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The National Australia Bank recently abandoned its stablecoin initiative, and the development team behind the project is now involved with the Ubiquity stablecoin. The Australian bank’s decision to shelve the stablecoin project shows that startups are better positioned to innovate or adapt than established banks. NAB Team Joins Ubiquity The National Australia Bank (NAB) recently … Read more
The Federal Reserve and Arkansas State Bank Department have mandated sweeping reforms at Evolve Bank & Trust following significant compliance breaches. The order highlights issues in anti-money laundering efforts and consumer protection, especially in its dealings with fintech companies and prominent crypto players like FTX. Compliance Concerns Trigger Regulatory Action Against Evolve Bank Evolve Bank … Read more
The Central Bank of Kenya is amending the country’s payment systems law, which will allow it to issue operating licenses to fintech startups. Governor Kamau Thugge said he expects the bank to complete the process of amending the law soon. Central Bank Aims to Support Fintech Startups The Central Bank of Kenya (CBK) will soon … Read more
The Egyptian fintech startup Sahl has raised $6 million through a Series A funding round. The startup is set to use the capital raised to strengthen its local operations and fund its expansion into the Kingdom of Saudi Arabia. Sahl’s Strategic Partnerships The Egyptian fintech startup Sahl has raised $6 million through a Series A … Read more
In 2023, Binance generated revenues exceeding $20 billion in Nigeria; however, the company has not paid taxes, a government minister disclosed. The Nigerian official also seemed to refute U.S. lawmakers’ claims that Tigran Gambaryan, an imprisoned Binance executive, is being held hostage by his government. Tigran Gambaryan Detained on Allegations of Contributing to Naira Depreciation … Read more
Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this will be addressed soon. Russian State Duma Official Bets on National … Read more
Project Mbridge, the cross-border central bank digital currency (CBDC) project that seeks to integrate several currencies into a global network, has reached its minimum viable product stage. This means that each one of the participant central banks has deployed a validating node in the network, that is ready to perform real-value transactions CBDC Project Mbridge … Read more
A Nigerian payments company recently announced the launch of a blockchain-powered point-of-sale payment gateway. This gateway facilitates transaction routing to issuers and aims to prevent chargebacks or chargeback fraud by promptly reimbursing customers for unsuccessful transactions. Eliminating Chargeback Fraud The Nigerian payment infrastructure company, Zone, recently announced the launch of a blockchain-powered point-of-sale (PoS) payment … Read more
The small country on the Arabian Peninsula sees CBDC as part of its national development strategy. Go to Source
Former Consensys employee Jack Jia, co-founder of Stable.com, launches new stablecoin USD3 amid regulatory uncertainty and shifting stablecoin narratives. Go to Source
