The Bank of Spain has announced a partnership with Cecabank, Abanca, and Adhara Blockchain to pilot a central bank digital currency (CBDC). This initiative propels Spain to the forefront of digital currency exploration, independent of the broader digital euro project. The upcoming six-month trial will simulate interbank payments using a tokenized wholesale CBDC, a groundbreaking step in testing the viability of digital currencies […]

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The Securities Exchange Commission (SEC) of Nigeria has introduced stringent licensing requirements that could reshape the industry. Despite the Central Bank of Nigeria (CBN) recently lifting a ban on banks’ engagement with cryptocurrencies, local crypto exchanges are facing a new hurdle: the SEC’s steep capital requirements. Crypto expert Rume Ophi has voiced concerns that the […]

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Chinese authorities have unearthed a colossal $2.2 billion underground forex operation, intricately linked to virtual currency trading platforms. This action highlights China’s stringent approach to controlling financial transactions across its borders. The Qingdao Branch of the State Administration of Foreign Exchange’s Inspector, Xu Xiao, shed light on the mechanism of the scheme. Underground banks were buying […]

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In a strategic move, President Recep Tayyip Erdoğan has infused fresh expertise into Turkey’s central banking system by appointing Professor Fatma Ozkul, a renowned academic in the realm of digital finance, to the Monetary Policy Committee. With her tenure commencing at Marmara University in 2012, Ozkul’s portfolio boasts a deep dive into the intricacies of blockchain and cryptocurrency. […]

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A coalition of leading Nigerian banks has announced the launch of the cNGN stablecoin, a digital currency pegged to the Nigerian naira. This strategic initiative aims to enhance the country’s financial system by integrating the benefits of blockchain technology. The cNGN is not just a digital currency but a bridge to the future of finance […]

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The National Bank of Kazakhstan has successfully completed a month-long trial, showcasing the versatility of the digital tenge across various applications, from facilitating free lunches for schoolchildren in Almaty to the tokenization of gold. This innovative currency has been integrated seamlessly into the daily lives of citizens, thanks to the collaboration with local banks and global payment giants Visa and […]

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Bitcoin Group has announced a series of enhancements to its internal controls. This strategic initiative is a response to the German financial watchdog BaFin’s directive, which pinpointed significant gaps at futurum bank, a Bitcoin Group subsidiary. BaFin’s concerns centered around the institution’s anti-money laundering (AML) and counter-terrorist financing (CTF) protocols. In a recent statement, Bitcoin […]

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Ripple’s Chief for Central Bank Engagements, James Wallis, has articulated the transformative impact that Central Bank Digital Currencies (CBDCs) could have in bridging economic divides internationally. Wallis, whose acumen in CBDCs is recognized, underscored the intention behind these virtual currencies to extend financial outreach to those with scant incomes and no conventional banking linkages. Wallis […]

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Singapore’s central banking authority, the Monetary Authority of Singapore (MAS), has launched an ambitious pilot scheme to deploy a live, wholesale Central Bank Digital Currency (CBDC) for bank settlements. Unveiled by MAS managing director Ravi Menon at the Singapore Fintech Festival on the 16th of November, this initiative signifies a pivotal shift from experimental simulations […]

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The ATM business is an under-the-radar yet profitable entrepreneurial avenue. As the global ATM market remains robust, it offers compelling opportunities for business-minded individuals. Potential of ATM Business Keys to ATM Business Success Embarking on an ATM machine business, like when you decide to buy ATM machines, requires market understanding and strategic execution. With the […]

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