Nigeria’s June P2P Bitcoin Trade Volumes Surged Again Despite Central Bank’s ...
Nigeria’s peer-to-peer bitcoin trade volumes went up to just under $38 million in June 2021, the latest data shows. This surge becomes only the second time Nigerian P2P traded volumes have breached the $35 million mark in 2021. March 2021 is the only other period when P2P bitcoin traded volumes nearly surpassed the $38 million mark. Nigerian P2P Growth Unhindered by Central Bank Crypto Restrictions Still, as the data shows, the country’s June volumes surge had been preceded by the marginal drop of traded value to $35.2 million and $34.9 million in the months of April and May....
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The CBN considered Bitt Inc’s experience in the development of the Eastern Caribbean Central Bank’s DCash, launched in April. Barbados-based fintech firm Bitt Inc will be working as the technical partner for the Central Bank of Nigeria for its proposed e-naira digital currency.In a Monday announcement, the Central Bank of Nigeria (CBN) said it had chosen Bitt Inc based on the company’s “technological competence, efficiency, platform security, interoperability and implementation experience.” It also considered the fintech firm’s experience in the development of the Eastern Caribbean Central....
According to new data, peer-to-peer (P2P) bitcoin trade volumes in Kenya and Ghana surged in Q1 of 2021, with the two countries now ranked second and third respectively. On the other hand, volumes in South Africa, which occupied second place in 2020, dropped marginally. Consequently, South Africa has now been relegated to the fourth position the data shows. Contrasting Regulatory Regimes Meanwhile, one report has attributed the surge in Kenya and Ghana’s P2P volumes to the two countries’ tacit endorsement of cryptocurrencies. For instance, the report points to the Central Bank....
Nigeria’s Securities and Exchange Commission (SEC) announced Thursday it has put plans to regulate cryptocurrencies on hold.
Weekly Bitcoin exchange volumes in Nigeria crosses $1.3 million, multiple reasons speculated behind the rise. The demand for Bitcoin has surged skywards in the African nation of Nigeria. The country’s weekly Bitcoin exchange volumes since mid-December 2016 have increased to more than NGN 400 million, which is close to $1.3 million. The increasing demand for cryptocurrency in Nigeria was reported by a leading African tech magazine. The magazine makes use of the available data from LocalBitcoins — a peer to peer Bitcoin marketplace to present its case. The Nigerian cryptocurrency community....
The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks. Godwin Emefiele, governor of Nigeria’s central bank which previously banned banks from servicing crypto exchanges, has reportedly clarified the bank’s position on the use of cryptocurrencies in the country.According to local news outlet TodayNG, Central Bank of Nigeria, or CBN, deputy governor Adamu Lamtek said on behalf of Emefiele that the bank had not banned Nigerian residents from buying, trading, or selling crypto, but “[protected] the banking sector from the....