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3232Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments
https://www.digit.info/gieseckedevrient-ghana-cbdc-nullifies-the-need-for-multiple-intermediaries-in-cross-border-payments/
Thu, 25 Jul 2024 04:46:08 +0000https://www.digit.info/gieseckedevrient-ghana-cbdc-nullifies-the-need-for-multiple-intermediaries-in-cross-border-payments/Read more]]>The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof of concept (POC) demonstrated the effectiveness of utilizing digital credentials for international trade and cross-border […]
]]>China and UAE Praise Potential Role of CBDCs in Cross-Border Trade
https://www.digit.info/china-and-uae-praise-potential-role-of-cbdcs-in-cross-border-trade/
Mon, 03 Jun 2024 05:10:28 +0000https://www.digit.info/2024/06/03/china-and-uae-praise-potential-role-of-cbdcs-in-cross-border-trade/Read more]]>China and the United Arab Emirates (UAE) have acknowledged the crucial role of central bank digital currency (CBDC) in facilitating cross-border trade and investment. In a joint statement, the two countries expressed their commitment to deepening bilateral and multilateral cooperation with respect to their CBDCs. China also expressed appreciation for the UAE’s recent direct cross-border […]
]]>Nigerian Startup, Zone, Raises $8.5M in Seed-Funding Round
https://www.digit.info/nigerian-startup-zone-raises-8-5m-in-seed-funding-round/
Wed, 20 Mar 2024 11:45:57 +0000https://www.digit.info/2024/03/20/nigerian-startup-zone-raises-8-5m-in-seed-funding-round/Read more]]>Zone, a Nigerian payment fintech startup that leverages the blockchain, recently raised $8.5 million in a seed funding round. An undisclosed portion of the funds will be allocated to cover costs associated with the trial of Zone’s cross-border payment capabilities in 2025. Zone to Expand Its Payment Infrastructure Zone, a blockchain-based Nigerian payments startup, has […]
]]>Crypto Has Evolved From Being Seen as an ‘Anti-Establishment Rebellion Asset’ Says FCA Executive Director
https://www.digit.info/crypto-has-evolved-from-being-seen-as-an-anti-establishment-rebellion-asset-says-fca-executive-director/
Wed, 26 Apr 2023 08:00:29 +0000https://www.digit.info/2023/04/26/crypto-has-evolved-from-being-seen-as-an-anti-establishment-rebellion-asset-says-fca-executive-director/Read more]]>From being seen as a small “anti-establishment rebellion asset” more than ten years ago, crypto has grown to “become more widespread,” says Sarah Pritchard, an executive director at the United Kingdom’s Financial Conduct Authority (FCA). Pritchard said while the FCA has routinely warned consumers of risks associated with crypto, the watchdog has “always been open […]
]]>TBD and Yellow Card to Enable Fiat On and Off-Ramp Payments in 16 African Countries via BTC
https://www.digit.info/tbd-and-yellow-card-to-enable-fiat-on-and-off-ramp-payments-in-16-african-countries-via-btc/
Tue, 18 Apr 2023 06:30:35 +0000https://www.digit.info/2023/04/18/tbd-and-yellow-card-to-enable-fiat-on-and-off-ramp-payments-in-16-african-countries-via-btc/Read more]]>TBD and the Africa-focused cryptocurrency exchange platform Yellow Card recently partnered to launch a fiat on and off-ramp that enables payments in some 16 African countries through Bitcoin rails. The objective of this arrangement is to make cross-border payments not only more affordable and accessible, but compliant as well. Hedging Against Inflation With BTC TBD, […]
]]>Strike Launches Bitcoin Lightning Network-Enabled Money Transfers to Africa
https://www.digit.info/strike-launches-bitcoin-lightning-network-enabled-money-transfers-to-africa/
Wed, 07 Dec 2022 22:30:21 +0000https://www.digit.info/2022/12/07/strike-launches-bitcoin-lightning-network-enabled-money-transfers-to-africa/Read more]]>United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send Globally.” The new feature instantly converts the funds to local currencies prior to moving them to recipients’ […]
]]>FTX Collapse: African Crypto Industry Leaders’ Perspective and Advice to Regulators
https://www.digit.info/ftx-collapse-african-crypto-industry-leaders-perspective-and-advice-to-regulators/
Wed, 16 Nov 2022 10:00:18 +0000https://www.digit.info/2022/11/16/ftx-collapse-african-crypto-industry-leaders-perspective-and-advice-to-regulators/Read more]]>The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed and over-restrictive regulations. The Game-Changing Role of Crypto in Africa As the crypto […]
]]>Cryptocurrencies a ‘Good Alternative to Traditional Settlement Processes’ — Study
https://www.digit.info/cryptocurrencies-a-good-alternative-to-traditional-settlement-processes-study/
