Bitcoin is changing the lives of 211 million Nigerians by beating inflation, disrupting the remittance market, and leading in P2P trading

Nigeria has a population of 211 million people, and only 50% of them have a bank account. The internet penetration in Nigeria stood at 50% in January 2021, and only 10-20% of the entire population use a smartphone.

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Remittance firms hesitant to support BTC despite legal tender law in El Salvador

Remittance firms operating in El Salvador appear reluctant to support Bitcoin despite the country’s new law mandating the crypto asset as legal tender.

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LunarCRUSH Ranks Peter Schiff #2 in Its List of Bitcoin Influencers

Bitcoin is only slightly over a decade old, making it an extremely new and speculative technology in the world of digital finance. This rings true, especially amongst many ‘traditional’ investors skeptical of technology that aims to revolutionize many aspects of finance, trading, and international remittance.

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Kenyans Can Now Buy and Sell Crypto Through Paxful’s P2P Marketplace

Paxful has partnered with Kenya-based remittance network BitLipa to allow users to buy and sell bitcoin and the tether stablecoin.

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Venezuela to Incorporate Bitcoin and Litecoin Wallets into National Remittances Platform

Venezuela says it will incorporate bitcoin and litecoin wallets to its Patria’s Cryptocurrency Remittance Platform. In an update, authorities in the country say this move will enable Venezuelan citizens to formally receive remittances in cryptocurrency form.

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Latin Americans Turn to Bitcoin as Local Fiat Currencies Plunge

Latin Americans have embraced cryptocurrency as a store of value while their fiat currencies depreciate, a new report shows. Bitcoin adoption in the region is further driven by the lack of banking access and remittance needs.

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Gifts and Remittances: Bitcoin.com’s New Tools Allow People to Send BCH via Email

This month Bitcoin. com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin. com’s Roger Ver showcased gifts.

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Bitcoin's high volumes in Africa, despite remittance restrictions, reflect growing popularity

As frustrations towards existing payment solutions in Africa rise, many of its residents have increasingly been turning to cryptocurrency. For instance, according to reports from 2019, 10.7% of all SoThe post Bitcoin's high volumes in Africa, despite remittance restrictions, reflect growing popularity appeared first on AMBCrypto.

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Bitcoin Could Help Mexican Families Save More After Record-Breaking Year in Remittance Industry

Mexico’s central bank has released information that shows the country’s migrant workers sent a record $36 billion to their family and friends in 2019, roughly a $2. 5 billion increase from the year before.

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Bitcoin and Gift Cards Are Powering a Million Dollar Remittance Market in Africa

How Nigeria’s $32.5 Million Plan B Is Taking Shape

The post Bitcoin and Gift Cards Are Powering a Million Dollar Remittance Market in Africa appeared first on Bitcoin Magazine.

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Bitcoin Whale Transfers $468 Million for ‘Low Dollar Fee’

Bitcoin takes a lot of criticism over its ‘unsuitability’ as a payments mechanism but when it comes to low fee transfers the digital-asset is king when compared to the fees charged by traditional remittance houses.

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Philippines: Union Bank Facilitates First Blockchain-Based Remittance 

Union Bank of the Philippines has joined forces with OCBC Bank of Singapore to facilitate a cross-border transfer from Singapore to the Philippines using the Ethereum-powered Adhara liquidity management, and international payments platform its (Unionbank) proprietary i21 platform, reports local news source Fintech Singapore on July 23, 2019.

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French Regulators Set to Approve Bitcoin-Linked Firms

France’s financial watchdog, the Financial Markets Authority (AMF) has announced plans to implement a new set of rules that will govern bitcoin and crypto-based businesses in the region. The regulation is expected to go live later this month, and it takes care of essential pain points like consumer protection, tax remittance and capital requirements, reportsRead MoreRead More.

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PayPal Set to Challenge Blockchain-Based Payments with Xoom

PayPal, the global payments giant, has announced that its Xoom payments and remittance solution will soon go live in the United Kingdom and 31 markets across the world, reports PYMNTS on July 15, 2019.

