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” Remittances drive ‘uneven, but swift’ crypto adoption in Latin America “ Remittance payments, fiat fears, and profit-chasing have been the three most significant drivers of crypto adoption in Latin America, according to a new report. The seventh-largest crypto market in the world saw the value of cryptocurrencies received by individuals rocket 40% between July…
” Why crypto remittance companies are flocking to Mexico “ Mexico is the second-largest recipient of remittances in the world, according to 2021 World Bank statistics. Remittances to the nation jumped to a record $5.3 billion in July, which is a 16.5% increase year-over-year compared to the same period last year. The steady growth presents…
” Korean regulators investigate banks over $6.5B tied to Kimchi premium “ South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency. According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into…
” Bitcoin in Zimbabwe: Importing cars and sending money to family “ Bitcoin (BTC) is a tool for freedom and economic empowerment. For one young Zimbabwean, Ovidy, it turned his life around when he returned to his home country at the onset of the COVID-19 pandemic. An entrepreneur who first learned of Bitcoin while living…
” MoneyGram’s USDC transfer service launches in several countries “ Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients. The service is being rolled out across several key remittance markets, including Canada, the…
” Crypto remittances must have allure of cash without regulatory constraints — Jeremy Allaire “ Digital cash systems built on the blockchain must retain the qualities of physical money in order to attract more users in developing countries — and must be able to do so without regulatory constraints — according to Circle CEO Jeremy…
” The world doesn’t need banks, policymakers or NGOs — It needs DeFi “ Where I grew up, on the southern border in Texas, a tremendous number of people have come to the United States to work and send money back home. They don’t make much money, but they pay considerable fees on their transfers….
” Crypto users in Africa grew by 2,500% in 2021: report “ Cryptocurrency adoption in Africa is on the march, despite socioeconomic factors and headwinds. A positive report by cryptocurrency exchange KuCoin shows that crypto transactions increased by up to 2,670% in 2022. An astonishing growth trend, the steep influx relates to the low values…
“# How are Afghans using crypto under the Taliban government? ” After the Taliban took full control of Afghanistan in August last year, many international non-governmental organizations and services stopped operating in the country. Among them were payment services like Western Union and Swift. Many Afghans subsequently began to learn about cryptocurrencies and the underlying…
“# Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security ” A former member of the Tongan Parliament is behind a proposal to make Bitcoin (BTC) legal tender in the tiny Pacific nation of Tonga, following in the footsteps of El Salvador. It’s due for a vote in Parliament in May and the…