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Defi Can Strengthen the United States’ Leadership in Tech and Financial Services, CFTC Report Says

[Jan 9 12:30 PM] Decentralized finance projects and their respective ecosystems potentially offer both promising opportunities and risks to the U.S. financial system, a Commodities Futures Trading Commission (CFTC) study has found. The CFTC study report recommends…

41% of Central Banks Expect to Have Operational CBDCs by 2028 — Study

[Dec 26, 2023 6:30 AM] Some 41% of central banks that participated in the Official Monetary and Financial Institutions Forum (OMFIF) study said they expect to have an operational central bank digital currency (CBDC) by 2028. The survey found that the sentiment towards…

UNDP and Algorand Foundation to Launch Blockchain Academy in Q1 of 2024

[Dec 6, 2023 7:00 AM] The United Nations Development Programme together with the Algorand Foundation are set to launch a blockchain academy in the first quarter of 2024. The objective of the academy is to provide the UNDP’s employees “with knowledge and insights…

IMF Boss Kristalina Georgieva Calls to Accelerate ‘Financial Inclusion’ Through Digitalization

[Oct 18, 2023 1:30 AM] Kristalina Georgieva, managing director of the International Monetary Fund (IMF), has argued that digitalization could help to scale up “financial inclusion.” During a keynote, Georgieva stated that digitalization worked well in this…

Central Bank Digital Currency a Threat to Financial Stability — Nigerian Central Bank Study

[Sep 26, 2023 9:30 PM] Despite the role it has played in narrowing the financial inclusion gap, the e-naira central bank digital currency still poses a risk to financial stability. In addition to bolstering the financial inclusion rate, the central bank claimed that the…

Kenyan Fintech Startup Kotani Pay Receives $2 Million Pre-Seed Funding

[Sep 7, 2023 9:30 PM] The Kenyan fintech startup Kotani Pay has raised $2 million in a pre-seed funding round which was led by P1 Ventures. The capital raised will be used to fund the startup’s expansion into five African countries. Felix Macharia said his firm is…

Egyptian and Nigerian Central Banks Sign Agreement to Deepen Cross-Border Regulation

[Jul 20, 2023 5:30 AM] The central banks of Egypt and Nigeria have signed a fintech agreement to deepen the two institutions’ “cross-border regulatory collaboration” and information sharing. The London Institute of Banking & Finance, which also…

BIS Survey: 93% of the World’s Central Banks Are Engaged in CBDC Work

[Jul 11, 2023 11:30 PM] The Bank for International Settlements (BIS), an organization that seeks to support the international cooperation of the world’s central banks, has released the results of its 2022 survey on central bank digital currencies (CBDC) and crypto…

Bots Sending BTC — Lightning Labs Releases New Tools for AI-Bitcoin Integration

[Jul 11, 2023 11:30 AM] On July 6, Lightning Labs released new developer tools to enhance the intersection of artificial intelligence (AI) and Bitcoin. The layer two (L2) startup introduced a new specification known as L402 and tools that enable AI systems to conduct…

Crypto offers Africans a ‘lifeline’ from inflation and corruption, say execs

[Jun 29, 2023 4:52 PM] Chris Maurice, founder and CEO of crypto exchange Yellow Card said in Africa, crypto isn't the "casino" that it can sometimes feel like in the West.

African Fintech M-Kopa Secures $200M in Debt Financing Plus $55M in Equity Funding

[May 24, 2023 5:30 AM] Kenya-headquartered African fintech M-Kopa is reported to have secured $200 million in debt financing and an additional $55 million in equity funding. Financial services group Standard Bank Group led the debt financing round while the investment…

Bitcoin Voucher Provider Azteco Secures $6 Million Funding Round Led by Jack Dorsey

[May 19, 2023 10:00 PM] On Thursday, California-based bitcoin voucher company Azteco revealed it had garnered $6 million in seed funding through a round spearheaded by Block, Inc.’s CEO and chairperson, Jack Dorsey. Azteco stated that the newly acquired capital…

Consensus Pitchfest 2023: Finance for the Unbanked

[Apr 21, 2023 2:14 PM] The Consensus Pitchfest 2023 gives a platform to firms that are leading game-changing innovations in crypto, creating more space for financial inclusion and empowerment globally.

‘Over-Collateralization Can Help Mitigate the Risk of Stablecoin Depegging’ — Pendulum CTO

[Apr 5, 2023 2:30 AM] Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber…

Report: UAE Central Bank Implements Digital Currency Strategy

[Mar 29, 2023 2:30 AM] The central bank in the United Arab Emirates said it has started implementing its digital currency strategy with partners G42 Cloud and R3. According to the central bank, the digital currency initiative is expected to “further position and…

US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

[Mar 2, 2023 9:30 AM] On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech…

Zambia Testing Technology to Regulate Cryptocurrency — Government Minister

[Feb 19, 2023 2:00 AM] The Bank of Zambia and the country’s securities regulators are currently testing the technology to regulate cryptocurrencies, a Zambian government minister has said. According to Felix Mutati, cryptocurrency is a revolutionary technology that…

Ghanaian and Nigerian Central Bank Open Respective Regulatory Sandbox Application Processes

[Jan 29, 2023 3:30 AM] The Ghanaian and Nigerian central banks have invited financial innovators that wish to be included in their respective regulatory sandboxes to submit applications. The Bank of Ghana said its sandbox will also support innovations that attempt to…

Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches

[Jan 23, 2023 5:00 PM] With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new banknotes. Despite growing pressure for it to extend the period for…

New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor

[Nov 27, 2022 3:00 AM] The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial inclusion cause. Forcing Currency Hoarders…

Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission

[Nov 20, 2022 4:30 AM] According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a…

Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa

[Nov 18, 2022 1:00 AM] Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of…

Egyptian Fintech Raises $31 Million in Series B Funding Round

[Nov 9, 2022 10:30 PM] Moneyfellows, an Egyptian fintech startup specializing in digitizing money circles, recently announced the close of its Series B funding round that raised $31 million. The funds will be used to finance Moneyfellows’ expansion into other…