Peer-to-peer Bitcoin (BTC) volume in Nigeria continues to rise as Africa’s largest economy remains a bastion for crypto adoption. According to Quartz Africa, data from the Bitcoin P2P marketplace Paxful show the country ranks second only to the United States in trading volume. Since 2015, Nigerians have traded over 60,200 BTC on the Paxful platform amounting to about $566 million in volume over the period. Data from Coin Dance shows trading activity for the week ending Dec. 12 at 886.3 million naira (about $2.3 million). Bitcoin’s growing appeal among Nigerians is likely due to a confluence of factors, chief of …

Ripple Labs has sold a huge chunk of its 2019 investment in MoneyGram. Per a Friday night filing with the Securities and Exchange Commission on Friday night, from Nov. 27 through Dec. 4, Ripple Labs managed to sell 2,264,113 shares of MoneyGram (MGI). The tech firm netted a total of $15,303,792.60 from the sales. MoneyGram's stock value has soared in recent months, from $2.94 on Oct. 1 to $8.53 on Nov. 23. In no small part thanks to news of Ripple's sell-off, MGI has slipped back down to $6.54 as of publication. Despite a flurry of announcements of expanding integration …

How can you easily, securely store and exchange cryptocurrencies? By using a platform that has a carefully cultivated reputation for keeping digital assets safe. Crypto platforms are emerging that aim to make cross-border payments far less expensive than what many of us are accustomed to. One of them is Changelly PRO. The company firmly believes that cryptocurrencies offer far greater levels of transparency than traditional financial institutions, and this will help instill confidence among consumers. Dozens of trading pairs are offered across the world’s biggest digital assets. The platform is aiming to level the playing field by offering zero deposit …

Cubans are finding new ways to circumvent the embargo sanctions imposed by the U.S. government back in 1962. According to an October 26 report by Cuba's AFP news agency, remittances sent from the U.S. to Cuba often pass through a clandestine network of "crypto enthusiasts" before being converted into Cuban pesos. Erich García, a 33-year-old programmer and local YouTuber, told AFP that anyone who wants to send remittances to the island must buy Bitcoin and send it through a Cuban crypto exchange called BitRemesas. Crypto users on the island then bid to offer recipients the best price for their coins …

A fintech company says it is determined to offer decentralized finance services that are “regulated, responsible, trustworthy and innovative.” Nexxo’s focus is to offer commercial banking services and to support under-serviced small businesses that are not big enough to secure finance from traditional banks. Research cited by the company also suggests that more than 260 million small businesses are struggling to access commercial banking services and financial support that can help their ventures flourish and grow. According to the network, 44% of small businesses are denied credit because they don’t have any collateral assets. A further 19% are turned down …

A recent study showed that Latin America represents 7% of the entire global cryptocurrency economy. Out of that segment, Mexico has captured almost 11% of all retail crypto payments since July 2019. El Economista cited research by Daniel Cartolin, a development representative from the blockchain analytics firm Chainalysis, which showed that the region has received $24 million in retail crypto transactions and sent $25 million to other continents over the past year. The representative highlighted that remittances and trade are sectors with a major presence in retail crypto transactions within Latin America. The country's strong ties with both North America …

Global money transfer platform MoneyGram recently unveiled year-over-year growth numbers, showing double the number of transactions seen in May 2019. MoneyGram ended Q1 2020 with 57% growth in digital transactions, a June 9 statement from the company said. The firm saw activity ramp up another 43% by May's end. MoneyGram's partnership with Ripple Blockchain-based money-transfer company Ripple entered a deal with MoneyGram in June 2019, investing $50 million into the MoneyGram's platform. The partnership saw the digital money transfer platform able to harness Ripple's xRapid technology. In February 2020, calling on Visa's technology, MoneyGram unveiled real-time money transfers. Ripple reportedly …

Over the past few months, India’s cryptocurrency market has continued to be in a constant state of flux. From crypto bans imposed by the country’s central bank to a historic ruling by its Supreme Court to lift that ban, for most onlookers it appears that India’s crypto market has experienced a rebirth. A recent industry report put together by exchange OKEx and research platform Coinpaprika indicates that the crypto space in India is set to soar to greater heights, especially because the country leads the globe in terms of remittances, not to mention that it has a national fiat currency …

A recent report highlights that India’s growing demand for cryptocurrencies is driven by the need for lower remittance fees and a more stable currency to store value. The cryptocurrency spot and derivative exchange OKEx in collaboration with Coinpaprika studied the Indian cryptocurrency markets and estimated that the global share of cryptocurrency transactions in India will increase significantly in the next two years. Moving to a less expensive payment system There are over 17 million Indians working beyond the borders who sent more than $80 billion back home in 2018. They paid as much as $5.67 billion as transaction fees to …

The U.S. Consumer Financial Protection Bureau (CFPB) has recognized the role of Ripple and XRP in cross-border transfers, a recent rule on remittance transfers shows. According to the May 11 paper, the CFPB — a bureau tasked with protecting U.S. consumers in the financial sector — has been researching new trends on the remittance market. Among one of those developments is “the continued growth and expanding partnerships” of digital asset companies like Ripple, the agency noted. The CFPB also highlighted that XRP can be used to effect settlement of cross-border money transfers, adding that the company’s suite of products could …

This week’s headlines from Japan included Mitsui & Co. Digital Asset Management kicking off its security token project, Coincheck's fiat exchange listing seven altcoins, FXCoin unveiling physical crypto trading and XRP remittance testing plans, and GMO Coin listing three more altcoins. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Security token company tests security tokens in real estate Looking to create blockchain-based security tokens, Mitsui & Co. Digital Asset Management, daughter of Japanese product and material trading giant, Mitsui & Co., recently kicked off an initiative called the "Digital Securities Project." As part …

Digital identity solutions are on the rise as consumers seek security and accessibility in a digitized world. A new report from 360iResearch shows that the global digital identity market is expected to have reached about $37 Million by the end of 2025. As COVID-19 continues to wreak havoc, this number could grow even larger. Unsurprisingly, the trillion-dollar banking industry has already expressed interest in digital identity solutions. For example, Everest, a blockchain-based digital payments provider, has recently formed a partnership with BRI Remittance, a subsidiary of one of Indonesia’s largest banks. Everest has been collaborating with BRI to offer bank …