Foreign exchange

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Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

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A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed exchange rate of $1:380 is robbing recipients 20-30% of their remittance value each time they … Read more

Zimbabwe’s Battle To Control Currency Inadvertently Boosts Bitcoin Profile

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Zimbabwe’s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. Some of such decisions include the abrupt suspension mobile money as well as the recent designation of Zimswitch as a national payment switch. Reserve Bank of Zimbabwe Suspends Mobile Money Service Owned by banks, Zimswitch is the current payments … Read more

PR: Debut of USDD – A Stable Coin That Pays You Interest

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USDD – The world’s first dollar-backed and interest-bearing stable coin, with interest payments every 24 hours, will be officially released on October 31st by 55 Global Markets. The USDD value is 100% supported by a US dollar reserve, funds are held in trust for the benefit of tokenholders by PrimeTrust as trustee, a third-party trust … Read more

Super Rich: Popular Thai Foreign Exchange Chain to Add Cryptocurrencies

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Superrich International Exchange, a popular foreign currency exchange chain in Thailand, has reportedly revealed a plan to begin offering travelers cryptocurrency exchange service in addition to 32 fiat currencies. The company has 49 locations in Thailand, one in Cambodia, one in Britain, and is also in talks with regulators to start operations in Laos. Also … Read more

Major Belarusian Bank Starts Offering Bitcoin CFD as Belarus Gets Less Crypto Friendly

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A well-known bank in Belarus will begin offering a bitcoin contract for difference (CFD) product through its platform, a joint project with a Swiss bank. Meanwhile, Belarus is growing less crypto friendly, reportedly amending its decree to impose strict KYC rules. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Bitcoin CFD Product Mtbankfx is an accredited … Read more

Caribbean Nations Introduce Crypto Payments in the Travel Industry

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The Caribbean Tourism Organization is going to introduce cryptocurrency payments for tourism services and products offered in the region. In partnership with a local company, CTO wants to implement crypto-based merchant applications in the travel industry and other related sectors. Another goal is to further integrate the region’s economies through more cryptocurrency transactions. Also read: … Read more

Venezuela Picks FX Platform to Auction Petro ‘Oil-Backed Cryptocurrency’

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Venezuela has chosen a platform on which to auction its “oil-backed cryptocurrency”, the petro. While the country’s National Assembly has repeatedly declared this new currency illegal, the Venezuelan government will proceed with the auction of the petro on the country’s official foreign exchange platform. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies … Read more

Japanese Investors Increasingly Switching From Traditional FX Trading to Bitcoin

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A growing number of Japanese retail investors are switching from leveraged FX trading to leveraged cryptocurrency trading, thus driving the crypto market, according to a recent Deutsche Bank’s research. Operators of Japan’s largest FX platforms are launching their own crypto exchanges, offering leverage of up to 25x. Also read: South Korea Clarifies Position After Reports of … Read more