Category Archives: CBDC

Report: Nigerian Central Bank Targets Tenfold Increase in Number of CBDC Users, Governor Says Use of Cash Will ‘Dissipate to Zero’

By | August 23, 2022

Despite the apparent slow embrace of the e-naira digital currency by Nigerians, the Central Bank of Nigeria governor has said his institution is targeting a tenfold increase in the number of users of the digital currency in the next twelve months. The governor predicted that the use of cash will “dissipate to zero” while the… Read More »

Kenya Has Highest Proportion of Crypto Owning Citizens in Africa UNCTAD Data Shows

By | July 10, 2022

The latest data from the United Nations Conference on Trade and Development (UNCTAD) suggest that Kenya has the highest proportion of crypto-owning inhabitants than any other African country. To counter the growing use of cryptocurrencies, UNCTAD said it recommends the imposition of taxes that discourages crypto trading. ‘A Way to Protect Household Savings’ According to… Read More »

Bank of Korea Seeking Technology to Develop Digital Currency

By | May 25, 2021

South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot… Read More »

China’s Absolute Control Over Digital Yuan Will Boost Demand for Cryptocurrencies, Says Analyst

By | May 22, 2021

China’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens. Digital Yuan Push Could Raise Demand for Crypto Boris Schlossberg, managing director of FX Strategy for BK Asset Management, said… Read More »