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Report: Nigerian Central Bank Targets Tenfold Increase in Number of CBDC Users, Governor Says Use of Cash Will ‘Dissipate to Zero’

Report: Nigerian Central Bank Targets Tenfold Increase in Number of CBDC Users, Governor Says Use of Cash Will ‘Dissipate to Zero’Despite the apparent slow embrace of the e-naira digital currency by Nigerians, the Central Bank of Nigeria governor has said his institution is targeting a tenfold increase in the number of users of the digital currency in the next twelve months. The governor predicted that the use of cash will “dissipate to zero” while the […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank Governor

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank GovernorApathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a channel that would enable Nigerians without bank accounts to open e-naira wallets. E-Naira Undercuts […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

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 […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

Report: Nigerian CBDC Wallet Update to Enable Utility Payments, USSD Functionality to Be Added

Report: Nigerian CBDC Wallet Update to Enable Utility Payments, USSD Functionality to Be AddedThe Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means people without bank accounts will be able […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

Yellow Card Announces It’s Resuming Deposits and Withdrawals via the Naira

Yellow Card Announces It’s Resuming Deposits and Withdrawals via the NairaYellow Card has announced the resumption of naira deposits and withdrawals in Nigeria via a statement from the cryptocurrency exchange platform. The move by the company comes almost a year after a central bank directive forced Yellow Card to suspend deposits and withdrawals. CBN’s Growing Interest in Digital Currencies Almost a year after suspending services […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

Nigerian Experts: CBDC Still Unattractive to Users Despite Claim of ‘Excellent’ Adoption Rate

Nigerian Experts: CBDC Still Unattractive to Users Despite Claim of ‘Excellent’ Adoption RateNigerian blockchain and cryptocurrency experts have suggested that many prospective users will only consider adopting the e-naira once the central bank has done enough to make the CBDC (central bank digital currency) an attractive option to use. E-Naira Still Unattractive to Users Some Nigerian experts have expressed doubts about claims by the Central Bank of […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

Nigerian Central Bank Wants Financial Institutions to Develop Products Based on Its CBDC

Nigerian Central Bank Wants Financial Institutions to Develop Products Based on Its CBDCThe Central Bank of Nigeria has said it wants players in the country’s payment industry to develop and help introduce products based on its central bank digital currency, the e-naira. Central Bank Open to Suggestions In its bid to deepen the adoption of the e-naira, the Central Bank of Nigeria (CBN) has asked payment service […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

Kenya Central Bank Governor on CBDC: It’s About Getting It Right Rather Than Being First

Kenya Central Bank Governor on CBDC: It’s About Getting It Right Rather Than Being FirstThe Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is currently exploring the use of central bank digital currencies (CBDC) to settle cross-border payments. Njoroge however insists the bank’s priority is getting it right rather than being the first. CBK’s Approach According to a report by the Kenyan Wallstreet, Njoroge — […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

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 […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

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 […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’