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Bitcoin And Cryptocurrency News in Nigeria

NEWS WEEKLY OVERVIEW

Weekly Crypto Overview: The popularity of Collateral Loan Coin Grows in Africa

On this Weekly Crypto Overview on Cryptocurrency, there was a lot of news on collateral loan coin (stablecoin) projects, mostly collateralized stablecoin. 

Many platforms are creating it’s own collateral loan coins in a bid to have a share of the market. The new development saw the development of ABCD collateral loan coin (stablecoin) pegged on binance chain pegged 1:1 to Nigerian Naira.

TikTok Collaborates with ThePaper.cn to integrate AI and Blockchian 

TikTok The owner of TikTok a fast growing social media app in Nigeria has launched a joint venture to create blockchain and artificial intelligence. As reported by Bloomerg.

TikTok owned by ByteDance collaborated with ThePaper.cn a state-owned Chinese media in Shanghai to develop the new business model.

Rwanda Includes Blockchain Technology in It’s Budget for the 2020 Fiscal Year.

The Ministry of ICT and Innovation, Rwanda, includes blockchain among emerging technologies in it’s budget for the 2020 fiscal year..

“Blockchain, just like the whole list of fourth industrial revolution technologies is one of the areas that we are very supportive as a government and how we build that industry and grow it over time.”  says

Paula Musoni, Minister, ICT and Innovation, Rwanda.

Bit Sika Launches ABCD Stablecoin Pegged to Nigerian Naira on Binance Chain. 

Bit Sika is a Ghana-based cross-border money transfer startup. The platform is developing a collateral loan coin (stablecoin) pegged 1:1 to Nigerian Naira to be launched in the nearest future.

Bit Sika is a startup funded by Microtraction, an investment platform based in Lagos Nigeria. Microtraction funds startups and emerging projects in Africa to help them reach it’s potential. 

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