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Visa and Blockchain Capital Lead $40 Million Round in Anchorage

Payment processor Visa along with specialist VC firm Blockchain Capital helped Anchorage, an institutional custodial service, raise nearly $40 million in capital at an undisclosed valuation. Visa recently launched a cross border remittance network with a pseudo-distributed ledger.

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Telcoin Partners with Leading Vietnamese Mobile Wallet VIMO for International Remittance

The partnership aims to introduce the fastest, most affordable option for the $1 billion Canada-Vietnam remittance corridor. Singapore and Hanoi, Vietnam— Telcoin Pte. Ltd. , a fintech startup leveraging blockchain technology to facilitate high-speed, low-cost international remittances, today announced a partnership with Vimo Technology JSC, operator of leading Vietnamese digital wallet Vimo.

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Texas Bitcoin ATM Maker Coinsource Eyes Stablecoin & Remittances

Texas-based Bitcoin ATM maker Coinsource is adding a stablecoin to the mix. The company is expanding to include the Dai stablecoin in its machines, according to a report in Reuters.   Coinsource is also reportedly gearing up to launch a remittance service, and Dai should shield users from the volatility that’s inherent in the cryptocurrency market.

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Coinsource Adds Dai Stablecoin to Bitcoin ATM in Preparation of Remittance Roll-Out

Coinsource will be updating all of its 230 machines in 29 US states and the District of Columbia in a push to create a remittance system.

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Visa Releases Cross Border Payment Solution for Corporations

Visa has released a B2B Connect network, their enterprise payment solution to process international payments for corporations. Experts see this as a push from Visa to move beyond retail payment processing and enter the global corporate payment remittance market, as reported by Reuters on June 11, 2019.

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Report: Retail Banks Still Wary of Blockchain Technology

While distributed ledger technology (DLT) is fast gaining traction in several sectors of the global economy including investment banking, remittance, payments, and others, a new report by McKinsey & Co has revealed that the retail banking ecosystem have been slower to integrate the technology due to regulatory challenges and other bottlenecks, reports Bloomberg on JuneRead MoreRead More.

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Bitcoin Expert: Facebook’s GlobalCoin Will Annihilate Ripple

  By CCN: Ripple (XRP) and most other cryptocurrencies should be looking over their shoulders now that Facebook has announced it is launching GlobalCoin (or Libra), according to Bitcoin expert Max Keiser.

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SendFriend confirms remittance service to the Philippines, Charles Hoskinson on Cardano’s future and more

Crypto News – 07 June – SendFriend confirms remittance service to the Philippines, Charles Hoskinson on Cardano’s future and more Don’t forget to follow us for our daily videos#Cardano #xRapid #cryptonews #Tron #ADA #cryptocurrency pic.

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Anypay and Cointext Launch BCH-Powered Remittance Solution for Merchants

On June 3, crypto startups Anypay and Cointext debuted a global remittance application for independent merchants. The new payment solution utilizes bitcoin cash (BCH) and allows anyone from anywhere to send funds faster and cheaper than traditional remittance platforms.

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Remittance: Ripple XRP’s $600 Billion Disruption

The bullish rally for bitcoin and other top cryptocurrencies is teetering on the edge, with the markets swaying to decide their next direction. XRP spiked briefly, following BTC’s short-lived run above $9000.

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Bitcoin Beats XRP At Global Remittances, Says New Report

Bitcoin (BTC) will always be a better solution for cross-border payments than XRP, according to the head of a Hong Kong-based remittance company. George Harrap, CEO of Bitspark, says that bitcoin has a clear edge because it is already globally accepted and has sufficient liquidity for established remittance companies.

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Ripple Facilitates Payment Remittances From India to Saudi Arabia

Indian commercial bank IndusInd has tied up with Saudi Arabian British Bank (SABB) through their partnership with Ripple. The payment remittance corridor between the two countries is powered through xRapid and xCurrent, as both banks adopted both networks, as revealed by Ripple, May 20, 2019.