Mon, 25 Jul 2022 10:30:53 +0000https://www.digit.info/2022/07/25/cryptocurrencies-a-good-alternative-to-traditional-settlement-processes-study/Read more]]>Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money transfer industry perceive the blockchain and cryptocurrencies as technologies that can enhance remittance processes. Cryptocurrencies […]
]]>Co-Founder of Africa Focused Fintech: Traditional Banks Not Optimized to Serve the Unbanked
https://www.digit.info/co-founder-of-africa-focused-fintech-traditional-banks-not-optimized-to-serve-the-unbanked/
Thu, 02 Jun 2022 04:30:56 +0000https://www.digit.info/2022/06/02/co-founder-of-africa-focused-fintech-traditional-banks-not-optimized-to-serve-the-unbanked/Read more]]>For years, traditional financial institutions in different parts of the world have been attempting to narrow the financial exclusion gap by extending their services to the unbanked population. Yet for many reasons, these institutions still cannot avail their products and services to everyone that needs them. Regulatory Hurdles While there are several reasons cited for […]
]]>Study: 54% of UAE and Saudi Arabia Survey Respondents Said Crypto Should Be Used for Payments
https://www.digit.info/study-54-of-uae-and-saudi-arabia-survey-respondents-said-crypto-should-be-used-for-payments/
Tue, 12 Apr 2022 13:00:25 +0000https://www.digit.info/2022/04/12/study-54-of-uae-and-saudi-arabia-survey-respondents-said-crypto-should-be-used-for-payments/Read more]]>An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respective countries’ respondents believe certain obstacles are stopping cryptocurrencies from going mainstream. Crypto as Currency According to the findings of a study by Checkout.com, […]
The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof of concept (POC) demonstrated the effectiveness of utilizing digital credentials for international trade and cross-border […]
]]>
China and the United Arab Emirates (UAE) have acknowledged the crucial role of central bank digital currency (CBDC) in facilitating cross-border trade and investment. In a joint statement, the two countries expressed their commitment to deepening bilateral and multilateral cooperation with respect to their CBDCs. China also expressed appreciation for the UAE’s recent direct cross-border […]
]]>
Zone, a Nigerian payment fintech startup that leverages the blockchain, recently raised $8.5 million in a seed funding round. An undisclosed portion of the funds will be allocated to cover costs associated with the trial of Zone’s cross-border payment capabilities in 2025. Zone to Expand Its Payment Infrastructure Zone, a blockchain-based Nigerian payments startup, has […]
]]>
From being seen as a small “anti-establishment rebellion asset” more than ten years ago, crypto has grown to “become more widespread,” says Sarah Pritchard, an executive director at the United Kingdom’s Financial Conduct Authority (FCA). Pritchard said while the FCA has routinely warned consumers of risks associated with crypto, the watchdog has “always been open […]
TBD and the Africa-focused cryptocurrency exchange platform Yellow Card recently partnered to launch a fiat on and off-ramp that enables payments in some 16 African countries through Bitcoin rails. The objective of this arrangement is to make cross-border payments not only more affordable and accessible, but compliant as well. Hedging Against Inflation With BTC TBD, […]
United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send Globally.” The new feature instantly converts the funds to local currencies prior to moving them to recipients’ […]
The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed and over-restrictive regulations. The Game-Changing Role of Crypto in Africa As the crypto […]
Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money transfer industry perceive the blockchain and cryptocurrencies as technologies that can enhance remittance processes. Cryptocurrencies […]
For years, traditional financial institutions in different parts of the world have been attempting to narrow the financial exclusion gap by extending their services to the unbanked population. Yet for many reasons, these institutions still cannot avail their products and services to everyone that needs them. Regulatory Hurdles While there are several reasons cited for […]
An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respective countries’ respondents believe certain obstacles are stopping cryptocurrencies from going mainstream. Crypto as Currency According to the findings of a study by Checkout.com, […]