unbanked population – DIGIT INFO

South African Startup Neonomad to Launch Rand-Backed Stablecoin

DIGIT — Wed, 24 Jul 2024 11:20:14 +0000

Neonomad, the South African hybrid exchange platform, is set to launch Zarcoin, a stablecoin tied to the South African Rand. This innovative stablecoin epitomizes the seamless integration of regulatory safety with decentralized efficiency. Neonomad’s platform will also facilitate multiple offerings, including in the decentralized finance space. Banking South Africa’s Unbanked South African fintech startup Neonomad, […]

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Peru adopts India’s UPI system to boost financial inclusion

DIGIT — Fri, 07 Jun 2024 16:57:02 +0000

The Indian instant payment system is gradually making its way around the world. Soc India and Peru collaborate on payments

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US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

DIGIT — Thu, 02 Mar 2023 15:30:29 +0000

On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and […]

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Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion

DIGIT — Sat, 04 Feb 2023 11:30:36 +0000

Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s “only private billion-dollar company.” ‘Egypt’s Greatest […]

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Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission

DIGIT — Sun, 20 Nov 2022 10:30:59 +0000

According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said Nigeria needs to dismantle “the various exchange rate windows at the CBN [Central Bank of […]

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Latest Global Findex Survey: Share of Adult Population with a Bank Account Now 76% — 1.4 Billion Adults Still Unbanked

DIGIT — Sat, 16 Jul 2022 06:30:40 +0000

Between 2011 and 2021, the share of the world’s adult population that had bank accounts rose from 51% to 76%, the findings of the latest World Bank Global Financial Index survey have shown. About 1.4 billion adults are, however, still unbanked, not having the money or the identification required for opening a bank account. Mobile […]

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Defi Losing Track of Its Core Vision as It Gradually Resembles the Very Idea It Aspired to Change

DIGIT — Mon, 01 Nov 2021 12:30:21 +0000

As defi continues to expand, it risks embracing the very ideology it initially sought to reject as the primary beneficiaries of this new financing paradigm are those who already own digital assets. Replacing Intermediaries Doesn’t Directly Improve Finance When it comes to financial products and solutions, almost everything comes with a catch, be it exceptional […]

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Nigerian President Muhammadu Buhari to Unveil Country’s CBDC

DIGIT — Mon, 25 Oct 2021 03:30:02 +0000

The Nigerian President, Muhammadu Buhari, is expected to formally launch the country’s central bank digital currency (CBDC) on October 25, 2021. High-Level Endorsement of the CBDC According to a statement released by the Central Bank of Nigeria (CBN), the formal event marking the e-naira’s launch will be held at the Buhari’s official residence. After the […]

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Nigeria CBDC Countdown: Central Bank Delays E-Naira Rollout

DIGIT — Sat, 02 Oct 2021 08:00:22 +0000

A spokesperson for the Central Bank of Nigeria (CBN), Osita Nwanisobi, has said the launch of the much-hyped e-naira central bank digital currency (CBDC) has now been postponed to a later date. Nwanisobi’s announcement came less than 24 hours before the CBN was scheduled to launch the digital currency. Launch Date Clashes With Nigeria’s Day […]

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