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Ripple’s XRP II in fresh controversy after NYDFS denies FOIL requesting affiliate sales, discount policies

Ripple has been consistently expanding its horizon in the cross-border remittance field. Its cryptocurrency, XRP, also registered an extended slump in a rather bullish market, over much of the past few months.

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XRP v. Stellar Lumens [XLM] Price Analysis: Stagnant market with minimum gains imminent

The collective cryptocurrency market underwent a bearish move yesterday after a few days in green pastures. Bitcoin momentarily fell on May 6, pulling down the price of almost all altcoins, including XRP and Stellar Lumens.

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Op Ed: We Just Launched the First Cryptocurrency-to-Tax Payment Partnership

Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality.

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Crypto-Based Transfers Can Cut Remittance Costs in Africa by 90%

Remittances have become a lifeline for many people in Sub-Saharan Africa, but the cost of sending money via banks and money transfer operators remains punitively high. On average, it costs 9.3% (of value transferred) to send the equivalent of $200 to the region, the highest remittance rates anywhere on the planet, according to the new […] The post Crypto-Based Transfers Can Cut Remittance Costs in Africa by 90% appeared first on Bitcoin News.

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XRP and Ripple Could Offer Blockchain-Based Financial Solutions to the Unbanked

Bitcoin (BTC) is the most popular digital currency and it has reached a large part of the population. However, XRP is the third largest digital asset and it has a lot to offer to those unbanked around the world.

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Ripple’s blockchain is the solution for remittance issues in South East Asia, top Siam Commercial Bank official

Ripple and XRP have been performing adequately to maintain the community’s spirit, even though it couldn’t emulate the run made by Bitcoin earlier this month. Ripple has been spreading its wings across the globe with its innovative software and other technologies.

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President Trump’s Proposed Remittance Tax is Pushing Bitcoin Adoption

President Donald Trump’s proposed remittance tax, which would levy additional fees on money being sent outside of the United States in an effort to curb immigration, could have the end effect of driving cryptocurrency adoption.

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Mexico Sets New Bitcoin Volume Record After Trump’s Remittance Threat

Bitcoin price remaining above $5000 resulted in new trading highs for several countries worldwide last week, the latest data shows. Mexico, Venezuela Post Record Localbitcoins Volumes According to monitoring resource Coin Dance, which tracks trading volumes on peer-to-peer exchange platforms Localbitcoins, Paxful and Bisq, certain markets continued to see spikes in Bitcoin activity.

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U.S. Reps Tell IRS to Publish New Crypto Tax Guidelines

Since it has now become mandatory for digital assets traders to remit taxes, 21 members of the United States Congress, led by congressman Thomas Earl Emmer, have jointly sent a  bipartisan letter to the United States Internal Revenue Service (IRS) urging it to publish new guidelines on crypto tax remittance, according to a press releaseRead MoreRead More.

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Why Trump’s Clampdown on Remittances Will Force Mexicans to Bitcoin

The US White House is reportedly planning to target remittance payments made by illegal Mexican immigrants in an attempt to curb the inflow of illegal arrivals through the southern border. If passed, those changes may cause immigrants in the US to turn to alternatives, such as Bitcoin.

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XRP/USD and Stellar Lumens [XLM/USD] Price Analysis: Sideways movement continues as bears trap bulls

The cryptocurrency market’s rollercoaster movement resumed again, with coin prices becoming more and more volatile. Cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] enjoyed a decent bullish run last week.

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Western Union Partners With Crypto Wallet for Cross-Border Transfers

Crypto wallet provider Coins. ph has partnered with U. S. financial service company Western Union to enhance cross-border transfers to the Philippines. The partnership will grant over 5 million Coins.

