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Study: 54% of UAE and Saudi Arabia Survey Respondents Said Crypto Should Be Used for Payments
12.4.2022
An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respective countries’ respondents believe certain obstacles are stopping cryptocurrencies from...
Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months
12.4.2022
According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report attributes the growing adoption of cryptocurrencies to rising inflation and the plunging value...
Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex
12.4.2022
The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank’s warning comes just over a month after Ghana’s currency was rated the worst performing among Africa’s...
Namibian Central Bank Announces Plan to Launch CBDC
9.4.2022
Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability. BON Researching CBDCs The BON governor, Johannes Gawaxab...
Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC
2.4.2022
According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded. Central Bank Mulls...
IMF: We Need a Lot More Work Done on Crypto Regulation
31.3.2022
The International Monetary Fund (IMF) says a lot more work needs to be done on crypto regulation. “We’ve certainly seen an increase in the use of cryptocurrencies before this war, and we’ve seen it happen more in emerging markets than in others,” said the deputy managing...
Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto
30.3.2022
Bake N More, a Dubai-based cafe, has become the latest company from the region to add cryptocurrency as a payment option. According to the company’s owner, Mohammad Al Hammadi, Bake N More hinted at possible plans to pay employee salaries in cryptocurrency as well. A Hub for Crypto Users...
Ghana CBDC Development: New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency
28.3.2022
In a recently released document, the Bank of Ghana (BOG) outlines some of its key reasons for developing the central bank digital currency (CBDC). Also, in the document, the bank’s governor insists the institution is open to suggestions that will help it to successfully launch the digital...
UAE Venture Capital Firm Launches $100 Million Seed Fund for Blockchain and Crypto Projects
26.3.2022
Cypher Capital, a United Arab Emirates (UAE)-based venture capital (VC) firm, has announced the launch of a $100 million seed fund that will primarily avail funding to decentralized finance (defi), gamefi, and metaverse projects. Mentoring of Entrepreneurs A United Arab Emirates (UAE)-based venture...
Venezuela’s Sunacrip Launches Petro-Based Gift Card Market and Exchange
26.3.2022
Sunacrip, the Venezuelan cryptocurrency watchdog, has announced a set of improvements to its Petroapp wallet, allowing Venezuelans to use the petro (PTR) for new functions. The app now has an embedded cryptocurrency exchange that allows users to exchange petros for other currencies, and a series...
Report: Kenya Central Bank Governor Reiterates His Opposition to Cryptocurrencies
25.3.2022
The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading...
Salvadoran Bitcoin Bonds Might Be Issued by State Geothermal Company La Geo, Delays Possible
23.3.2022
The treasury minister of El Salvador, Alejandro Zelaya, has informed about the future of the issuance of the bitcoin bonds and the possibility of these being issued by La Geo, the national geothermal power company. Zelaya also referred to the day of issuance of these instruments, hinting at...
Venezuelan Minimum Monthly Wage Not Pegged to the Petro, According to Official Gazette Decree
20.3.2022
The new decree that makes official the recently announced Venezuelan minimum monthly wage rise has been revealed in the Official Gazette, with no mention of its supposed peg to the petro, the national cryptocurrency. The law published mentions that the wage will be 130 VES, using the national fiat...
Crypto Exchange FTX Partners With AZA Finance ‘to Expand the Adoption of Web3 and Digital Currencies in Africa’
19.3.2022
Sam Bankman-Fried’s FTX is partnering with AZA Finance to expand the use of digital currencies and Web3 in Africa. Through this arrangement, the two companies will also work to “onboard African NFTs and artists onto the FTX NFT marketplace.” Bolstering Adoption of Web3...
UAE Hospitality Brand Stella Stays Now Accepts Crypto
17.3.2022
A hospitality brand from the United Arab Emirates(UAE), Stella Stays, has announced that its clients can now pay for services with cryptocurrencies. Clients can pay with bitcoin, ethereum, and 35 more digital assets. Stella Stays’ Tilt Towards ‘Futuristic Tech Offerings’...
Kenyans Lost $120 Million to Cryptocurrency Scams in the Past Financial Year — Government Official
17.3.2022
Kenyans are believed to have lost as much as $120 million to cryptocurrency scammers in the last financial year, a government official has said. The official, however, suggested the number of Kenyans losing funds this way can be reduced if the media helps by disseminating the right information....
US Dollar May Increase Pressure on Emerging Markets
14.3.2022
What’s Happening? The gain of the US Dollar has been against ASEAN currencies. It had gained 0.14% against the Singapore dollar, 2.16% against the Thai baht currency, and 0.71% against the Philippine peso. The Indonesian Rupiah was more resilient, with USD/IDR falling 0.54%. This fall could...
Venezuela Increases Minimum Monthly Wage to Half a Petro
7.3.2022
Nicolas Maduro, president of Venezuela, announced an increase in the minimum wage of workers in the country linked to the petro. In the II Workers’ Congress, Maduro revealed that the new value of the salary would be half a petro, the national cryptocurrency, which is now worth close to $59....
75% of investors in emerging markets want more crypto: survey
4.3.2022
The survey found that the vast majority of investors in APAC and LATAM emerging markets are eager to get more crypto because they believe in its long-term growth trajectory
Study: 77% of Saudis Aware of Cryptocurrencies, Only 18% Currently Buying and Selling
3.3.2022
More than three-quarters of Saudi Arabian residents are aware of cryptocurrencies, a new Yougov survey has found. However, the study also found that only 18% of those surveyed are presently buying and selling cryptocurrencies. Easy Accessibility of Virtual Coins According to the findings of...