Ghana gearing for central bank digital currency pilot
Ghana is striving to become the first African nation to float a central bank digital currency. Go to Source Powered by WPeMatico
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Ghana Regulator Labels Crypto Transactions Illegal— Urges People to ‘Stay Away From Them’
Ghana’s Securities and Exchange Commission (SEC) recently warned residents of the West African country to avoid cryptocurrency transactions of any form. In the warning, the regulator reiterated that “cryptocurrencies are illegal in the country and are not regulated by the commission hence Ghanaians should stay away from them.” Risks Associated With Crypto In remarks made … Read more
How African Users Can Buy and Trade Bitcoin Cash Without Facing KYC or Geoblocking Hurdles
Africa remains the home to a large proportion of the world’s population that is unbanked according to a 2017 World Bank Global Index survey. Many of those who are unbanked cite their lack of official identification particulars as one of the main reasons for their predicament. Cryptos Narrowing Financial Exclusion Gap Therefore, in their effort … Read more
Ghanaian Startup Bitsika Africa Processed $40 Million in Crypto Remittances in 2020, up 3,900% Year-on-Year
Bitsika Africa, a crypto startup operating out of Ghana and Nigeria, said Monday that it processed almost $40 million in remittances in 2020, up from just under $1 million the previous year. Founder and chief executive officer Atsu Davoh said that deposits accounted for $18.87 million of the total volume, with payouts making up $17.89 … Read more
Following Binance Uganda closure, Binance P2P makes strong inroads in Africa
The cryptocurrency exchange has given up on Binance Uganda, but the regional play remains strong Go to Source Powered by WPeMatico
Fiat Devaluation Drives Retail Bitcoin Transfers in Africa 56% in a Year: Report
Monthly cryptocurrency transfers to and from Africa under $10,000 soared more than 56% from a year ago to reach $316 million in June, according to new research by U.S. crypto analytics firm Chainalysis. Altogether, $8 billion worth of crypto was received into the continent and $8.1 billion sent onchain in the last year. The total … Read more
Emerging Markets Drive Paxful First Half 2020 Bitcoin Volume to $1.1 Billion
Peer-to-peer (P2P) crypto exchange Paxful reported Tuesday that its bitcoin trading volumes climbed 35% to $1.1 billion during the first six months of 2020 compared to $817 million a year ago. More than $182 million worth of bitcoin (BTC), on average, was traded on the platform every month between January and June this year, it … Read more
Ghana’s Central Bank Confirms It’s Still Looking to Pilot a Digital Currency
The Bank of Ghana’s first deputy governor says the institution remains committed to piloting a central bank digital currency. Go to Source Powered by WPeMatico
South Africa Leads Crypto Revolution in Africa – Challenges Spur and Slow Adoption
Africans rank atop global cryptocurrency ownership rates, according to a new report by Arcade Research. South Africa ranks third globally with 13% of its internet users owning or using cryptocurrencies, while 11% of connected Nigerians own cryptocurrencies in the fifth-placed populous West African country. Uganda, Nigeria, South Africa, Kenya, and Ghana are listed in the … Read more
African Gold’s Position Amid the Global COVID-19 Crisis
With blockchain tech implementation, Africa’s economic growth could rely on the continent’s gold industry, as revealed by the COVID-19 pandemic Go to Source Powered by WPeMatico