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Rwandan Research Paper Recommends CBDC With ‘Partial Pseudo-Anonymity’

Rwandan Research Paper Recommends CBDC With ‘Partial Pseudo-Anonymity’A recent research paper from the National Bank of Rwanda recommends a two-tier, universal, zero-interest central bank digital currency (CBDC) with partial pseudo-anonymity. Although the research paper identifies 15 opportunities for CBDC, only four are said to offer “high potential benefits and limited alternative choices to obtain similar advantages.” Research Paper Identifies 15 CBDC Opportunities […]

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Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report

Remittances to Low and Middle Income Countries in 2022 Up by 5% to 6 Billion — Latest World Bank ReportDespite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed to the concurrent crises.” Impact of the […]

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Ripple Remittances Partner Says SEC’s Claim That XRP Is an ‘Investment Contract’ Is False

Ripple Remittances Partner Says SEC’s Claim That XRP Is an ‘Investment Contract’ Is False

A partner company of payments platform Ripple says the U.S. Securities and Exchange Commission’s (SEC) claims that XRP is an investment contract are untrue. According to new documents, I-Remit, a global remittances network, is filing an amicus brief in support of Ripple claiming that the SEC’s claims against the firm hold no water. I-Remit says […]

The post Ripple Remittances Partner Says SEC’s Claim That XRP Is an ‘Investment Contract’ Is False appeared first on The Daily Hodl.

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Ripple Launching XRP-Fueled Payments Service in Brazil in Partnership With Latin American Bank

Ripple Launching XRP-Fueled Payments Service in Brazil in Partnership With Latin American Bank

Payments platform Ripple Labs is teaming up with Travelex Bank in Brazil to bring XRP-based remittances to the seventh most populous nation in the world. According to a new press release, the San Francisco-based firm says that the partnership makes Travelex the first bank in Latin America to utilize RippleNet’s On-Demand Liquidity (ODL) protocol. ODL […]

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CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor

CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank GovernorThe 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 becomes increasingly digital.” CBDC Gateway to Digital Economy The […]

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Ripple Competitor and MoneyGram Roll Out Zero-Fee Money Transfer Service Using USDC Stablecoin

Ripple Competitor and MoneyGram Roll Out Zero-Fee Money Transfer Service Using USDC Stablecoin

Ripple challenger Stellar (XLM) is teaming up with money transferring service MoneyGram to launch a new global crypto-to-cash protocol featuring stablecoin USD Coin (USDC). According to a recent press release, the duo plans to create a system that will act as a bridge between fiat money and cryptocurrencies to make remittances easier, enhancing the overall […]

The post Ripple Competitor and MoneyGram Roll Out Zero-Fee Money Transfer Service Using USDC Stablecoin appeared first on The Daily Hodl.

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Creator of App for Remittances to Africa and Asia Raises $65 Million in Series B Round

Creator of App for Remittances to Africa and Asia Raises  Million in Series B RoundTap Send, the creator of a remittances app of the same name, revealed it has raised $65 million in a Series B funding round. The fintech firm plans to use the funds to build a cheaper and faster cross-border money transfer platform. Remittances to Overlooked Countries The fintech startup behind the remittances app, Tap Send, […]

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Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still HighNigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown. The Impact of Nigerian Policies on Remittances According to the November 17, 2021 press release, this increase in the value of funds […]

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IMF Says Nigerian CBDC Drawing Global Interest, Warns of Associated Risks

IMF Says Nigerian CBDC Drawing Global Interest, Warns of Associated RisksThe International Monetary Fund (IMF) has acknowledged that the recently launched Nigerian central bank digital currency (CBDC) is attracting interest from many institutions globally, including central banks. Still, the fund warns that the CBDC carries risks for monetary policy implementation, cyber security, operational resilience, and financial integrity and stability. CBDC Attracting Interest In its latest […]

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Nearly 500,000 Nigerian CBDC Wallets Downloaded Since Launch

Nearly 500,000 Nigerian CBDC Wallets Downloaded Since LaunchNearly half a million e-naira wallets have been downloaded a few weeks after the central bank digital currency (CBDC) was officially launched by Nigerian President Muhammadu Buhari, the central bank has said. E-Naira’s Initial Trade Volumes In addition to the 488,000 wallets that have been downloaded, Osita Nwanisobi, who is the Central Bank of Nigeria […]

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