Ripple Donates $10M to Mercy Corps for Increasing Financial Inclusion

Ripple continues its effort to bring financial inclusion to struggling markets. Ripple announced a contribution of $10 million to Mercy Corps to help it use digital assets in its work on financial inclusion in emerging markets during the annual Swell conference.Mercy Corps is a non-governmental, humanitarian aid organization that aims to create economic opportunities in countries where the financial system isn’t operating properly. The organization claims to have assisted over 220 million people survive various humanitarian conflicts. According to an announcement, Mercy Corps will partner....

Bitstamp has announced the inclusion of Ripple crypto-asset to its exchange offering across the EU. Bitstamp, one of the leading cryptocurrency exchange platform has started supporting Ripple. By including Ripple, the platform now supports two different cryptocurrencies. The growing popularity of Bitcoin led to the creation of hundreds of altcoins. Among those, only a handful of them are quite popular and have a decent user base. Ripple is one of those popular altcoins, currently holding the third position in terms of market capitalization. Bitstamp announced the inclusion of new....

A Cameroonian fintech start-up, Ejara, has raised $2 million to pioneer the usage of crypto and investment services in French-speaking African countries. Coinshares Ventures and Anthemis Group led the funding round in which they were joined by Mercy Corps Ventures, Lateral Capital, Lofty Inc Capital, and Netx Fund. Using Crypto to Protect Savings in Francophone Africa According to a report, the start-up, which was founded by Cameroonian Nelly Chatue-Diop, wants to “level this playing field for the average French-speaking African so they can invest as little as $9 (CFA5,000).”....

It is not surprising most of the countries seeing success in the financial inclusion department are busy areas for Bitcoin as well. Financial inclusion is not a topic most developing countries in the world can deal with right now. In some regions, very few people have convenient access to a bank account. However, thanks to the boom in mobile smart devices, financial inclusion becomes easier to achieve. In fact, the countries focusing on these efforts are also seeing a significant Bitcoin growth as of late. Financial Inclusion Matters To Many Countries. According to the statistics outlined....

The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the widespread adoption of stablecoins claiming they “may generate risks to financial stability, particularly if they are adopted at a significant scale.” The AML/CFT Argument In a report, the FSB says....