News

EthSwitch, Ethiopia’s National Payment Switch, has marked a transformative year by recording over a 250% year-on-year (YoY) increase in peer-to-peer (P2P) transaction volumes, overtaking ATMs in terms of transaction value. This growth underscores a rapid shift toward digital payment methods in Ethiopia, driven by increased financial inclusion efforts and the adoption of interoperable financial services….

The Bank of Ghana (BoG) has successfully completed the pilot phase of its Central Bank Digital Currency (CBDC), the eCedi, in partnership with Giesecke+Devrient (G+D), a leading international security technology provider. Despite the achievement, the BoG has emphasized that economic stabilization must take precedence before the full-scale implementation of the eCedi initiative. Key Takeaways: Pilot…

A recent report by Andreessen Horowitz (a16z), a leading venture capital firm, has revealed a fascinating trend: Nigeria has become the global leader in mobile crypto wallet users, second only to the United States. This revelation comes as part of a16z’s “State of Crypto 2024” report, offering a comprehensive analysis of the current crypto landscape….

In a landmark lawsuit, 18 U.S. states have filed against the U.S. Securities and Exchange Commission (SEC), claiming that the agency’s regulatory approach under Chairman Gary Gensler represents unconstitutional overreach and disproportionately targets the cryptocurrency industry. The lawsuit contends that the SEC has violated states’ rights by attempting to impose broad, centralized regulations on crypto…

South Africa’s leading crypto exchange, VALR, has achieved a remarkable milestone, surpassing 1 million users in 2024. This impressive feat signifies a surge in crypto adoption within South Africa and beyond. A Year of Growth The past year has been exceptional for VALR, witnessing a phenomenal user base expansion. With a staggering 500,000 new users…

A recent survey by Sygnum Bank revealed that over half (57%) of institutional investors and finance professionals plan to increase their exposure to crypto assets. This insight marks a significant shift in traditional finance, underscoring the growing confidence among institutions in the long-term value and utility of digital assets. Institutional Shift Toward Crypto The increasing…

The already complex FTX bankruptcy proceedings have taken another dramatic turn, with Three Arrows Capital (3AC) liquidators increasing their claim against the bankrupt crypto exchange to a staggering $1.53 billion. This significant upward revision from the initial $120 million claim underscores the extent of 3AC’s losses and the potential impact on FTX’s creditors. 3AC, a…

BlackRock has made a significant move in the DeFi sector by expanding its BUIDL initiative to a range of popular blockchain networks, including Aptos, Arbitrum, Avalanche, Optimism’s OP mainnet, and Polygon. This development aligns with BlackRock’s broader goal of leveraging blockchain to create robust, decentralized financial products accessible across multiple platforms. The BUIDL initiative’s expansion…

The latest Consumer Price Index (CPI) data released by the US Bureau of Labor Statistics has shown a slight uptick in inflation, reaching 2.6% year-over-year. This figure, while higher than the previous month’s 2.4%, aligns with market expectations. The modest increase in inflation can be attributed to several factors, including rising energy prices and the…