Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin that is based on the same blockchain network. Phased Adoption of the Solutions The…
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Crypto’s mainstream acceptance is almost already here, but many people still have unfounded fears we have to overcome. Ever since its inception and throughout its turbulent journey toward mainstream acceptance, crypto has elicited both enthusiasm and trepidation in equal measure. After the unfair battering it has received over the years, the time has come to…
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The Bitcoin remittance business is blowing up all over the world. South African financial website moneyweb brings us the report directly from the oldest continent. The conditions that led to El Salvador making Bitcoin legal tender are present all over Africa. The people are unbanked but everybody has mobile phones. Plus, the diaspora is huge…
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“The cryptocurrency bull market has been good to all of us in this industry and this holiday season is the perfect time to pay it forward,” said Unbanked co-CEO Ian Kane. This holiday season, fintech provider Unbanked will be enabling crypto donations for Toys for Tots, a program run by the United States Marine Corps…
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Arcane Research says that Lightning Network usage has been on a steep upwards trajectory since late last year, but in September growth went parabolic off the back of El Salvador’s Bitcoin adoption. The research unit of Arcane Crypto predicts the Lightning Network will go parabolic as adoption of the Bitcoin layer-two payment protocol ramps up…
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Egyptian banks are reportedly on course to launch a $69.6 million fund which is earmarked to support the country’s fintech companies. According to a report, this fund is expected primarily to target the digital banking and financial services sector. Fintech Apps Targeted Fintech apps that can extend banking and financial services to all segments of…
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The fintech firm hopes to expand financial products for the unbanked. Africa-focused but U.S. based unified financial data platform Pngme this week announced its successful seed funding round raised $3 million. The investment was led by Radical Ventures, Raptor Group, Lateral Capital, and EchoVC. It was actually closed in the third quarter of 2020 and…
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Tokenization has a long way to go before it will uplift populations in emerging-market states, but it will bring the needed stability. One of the biggest challenges emerging markets face is volatility. Fueled by political and economic instability, dependency on a limited number of industries, and constraints on market accessibility, these matters are exacerbated by…
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Crypto isn’t inherently good in just its development and proliferation; the community must address the reasons causing financial exclusion. On Sept. 27, Coinbase CEO Brian Armstrong sought to center his employees’ work around the company’s core mission: “to bring economic freedom to people all over the world.” Armstrong argues for a narrow interpretation of Coinbase’s…
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The ease and convenience of services backed with the emerging techs can dramatically improve the financial landscape in Africa. Africa is the home to 1.2 billion people and what has been described as the world’s largest trade area — the African Continental Free Trade Area. Africa is forging a new path to driving development, and…
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