Coming to Nigeria, the story is not the same. The first mobile money service in Nigeria dates back to 2009. Since then, a dozen new mobile money service providers have emerged with Paga currently, topping the list.
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.