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“# Tonga to copy El Salvador bill making Bitcoin legal tender, says former MP ” Another domino is lined up to fall down the route to Bitcoinization. On Wednesday, the Pacific island nation of Tonga shared a play-by-play approach to adopting Bitcoin (BTC) as legal tender. In a series of tweets, Lord Fusitu’a, a former member…
“# Stellar partners tap USDC for remittances between Europe and Africa ” The Stellar Development Foundation (SDF) has announced that it will facilitate a new remittance channel between Europe and Africa using the USD Coin (USDC) stablecoin. On Oct. 25, the SDF announced that global payments technology company Flutterwave will use the USD Coin (USDC)…
“# Crypto remittances see adoption, but volatility may be a deal breaker ” Cryptocurrency adoption has been growing for a number of reasons. In emerging markets, research suggests crypto remittances are a factor, although some argue that the idea of using cryptocurrencies for these transactions is nothing more than a purist’s dream. The CEO of…
“# Australian crypto businesses tell Senate inquiry about being de-banked up to 91 times ” Crypto-related companies and figures have provided evidence about being de-banked by Australian financial institutions to a Senate inquiry. Crypto investment firm Aus Merchant, global remittance provider Nium and small peer-to-peer crypto brokerage platform Bitcoin Babe were speaking on a panel…
“# El Salvador’s Bitcoin adoption may transform remittance in Central America ” The Central American Bank for Economic Integration (CABEI) has identified remittance as an important aspect of El Salvador’s Bitcoin (BTC) adoption policy. According to Reuters on Tuesday, the regional development bank expects other Central American nations to pay close attention to Bitcoin’s impact…
“# Stellar blockchain remittance corridor to power Thailand–Europe payments ” Cross-border remittance currently stands as one of crypto’s best use cases that will thrust it into mainstream finance. Running parallel to this trend, a new partnership between Velo Labs and two financial institutions has now resulted in a $17-billion remittance corridor between Europe and Thailand. …
“# Inside El Salvador’s Bitcoin experiment: Cointelegraph video report ” Last month, Bitcoin was adopted as legal tender in El Salvador, joining the U.S. dollar. The country’s new Bitcoin Law, which will be enforced starting Sept. 7, will allow Salvadorans to use Bitcoin (BTC) as a currency to purchase goods and services, as well as…
“# Steve Hanke warns BTC could ‘completely collapse the economy’ of El Salvador ” Steve Hanke, a professor of applied economics at Johns Hopkins University, has warned that El Salvador’s recent adoption of Bitcoin (BTC) as legal tender has the potential to “completely collapse the economy.” Steve Hanke served as a senior economist under President…
“# Remittance firms hesitant to support BTC despite legal tender law in El Salvador ” Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin…
“# Telcoin (TEL) gains 300% after layer-2 migration to the Polygon network ” The ability to send money to anyone, anywhere, at any time was one of the original motivations behind Bitcoin (BTC) that helped give rise to the expanding cryptocurrency ecosystem that exists today. Blockchain-based global remittance platforms are one sector of crypto projects…