in the global payments landscape. Latin America is witnessing a digital transformation with a shift towards crypto-powered solutions and CBDCs, despite resistance from sector incumbents. In Africa, crypto-enabled payments are enhancing accessibility and affordability, … Read more
Small-scale farmers lack the essential tools to address significant challenges in avocado production. Here’s how blockchain and AI can help them. Go to Source
The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency and warned that the country’s unclear position could be costing the country. The committee also urged the government of Bola Tinubu to develop the capital and crypto markets to defend the local currency. Nigeria’s Ambiguous Stance on Crypto The Nigerian Senate … Read more
The South African Reserve Bank has reportedly decided not to unveil the findings of the initial phase of its central bank digital currency feasibility study. Instead, the central bank said it is currently focused on the second phase of the study and will release a report once it is satisfied with the progress made in … Read more
The Central Bank of Nigeria has increased the capital requirements for national bureau de change operators from approximately $24,000 to $1.4 million. The central bank has given operators a six-month period to comply and they must apply for new licenses. The bank’s director for risk management stated that street trading of foreign exchange is now … Read more
Marathon Digital, one of the world’s leading Bitcoin mining operations, announced a collaboration to overhaul Kenya’s renewable energy sector. Go to Source
The International Monetary Fund (IMF) has stated that Zimbabwe’s recently introduced gold-backed fiat currency represents a significant policy step. This is the IMF’s first substantial comment on the currency since its inception. The global lender has reportedly announced plans to send a team in June to evaluate the performance of the new currency. Contrasting IMF … Read more