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Coinbase allows remittance using cryptos such as XRP, Bitcoin [BTC] and USD Coin, says CEO Brian Armstrong

Brian Armstrong, CEO and Co-founder of Coinbase, spoke about the use of XRP and USDT for Coinbase international transfers, during an Ask-Me-Anything [AMA] session on YouTube. Sweden Fork, a Twitter user, asked Armstrong the reason behind Coinbase choosing XRP and USD Coin [USDC] for Coinbase international transfers, over Bitcoin [BTC], the largest cryptocurrency by market […] The post Coinbase allows remittance using cryptos such as XRP, Bitcoin [BTC] and USD Coin, says CEO Brian Armstrong appeared first on AMBCrypto.

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Maduro Targets Bitcoin Remittances To Profit Off The Country’s Blooming Crypto Ecosystem

Maduro Targets Bitcoin Remittance To Profit Off The Country’s Blooming Crypto Ecosystem Venezuela has been in chaos recently, triggering one of the biggest humanitarian crisis in the world. A decade of economic mismanagement has left the formerly prosperous nation starving, lacking basic necessities like food and medicine.

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Venezuela: Maduro Administration Targets Bitcoin Remittance

The Venezuela government is reportedly making a move towards collecting fees on Bitcoin remittance payments in the country. This step comes as the cash-strapped Maduro administration continues to seek ways to finance itself in the wake of mounting economic restrictions.

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Op Ed: Hanging Money Launderers Out to Dry: The Role of KYC/AML in Blockchain

Crime isn’t supposed to pay, but sometimes the wages of sin are paid in bitcoin. Last week, Japanese police reported that 2018 saw a tenfold increase of cryptocurrency money laundering.

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Why Bitcoin Transaction Fat-Fingers Roll Back Progress

By design, blockchain based remittance fees are super cheap and Bitcoin’s is no exemption. Top priority transfers will offset a user 28 cents per transaction and therefore when one pays outrageous fees for small, ordinary transactions, the legitimacy of Bitcoin is called to question.

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Pomp Says Bitcoin is Better for Remittances, Prompts Ran NeuNer to Say XRP is Faster and Cheaper than Bitcoin

In a recent tweet uploaded by Ran NeuNer, he says that XRP is faster and cheaper than Bitcoin (BTC). The comments come after Anthony Pompliano, a recognized Bitcoin supporter and co-founder of Morgan Creek Digital, said that Bitcoin is cheaper and faster than most popular remittance platforms. Ran NeuNer Supports The XRP Community There has […]

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Tipping Point Receives $1 Million Grant From Ripple to Fight Poverty in San Francisco Bay Area

Ripple, a U. S. -based remittance network built on a distributed open source protocol, announced on March 7 that it is partnering with the non-profit organization Tipping Point through a $1 million grant aimed at alleviating poverty in the San Francisco Bay Area.

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Litecoin (LTC) Explodes, Is this the “Venezuelan Effect”?

Litecoin price surge, up 14. 8 percent Venezuela approves Bitcoin and Litecoin as remittance agents Volumes explode as Litecoin (LTC) likely to close above $50 It is only through Remesas, which has the support of the Venezuelan government and under its regulators, that users can send funds using Bitcoin and Litecoin.

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Venezuelan Government Launches Crypto Remittance Service

The government of Venezuela has begun offering a cryptocurrency remittance service. Remittances can be sent using two types of cryptocurrency. The service was launched by the Superintendency of Cryptoassets and Related Activities, the country’s main crypto regulator, which has also set a monthly limit and a commission per transaction.

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BitMart and Paxful Team Up to Generate Crypto Liquidity

On February 21, 2019, peer-to-peer bitcoin marketplace Paxful announced a partnership with trading platform BitMart for the purpose of vastly increasing the latter’s liquidity and scalability.

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How to Use Cryptocurrency to Send Money Abroad

The global remittance industry is huge. World Bank data shows that over $148 billion was sent abroad from the U. S. alone in 2017.  As people leave nations gripped by hyperinflation, or simply move to look for better opportunities abroad, sending cash back home becomes a necessity.

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