Nigeria Upgrades eNaira As Crypto Restrictions Affect Fintech Industries
Nigeria’s central bank has upgraded the eNaira to steer the country away from crypto. The Central Bank of Nigeria (CBN) is moving forward with plans to upgrade the country’s central bank digital currency (CBDC), eNaira so that it can be used to purchase a broader range of goods and services. It also maintains strict crypto […]
ECB’s Presentation Shows Lack Of Privacy Options In Proposed Digital Euro Designs
Transactions through the EU’s proposed digital Euro could be transparent to intermediaries, just like any other non-crypto digital transaction. The public’s main concern, aside from concerns about government overreach raised by the European Union’s ambitious digital euro project, is the privacy framework of the prospective currency. This concern appears to be overblown after all: as […]
Bank Of Russia To Conduct Digital Ruble Settlements In 2023
The governor of Russia’s central bank announced this week that the country’s first digital ruble settlements will take place next year. This new currency will be critical to Russia’s ability to withstand sanctions, an official told Russian lawmakers. According to the Ministry of Finance’s approved Financial Market Development Strategy, the full launch of the digital […]
Report Reveals That Inadequate Financial Services Aids Cryptocurrency Ownership In Nigeria
One of the primary reasons investors around the world seek to diversify traditional assets into cryptocurrency is to combat the prevailing fiat inflation. According to a new study, there has been a staggering increase in crypto adoption across Nigeria, which has been fueled by Africa’s limited access to affordable fiat-based financial services. According to KuCoin’s […]
South African Reserve Bank completes technical PoC for implementing its CBDC
The South African Reserve Bank (SARB) has completed a technical proof-of-concept (PoC) initiative, further work would be taken to study the findings from the project and then used to establish its central bank digital currency (CBDC). Project Khokha 2 (PK2) is the follow-up to SARB’s Project Khokha (PK1), which was launched in 2018. It used […]