Binance, the largest cryptocurrency exchange by volumes traded, has announced the launch of “Send Cash,” a Latam-focused remittance service. The newly launched tool will allow users in nine countries in the region to send crypto to bank accounts of friends or family in Argentina and Colombia directly, bypassing third-party intermediaries. Binance Seeks to Ease Remittances…
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The Australian digital dollar was used in a trade for a U.S. dollar stablecoin using an Ethereum layer 2 blockchain. Australia has successfully made its first foreign exchange transaction using eAUD as part of a live pilot for the country’s potential central bank digital currency (CBDC). It comes amid a rising interest from countries around…
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A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. Kenya’s lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible token transfers and a 15% tax on monetized online content, according to a newly introduced bill. Introduced…
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Crypto accounts for less than 2% of all of the remittances made to El Salvador, new government figures show. And critics say this is proof that the nation’s Bitcoin (BTC) adoption plan has failed…. Read More: Crypto Accounts for Less Than 2% of El Salvador’s Remittances – Has BTC Adoption Plan ‘Failed?’ Read more »Sign…
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Nigeria’s peer-to-peer bitcoin traded volumes of over $1.1 billion between January 2021 and June 2022 mean the West African nation is now Paxful’s largest market. Kenya, which saw traded volumes of over $325 million during the same period, now ranks as the crypto exchange’s second-largest African market, and fifth overall.
Financial Exclusion Driving P2P…
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The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian association of bureau de change operators has said. The leader also slammed the recent adjustment of the central bank’s interest rate to 13%, which…
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A report from Jack Dorsey’s Block, Inc. (formerly Square) has concluded that bitcoin (BTC) will play an increasingly large role in the payment and remittance sectors – and that the more people’s peers own BTC, the more likely they are to invest…. Read More: 40% of Surveyed Lower-income Individuals Want to Use Bitcoin –…
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Major money transfer company MoneyGram aims to launch a new service that would enable users to transfer money overseas via stablecoins. The initiative comes in partnership with the Stellar (XLM) blockchain, a decentralized protocol specializing in cross-border transactions, and it would enable users to convert their stablecoins to hard currency in MoneyGram agent locations,…
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Earlier this month, the US online trading platform Robinhood provided about 2m customers from its waitlist with crypto wallets, and this week completed the full roll-out of this functionality to all clients, the company said on the occasion of the release of its results for the first quarter of 2022…. Read More: Robinhood Opens Crypto…
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A high-flying regional Communist Party official who was expelled from the party last month for allegedly supporting crypto miners has been arrested. Meanwhile, individuals are being caught sending money abroad using crypto. Per the Epoch Times and the Xinhua news agency, Xiao Yi, the former Vice Chairman of the Jiangxi Provincial Committee of the…
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