World Bank projects the remittances to Nigeria, Egypt, Senegal and other Low and Middle-income Countries (LMICs) to drop sharply by 19.7% to $445 billion in 2020.
Following the plans by the government to distribute stimulus package to support businesses, the sharing of the first tranche of the Central Bank of Nigeria N50bn targeted credit facility have started.
Since after the launch of the first bitcoin ATM in Nigeria, the number of bitcoin ATM in Africa and beyond have significantly increased. We have a total of more than 7,600 Bitcoin ATMs throughout the world.
Humanity is facing a great problem during this period, a threat that does not discriminate by race, academic and political background.
Blockchain4Covid19 is out to help combat the coronavirus pandemic
Paystack is one of the top payment processors in Nigeria with over 10 million unique transactions each month for over 60,000 businesses including Branch, Palmcredit, and MTN.
South Africa’s top financial regulators and the country's apex bank—South African Reserve Bank, have collectively issued a policy paper with 30 recommendations for the regulation of cryptocurrency and related service providers.
China is looking to take over the blockchain space while the other world powers are still trying to recover from the adverse effects of COVID-19 pandemic.
While many fintech startups are emerging in Nigeria, banks and financial institutions are re-positioning to maintain their stronghold. Moreso, crypto companies are emerging to provide user-friendly products to their customers.
Screenshots of the supposed online test wallet for the China's Central Bank Digital Currency has surfaced the internet following an announcement that its use will be tested in four major cities of China.
With an increase in the adverse effect of coronavirus pandemic, financial institutions all over the world are increasingly looking into emerging technologies like blockchain to mitigate economic meltdown and to achieve financial inclusion.