Nigeria Central Bank governor, Godwin Emefiele, disclosed at the just concluded eNaira Hackathon in Abuja, the re-launch of eNaira, Africa’s first CBDC, that Nigerians would now be able to transact on eNaira wallet through the Unstructured Supplementary Service Data (USSD) code on mobile phones, thereby providing more possibilities of it’s expansion to support the resilient payment eco-system. The eNaira, a central bank digital currency, which is backed by law and issued by the CBN as a legal tender, will allow both the banked and unbanked, to open an eNaira wallet and conduct transactions by simply dialling *997# form their phones,…
Author: Millicent Odife-Martins
The South Korean multinational giant, Samsung, is all set to launch a bitcoin and crypto exchange in South Korea with other members of Korea Financial Investment Association in 2023. The Samsung securities, Mirae Asset Securities, South Korea’s largest investment banking and stock brokerage, have been exploring admission into the block-chain space via security token market, and obtaining licenses from financial authorities in the second-half of 2022. The South Korean Ministry of Strategy and Finance revealed its plans that air-drops crypto tokens staking rewards, and hard-forked assets would be established under the scope of influence of a gift tax. The Korea…
Local banks in South Africa decide to terminate relationships with crypto entities that offer automated cryptocurrency arbitrage services due to financial institutions:s compliance and regulations. The South African primary banking industry regulator, the Prudential Authority, discloses that terminating relationships with crypto entities may threaten the financial integrity of both persons “s and entities. The CEO of Prudential Authority sent a guidance note to financial institutions and independent auditors to perform the relevant risk assessment for each crypto asset or its service providers, which will enable banks to determine the appropriate level of money laundering, terrorist financing, proliferation financing as opposed…
Crypto adoption is a fast-moving trend in Nigeria despite the government’s CBN regulation and a ban on financial institutions on crypto transactions. However, Nigeria still ranks Number 1 in Peer-to-Peer bitcoin trade and ranks the highest in Google search terms ‘BTC mining,’ ‘cryptocurrency,’ ‘invest in crypto,’ and ‘buy crypto’ worldwide. One of the main reasons for the interest in crypto-currency is its limited access to monetary services, as Nigeria lacks proper banking and fiat-based opportunities. Live on air Nigeria Info, 99.3 FM CEO of Botmecash and Co-founder of Satoshis Journal, Mr. Oluwasegun Kosemani, recently emphasized bitcoin adoption as a different…
BlackRock Still Sees Substantial Interest From Institutional Clients BlackRock Inc, the world’s largest asset manager, has launched ” BlackRock bitcoin private trust.’ Despite the steep downturn in the digital asset market, BlackRock still sees substantial interest from institutional clients. The asset manager added that bitcoin is the oldest, largest, and most liquid crypto asset and Is currently within the crypto asset space Source: Bitcoin.com Vinteum Set To Fund Bitcoin Developers In Latin America The non-profit organization Vinteum launches funding for Bitcoin developers in Brazil, Latin America The organization will provide educational onboarding and funding for bitcoin developers in Brazil and…
Iran made its first official import order using cryptocurrency this week, the semi-official Tasnim agency reported on Tuesday, enabling the Islamic Republic to circumvent U.S. sanctions that have crippled the economy. The order, worth $10 million, was a first step towards allowing the country to trade through digital assets that bypass the dollar-dominated global financial system and to trade with other countries similarly limited by U.S. sanctions, such as Russia. The agency didn’t specify which agency used cryptocurrency in the transaction. The United States imposed an almost total economic embargo on Iran, including a ban on all imports from the…
Today on the Orange Sun, we talked about Bitcoin self-custody. One of Bitcoin’s core attributes is that it does not require financial institutions. You no longer need to keep your assets with a bank if you own crypto, and this means you have total control of your purchases and considerable responsibility for securing them. One of the reasons why anyone should care about self-custody is because it signifies that only you possess your digital money or other digital assets. After all, you control the private key, and you are responsible for safeguarding access to your private key because it is…
Networking is one seamless means to connect with like minds for collaborations, partnerships, or learning more about a particular subject, product or service. Mary Imasuen put the Nigerian Bitcoin meetup together for bitcoiners and no-coiners to network, share ideas, and learn more about bitcoin, while orange pilling new plebs to talk about how to grow and how to spread the Bitcoin ethos. Every Bitcoiner was invited, from meetup organizers and regular attendees. The Nigerian Bitcoin meetup is a fantastic way to get to know other local Bitcoiners. They provide an opportunity to learn and discuss Bitcoin, which can be hard…
“Bitcoin for Africa, by Africans” was the key theme at the Qala Bitcoin developer offsite event held earlier this month in Lagos, Nigeria. For many African software developers, the pathway to a career as a Bitcoin developer remains an unexplored possibility. This is the challenge that the team at Qala Africa is trying to fix. Program Director of Qala, Femi Longe elucidated how Bitcoin is a lifeline that has provided options to many young Africans who have been locked out of income-generating opportunities. Africa offers the best use cases for Bitcoin as an innovation. Peer-to-peer engagement is a core part…