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Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation.…
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…
The Bank of Zambia has defended its de-dollarization plans but also seeks input from stakeholders who oppose the proposal. The central bank governor clarified that they are not proposing anything…
The Libyan dinar’s recent devaluation has been blamed on a flood of illicit banknotes exchanged for U.S. dollars. A report identified the Russian state money printer as a potential source…
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…
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…
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…
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…
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…
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…