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Korean regulators investigate banks over $6.5B tied to Kimchi premium
16.8.2022
South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges
Kenya Central Bank Orders Financial Institutions to Stop Dealing With Two Nigerian Fintechs
1.8.2022
In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigerian fintechs, Flutterwave and Chipper Cash. The letter reiterates the CBK governor Patrick Njoroge...
Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators
30.7.2022
The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s...
FOMO Pay taps Ripple's liquidity solution for treasury management
26.7.2022
Ripple has continued to see adoption for its remittance technology from private institutions despite the ongoing lawsuit in the U.S
FTX CEO Sam Bankman-Fried Believes Crypto Will Thrive in Latam
26.7.2022
Sam Bankman-Fried, CEO of FTX, believes that the future of crypto is bright in Latam. In a recent interview, Bankman-Fried recognized the rising adoption and demand that cryptocurrencies are experiencing in Latam, stating that use is expected to grow for remittances and payments in the future....
Cryptocurrencies a ‘Good Alternative to Traditional Settlement Processes’ — Study
25.7.2022
Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money...
Technicals suggest Bitcoin is still far from ideal for daily payments
19.7.2022
Even with the rise of layer-2 solutions, many experts believe Bitcoin may have missed the boat as a currency for day-to-day remittances go
Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduce Remittance Costs to Less Than 3% by 2030
14.7.2022
The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies...
UN Report: Venezuela Ranks Third Among Countries With Most Crypto Adoption
11.7.2022
Venezuela, one of the first countries in Latam to be considered “crypto-friendly” by some standards, has ranked third in adoption rates, according to a report issued by the United Nations. The report, issued last month, states that the cryptocurrency ecosystem has grown by 2,300%...
Crypto Exchange Bitso Launches Remittance Service in Colombia
11.7.2022
Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service...
Kenya Has Highest Proportion of Crypto Owning Citizens in Africa UNCTAD Data Shows
10.7.2022
The latest data from the United Nations Conference on Trade and Development (UNCTAD) suggest that Kenya has the highest proportion of crypto-owning inhabitants than any other African country. To counter the growing use of cryptocurrencies, UNCTAD said it recommends the imposition of taxes that...
Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation
7.7.2022
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March...
El Salvador's Bitcoin wallet Chivo scores $52M in remittances in 2022
6.7.2022
El Salvador payment app Chivo processed $52 million in remittances over the past 6 months, as expatriates make use of commission-free BTC transfers
CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor
26.6.2022
The governor of the Central Bank of Nigeria (CBN) has insisted the recently introduced e-naira digital currency can potentially boost trade and investment activities in the country. He added the digital currency “would be necessary in the future to ensure Nigeria is competitive as the world...
Bitcoin in Zimbabwe: Importing cars and sending money to family
21.6.2022
A young Zimbabwean Bitcoiner built out a business with Bitcoin — importing cars and sending remittance payments — when he returned to his homeland during the COVID-19 pandemic
Bitso Processed $1B in Crypto Remittances Between Mexico and the US in First Half of 2022
16.6.2022
The company hopes to capture 10% of global money transfers to the Latin American country by 2023
MoneyGram’s USDC transfer service launches in several countries
10.6.2022
The payment service, which is powered by the Stellar blockchain, will enable USDC settlement with MoneyGram in “near-real-time.”
40% of Surveyed Lower-income Individuals Want to Use Bitcoin - Not to Make Money
1.6.2022
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...
Crypto remittances must have allure of cash without regulatory constraints — Jeremy Allaire
23.5.2022
The CEO of Circle joined Ripple’s Brad Garlinghouse and Asif Saleh of BRAC in a panel discussion at the World Economic Forum Annual Meeting
Robinhood Opens Crypto Wallets to 2M Clients, Bets on Global Bitcoin Remittances
29.4.2022
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...