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Diutocoinnews Weekly News Update: National Bank of Egypt Joins RippleNet Network Utilizing Blockchain Technology.

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Last updated on July 15th, 2020 at 11:46 am

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This week on Diutocoinnews weekly news update, the National Bank of Egypt joined RippleNet Network making it the first bank in the country to use blockchain. 

National Bank of Egypt Joins RippleNet Network Utilizing Blockchain Service in Remittance Service:

The new agreement between the National Bank of Egypt and Ripple will enable the bank create new channels for inward remittances. It will also open up access to new markets, extending its remittance services in the Gulf region.

Currently, Egypt is the largest country in remittances recipient in Africa at $26.4 billion. It’s the fifth largest worldwide as of 2019, after India, China, Mexico, and the Philippines.

Nigeria Calls for a Delay in the Creation of Eco Currency for the West African Region:

Nigeria, the most the country with the highest population and the largest economy in Africa calls for a delay in the launch of a region-wide currency which was scheduled for launch in 2020.

Read in Full: Nigeria Calls for a Delay in the Creation of the Eco Currency for the West African Region.

The announcent came on Monday, 10th February through the office of the President on twitter. 

Nigeria says that her reasons behind the call for a halt in the progress made so far is that the convergence criteria have not been met by majority of the member countries.

“There therefore has to be an extension of time on the take-off of the single currency.”

Aella Credits Secures $10 million Funding Amidst Plans to Launch Creditcoin: 

During the previous week, the Nigeria fintech startup Aella Credit got a $10 million debt financing round, from HQ Financial Group (HQF). HQ is a Singapore-based private company based in new material science, blockchain financial investments and other services. 

Read In Full: Nigeria Based Micro Lending Platform Aella Credit Secures $10 million in Funding to Launch New Blockchain Based Credit Loan Service Creditcoin.

Aella Credits creat new products including a blockchain-based lending market called Creditcoin. The new Creditcoin product will create a more flexible credit loan to its customers and build an additional one million users by the end of 2020.

Barcelona Football Club Partners With Blockchain Platform Chiliz to Create Barca Fan Tokens:

Barcelona Football Club announced it will be partnering with blockchain platform Chiliz and with Socios. Fans can use the digital currency $CHZ, to buy Barça Fan Tokens, giving them the right to vote in club polls & earn rewards.

Read In Full: Barcelona Football Club Partners With Chiliz Bloclchain Platform to Create Own Cryptocurrency $BAR tokens

Barcelona is a top football club in Spain with the largest fan base amongst other football clubs in Spain. 

The launch of Barca Fans Token will help its large fans to use cryptocurrency in club polls and rewards program. This new development will also help in faster adoption and reach in the use of cryptocurrency globally.

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