OCC’s new Office of Financial Technology has a director and an opening date
The OCC is replacing its Office of Innovation with a new body that will help it stay on top of fintech developments and emerging risks. Go to Source Powered by WPeMatico
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Africa: The next hub for Bitcoin, crypto adoption and venture capital?
Cointelegraph’s Elisha Owusu Akyaw shares how cryptocurrency is changing the financial landscape in Africa — and the opportunities and challenges that come with it. Go to Source Powered by WPeMatico
Web2 giants coming into Web3 could benefit ecosystem — PBW founder
Paris Blockchain Week founder Michael Amar believes large Web2 companies entering the Web3 space bring resources capable of increasing mass adoption. Go to Source Powered by WPeMatico
Nigerian Fintech Flutterwave Obtains Two Licenses From Rwandan Central Bank
Flutterwave, the Nigerian fintech giant, recently said it had obtained two licenses from the National Bank of Rwanda, which allow it to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave’s representative in the country, the two licenses make it possible for her company “to provide safe, … Read more
Africa-Focused Fintech Chipper Cash Weighs Possible Sale of Business
One of Africa’s fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had insignificant exposure to both SVB and Signature Bank. Chipper Cash ‘Never Sought to Be Acquired’ The … Read more
Study Shows QR and Digital Payments Continue Gaining Ground in Argentina
A recent study made by Fiserv, a global payments company, shows that QR and digital wallets have grown significantly as payment options in Argentina. While credit card preference has stagnated, the use of cash for payments has decreased, with only 14% of the polled choosing to use it over other options in the country. Argentina … Read more
BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report
Christine Okike, a lawyer representing BlockFi at its bankruptcy hearing claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally. Go to Source Powered by WPeMatico
USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity
On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity during the early morning (ET) … Read more
China’s Wechat Adds Support for Digital Yuan Payments
Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China. Wechat Pay Follows Alipay in Integrating Payments With Digital Yuan The … Read more
Nigeria Fintech Flutterwave Denies Client Account Hacking Reports
The Nigerian fintech Flutterwave has rejected reports suggesting that hackers have stolen as much as $6.3 million from user accounts. The fintech firm said a routine check of its transaction monitoring system helped to uncover “an unusual trend of transactions on some users’ profiles.” Motion to Freeze The Nigerian fintech unicorn, Flutterwave, has said reports … Read more