カテゴリー: Rand

South African Officials Create Regulatory Working Group Dedicated to Cryptocurrencies

South African Officials Create Regulatory Working Group for CryptocurrenciesThe Minister of Finance of South Africa, Tito Mboweni, explained in a letter on Jan. 2 that the region’s government has created a regulatory working group dedicated to cryptocurrencies. According to Mboweni, the working group includes representatives from multiple South African agencies and aims to produce a comprehensive regulatory response to the growing digital asset […]

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Survey: South Africans Turning to Crypto as Hedge Against Volatility of the Rand

Survey: South Africans Turning to Crypto as Hedge Against Volatility of the RandA survey by Luno, a London-based cryptocurrency platform, has revealed that a growing number of people in South Africa prefer holding cryptocurrencies such as bitcoin and bitcoin cash rather than the local fiat unit, the rand. About 70 percent of South Africans have heard about virtual currencies, and most people have been using them as […]

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US Dollar Losing Dominance as a Means for Settling Transactions in Africa

US Dollar Loses Dominance As A Means For Settling Transactions In AfricaThe dominance of the United States dollar as a settlement currency in Africa is being challenged by emerging payment methods in financial technology and by native African fiat currencies. In the four years to 2017, fewer people in the continent of 1.2 billion transacted via the US dollar than they did with their local currencies […]

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Africa and its Antiquated Banking: Cryptocurrencies The Solution?

Africa and its Antiquated Banking: Cryptocurrencies The Solution?Africa has steadily accelerated the switch to modern technologies. But can a continent facing a crisis with antiquated banking technologies, low rate of financial inclusion, poor confidence in the banking system, and high remittance costs become the new battleground for blockchain or cryptocurrency-centred settlements? Also read: Square’s Big Week: Crypto Patent, Shares Leap, and Lightning […]

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