Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped

July 29, 2024 Bitcoin.com

Africa

Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign exchange surrender requirements and lifted restrictions on certain imports. In return, Ethiopia, which is seeking BRICS membership, is expected to receive a $10.7 billion loan […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments

July 25, 2024 Bitcoin.com

Africa

The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof of concept (POC) demonstrated the effectiveness of utilizing digital credentials for international trade and cross-border […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

South African Startup Neonomad to Launch Rand-Backed Stablecoin

July 24, 2024 Bitcoin.com

Africa

Neonomad, the South African hybrid exchange platform, is set to launch Zarcoin, a stablecoin tied to the South African Rand. This innovative stablecoin epitomizes the seamless integration of regulatory safety with decentralized efficiency. Neonomad’s platform will also facilitate multiple offerings, including in the decentralized finance space. Banking South Africa’s Unbanked South African fintech startup Neonomad, […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

Nigeria’s Self-Proclaimed Crypto Billionaire Released From Police Custody

July 21, 2024 Bitcoin.com

Africa

The recently detained Nigerian self-proclaimed cryptocurrency billionaire, Linus Williams, has been released on bail. According to a controversial Instagram celebrity, Verydarkman, the crypto billionaire begged for release but is expected to answer for his alleged crimes soon. Self-Proclaimed Billionaire Begged to Be Released Nigeria’s self-proclaimed cryptocurrency billionaire, Linus Williams, recently arrested on charges of fraud […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

Nigeria Acts to Defend Naira After Currency Hits New Record Low

July 21, 2024 Bitcoin.com

Africa

The Central Bank of Nigeria recently sold U.S. dollars to Bureaux de Change (BDC) at a flat rate of NGN1,450 per greenback. The central bank stated that eligible BDCs can sell the dollars to end-users at a margin of no more than 1.5% above the purchase exchange rate. The Nigerian apex bank disclosed that it […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

IMF Warns Zambia Against Dedollarization, Calls Plan Counterproductive

July 20, 2024 Bitcoin.com

Africa

An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in Zambia are not conducive for the country to proceed with the de-dollarization proposals. Zambia Not Ideally Placed to Dedollarize The International Monetary Fund (IMF)’s Zambian representative, […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

South African Exchange Luno Leverages Fireblocks’ Enterprise-Grade Digital Asset Platform

July 19, 2024 Bitcoin.com

Africa

South African crypto exchange Luno has announced that it is integrating its platform with Fireblock’s enterprise-grade digital asset transfer platform. Aleks Andjelopolj suggested that leveraging Fireblocks means Luno users will experience the same immediate transaction settlement enjoyed by customers of the same bank. The Allure of Fireblocks Integration The South African cryptocurrency trading platform Luno […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

Nigeria Police Arrest Self-Proclaimed Crypto Billionaire on Charges of Cryptocurrency Fraud and Terrorism Funding

July 17, 2024 Bitcoin.com

Africa

On July 16, the Nigeria Police Force confirmed the arrest of Linus Williams, a self-proclaimed crypto billionaire also known as Blord. Williams faces charges related to internet fraud, terrorism funding, and violations of the Central Bank of Nigeria (CBN) Act. According to a police spokesman, some of Williams’ alleged crimes involve the use of cryptocurrency […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

Nigerian Witness Says Binance Users Operate Under False Identities

July 8, 2024 Bitcoin.com

Africa

A witness in the ongoing Nigerian money laundering trial against Binance has alleged that many local users of the cryptocurrency exchange platform are operating under false identities. The witness further claimed that by allowing users to withdraw Nigerian naira (NGN), a regulated activity, Binance is in violation of local laws. Money Laundering Charges A deputy […]

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

Zambia to Outlaw Use of Foreign Currency, Criminals Could Face Jail Time for up to 10 Years

July 6, 2024 Bitcoin.com

Africa

The Bank of Zambia has proposed a new series of guidelines that seek to outlaw the use of foreign currency, including the U.S. dollar, for local transactions. If finally approved, the document would establish harsh penalties for infringement, including jail time for up to ten years and hefty fines. Zambia to Punish Illegal Use of […]

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