Category: FinTech


New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries


A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital currencies could reduce transaction costs and allow more economic activities in emerging […]


Bank of Uganda Launches Regulatory Sandbox Framework — One Fintech Firm Already Approved


The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. BOU Launches Regulatory Sandbox for Fintech […]


Tanzanian President Wants Central Bank Chiefs to ‘Prepare for Cryptocurrency’


Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking. However, in her address of the Tanzanian finance chiefs, Hassan acknowledges that not everyone […]


The CBN Says Nigeria Will Have a Digital Currency Before End of Year


Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would […]


‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ Strategy


‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ StrategyThe Hong Kong Monetary Authority (HKMA) plans to guide local banks towards full adoption of fintech technologies, a new strategy reveals. The region’s central banking institution also stressed that it’s going to “walk the talk” by digitalizing its own supervision of financial institutions. Hong Kong Central Bank to Support Fintech Development Hong Kong’s monetary policy […]


Crypto Payments App Bottlepay Is Now Available Across Europe


Crypto Payments App Bottlepay Is Now Available Across EuropeU.K.-based crypto payments provider Bottlepay has started offering services in other European countries. Users on the Old Continent will be able to send and receive even small amounts of euro and also buy, store and spend bitcoin with merchants accepting cryptocurrency. Bottlepay Promises Low-Cost Transactions in Euro and Bitcoin The Bottlepay app will allow Europeans […]


Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System


Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create a pathway that leads to the attainment of […]



African Fintech Start-up Chipper Cash Raises $100 Million — CEO Says No Crypto Services for Nigeria


Chipper Cash, an African fintech firm that specializes in facilitating cross-border payments, recently closed a $100 million Series C funding round. Taking the lead in what is now Chipper Cash‘s third fundraising round in the past twelve months is the venture capital (VC) firm, SVB Capital. The VC firm is an investment arm of U.S. […]



Zimbabwe’s Biggest Bank Looks at Methods to ‘Leverage Cryptocurrencies’


Zimbabwe's Biggest Bank Looks at Methods to 'Leverage Cryptocurrencies'One of Zimbabwe’s biggest financial institutions, CBZ Holdings says it is looking at ways it could “leverage cryptocurrencies and other emerging digital innovations.” According to the financial institution’s chairperson, Marc Holtzman, CBZ “is open-minded about new innovations, as these could open up new opportunities going forward.” Innovations Opening up New Markets Speaking in an interview […]


Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With Innovators


Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With InnovatorsAccording to a new report published by the Capital Markets Authority (CMA) of Kenya, the country’s regulatory sandbox has now received 24 applications, queries, and proposals since March 2019. From this total, only seven firms have been admitted into the sandbox, and “a few more (are now) in the final stages of review.” However, just […]



Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on Uniswap


Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on UniswapIn its bid to help users avoid high gas fees on Uniswap, a Kenya-based fintech firm, UTU, recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap. This launch enables prospective UTU coin buyers to acquire the token “with low fees and fast confirmation times.” In a statement posted on the firm’s blog, UTU, […]



Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment Methods


Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment MethodsAccording to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consumers from these countries are “likely to use one emerging payment method in the coming year.” More Respondents […]


Bank of Russia Tests Services Related to Cryptocurrencies


Bank of Russia Tests Services Related to CryptocurrenciesRussia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory environment around three years ago. CBR Pilots 3 Crypto Projects in 2020 […]


Kenyan Capital Markets Regulator Wants Better Coordination With Other Bodies When Testing Crypto Assets


Kenya’s Capital Markets Authority (CMA) says the country needs a more encompassing approach that enables it to leverage other regulators’ expertise when testing crypto assets. Kenyan Crypto Interest Also, the Kenyan body, which favours a joint financial sector regulatory sandbox, says it is keen to forge “a common stance and joint-messaging with the Central Bank […]


Fintechs Invited to Work on Georgia’s Central Bank Digital Currency


Fintechs Invited to Work on Georgia’s Central Bank Digital CurrencyNational Bank of Georgia (NBG) has issued a call for companies in the fintech sector, financial institutions and technology firms to support its efforts to create a digital currency. Georgia’s central bank wants to employ new technologies to raise the efficiency of the country’s payment system and promote financial inclusion. Georgia’s Central Bank Mulling Digital […]


Swiss SEBA Bank Dives Into Defi Expanding Its Offering With 3 Tokens


Swiss SEBA Bank Dives Into Defi Expanding Its Offering With 3 TokensSwitzerland-based crypto bank SEBA is adding support for three defi tokens, bringing the number of cryptocurrencies available on its platform to a total of nine. SEBA clients are able to buy, store and trade with fiat any of these cryptos. SEBA Bank Supports the Coins of 3 Defi Protocols With the new tokens, SEBA Bank […]


Crypto community remembers Hal Finney’s contributions to blockchain on his 65th birthday


The cypherpunk was one of the first people besides Satoshi Nakamoto to mine Bitcoin blocks, and reported many of the early bugs.

It’s been more than ten years since computer scientist Hal Finney became the recipient of the first transaction on the Bitcoin blockchain, and his impact on crypto as a technology is still felt today.

Finney was one of the first people to respond to Satoshi Nakamoto’s post on the cypherpunks mailing list, with some in the space still believing he was one of the pseudonymous individuals behind the creation of Bitcoin (BTC).

The legendary Bitcoin pioneer would have turned 65 years old today, had he not passed away from amyotrophic lateral sclerosis — also known as Lou Gehrig's disease, or ALS — in 2014.

Prior to his death, Finney posted on the Bitcointalk forums about his early experiences with the cryptocurrency. He described mining several blocks on the BTC network as a relatively simple process in 2009, capable of being completed with a CPU rather than a GPU.

“When Satoshi announced the first release of the software, I grabbed it right away,” he said. “I think I was the first person besides Satoshi to run Bitcoin. I mined block 70-something, and I was the recipient of the first Bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them.”

Finney was a well known cryptographer who worked for the PGP Corporation — later acquired by Symantec — in the development of software allowing users to encrypt emails and files. Even though one of his last messages said he was “essentially paralyzed,” Finney used an eyetracker system to write code aimed at beefing up the security around crypto wallets.

Finney is survived by his two children and wife Fran, who today posted a photo of the Bitcoin pioneer running through a neighborhood in the 1980s, an image retweeted by cryptographer Adam Back. Before his diagnosis, Finney was training to run a full marathon.

Prior to his death, Finney and his wife Fran worked to raise awareness and fundraising for ALS. Since his departure, Fran Finney has continued her husband's legacy, working together with the Golden West chapter of the ALS Association.


Ghana Regulator Labels Crypto Transactions Illegal— Urges People to ‘Stay Away From Them’


Ghana Regulator Labels Crypto Transactions Illegal— Urges People to 'Stay Away From Them'Ghana’s Securities and Exchange Commission (SEC) recently warned residents of the West African country to avoid cryptocurrency transactions of any form. In the warning, the regulator reiterated that “cryptocurrencies are illegal in the country and are not regulated by the commission hence Ghanaians should stay away from them.” Risks Associated With Crypto In remarks made […]



US House Passes Bill Mandating SEC and CFTC to Establish Working Group Focused on Digital Assets


US House Passes Bill Mandating SEC and CFTC to Establish Working Group Focused on Digital AssetsThe U.S. House of Representatives has passed a crypto-related bill introduced by pro-bitcoin Congressman Patrick McHenry. It requires the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to establish a working group focused on digital assets. Bill to ‘Ensure Collaboration Between Regulators and Private Sector’ on Cryptocurrency The U.S. House of […]


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