Only 18% of Africans have owned digital assets: report
The report also revealed that high-earning millennials are the most digital currency-savvy and that poorer countries like Namibia lead digital currency usage in Africa.
The report also revealed that high-earning millennials are the most digital currency-savvy and that poorer countries like Namibia lead digital currency usage in Africa.
Nigeria has now lifted a ban that it placed in 2020 allowing remittance payments only in the USD—experts say the move will re-ignite the dwindling remittances.
Standard Bank CEO Lungisa Fuzile says that the bank is approaching digital assets cautiously in fear of an implosion, but it will be quick to adapt to a change in the market.
Under the new law, the country’s finance minister has the power to appoint entities to serve as the regulatory authority, which will be able to issue licenses to digital currency service providers.
The Finance Bill has come under heavy criticism for its new taxes, including a 3% tax on digital asset sales, which exchanges must remit within 24 hours.
Centi partnered with Centbee to power remittances from Switzerland to African countries, and combined with the all-new Centi stablecoin, it could be a game-changer.
This agreement between Africa and ASEAN marks the beginning of the collaboration in the two regions in areas like payments, lending, startup development, regulatory exchange, and more.
nChain's study titled "Immutable Livestock Tracking and Compliance Logs Using Blockchain" tracks cattle from birth, recording all meaningful events in the supply chain for easy verification later.
Some say the tax is an endorsement and legal recognition by the Nigerian government, but others say the tax is too high and could milk the nascent industry dry.
The bank issued a discussion paper a year ago, and after assessing the feedback, it says Kenya can solve its payment issues in other ways and doesn’t need a CBDC.
The latest partnership between Centi and digital cash wallet Centbee seeks to make remittance services from Switzerland to Africa more cost-effective and inclusive through blockchain technology.
Zimbabwe’s tokens are backed by 140 kilograms of gold, the central bank says, revealing it’s preparing for a second round of sale despite an IMF warning.