Lebanese people turn to crypto, decentralization as banks close down indefinitely

2022-9-22 12:00

The Association of Banks in Lebanon (ABL) announced an indefinite closure of all banks in the country on September 22, as depositors are becoming aggressive about withdrawing their funds. The post Lebanese people turn to crypto, decentralization as banks close down indefinitely appeared first on CryptoSlate.

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Lebanon Central Bank to Introduce Digital Currency In 2021

The Lebanese Central Bank plans to introduce a central bank digital currency by 2021 in a bid to restore confidence in the banking sector and move the economy to a cashless system. Major Development In a public announcement, the governor of the Lebanese central bank, Raid Salameh encouraged banks to plan on how to restructureRead MoreRead More.

2020-11-12 14:00
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Banks Targeted as Lebanese Protests Turn Violent amid Currency Slide

An individual has been killed during violent standoffs between protesters and the Lebanese army. The uprising is the latest development in the anti-government protests that have been on and off since last year.

2020-4-29 09:12
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Lebanese Turn to Bitcoin During Economic Crisis

Bitcoin has seen a massive rise in popularity among the Lebanese this year, especially after the country’s banks imposed rigid capital controls to contain economic fallout. Trust in Lebanese Banks...The post Lebanese Turn to Bitcoin During Economic Crisis appeared first on Crypto Briefing.

2020-2-26 01:14	Business
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Lebanese People Turn To Bitcoin As Faith In Local Banks Erodes

Just a few centuries ago, governments bowed to the people’s pressure to separate religion from the state. However, there are still areas of importance that still trouble people because governments are still involved.

2020-2-26 23:36
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Bitcoin Highlighted as Lebanese Banks on Brink of Insolvency

With the global health of banks not in a good space thanks to a potential financial crisis looming, some countries have essentially thrown in the towel sending their economies into a tailspin. Lebanon is one such country that is facing a banking crisis that is not only damaging its economy but also looks as if […] The post Bitcoin Highlighted as Lebanese Banks on Brink of Insolvency appeared first on BeInCrypto.

2020-1-28 09:18
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Lebanon Banks in a Panic, Bitcoin Could Serve as Rescue

Lebanon’s banking system has been in shambles for quite some time, with closures across the country. Now, the banks are ready to reopen, but they are opening with a caveat. Without calling it Capital Controls, Lebanese banks have set a withdrawal limit of $1,000 a week for accounts denominated in foreign currency.

2019-11-19 02:34	News
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Lebanese Protestors Gather at Central Bank as Financial Lockout Continues

Since the beginning of widespread protests in Lebanon last week, banks and lending institutions have remained closed, fueling fears of an impending nationwide cash crisis. Attempts to assuage the concerns of suffering individuals without money or options are not proving effective, as officials scramble to address the situation against a backdrop of alleged political embezzlement […] The post Lebanese Protestors Gather at Central Bank as Financial Lockout Continues appeared first on Bitcoin News.

2019-10-25 05:45
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Bitcoin’s Edge Over Fiat Underscored by Lebanon’s Empty ATMs

Lingering political unrest rendered millions of Lebanese nationals unable to access their own money deposited with banks for the seventh consecutive day on Wednesday, highlighting once again how Bitcoin can serve as an alternative financial system.

2019-10-24 07:24	WhatsApp
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Bitcoin Potential Highlighted by Six Days of Lebanese Bank Closures

Banks in Lebanon have remained closed for the sixth consecutive day today. The restriction of access to banking facilities serves as yet another reminder of the power financial institutions can wield over a population and the importance of Bitcoin as a potential check to that power.

2019-10-22 21:51	#twitter
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Singapore's DBS Bank Starts New Suite of Tokenized Banking Services for Institutional Clients

The Singaporean banking giant wants to help clients optimize liquidity management and streamline operational workflows.

Colombian bank Littio, OpenTrade launch USD accounts on Avalanche

Littio, a Colombian Neobank, has partnered with OpenTrade to provide interest-bearing USD accounts to local customers on the Avalanche blockchain. According to a press release shared with crypto.

Customers Bank Said to Debank Some Digital Asset Hedge Funds

The move is not a widespread debanking of hedge-fund clients, but rather the offboarding of inactive accounts, one person said.

Crypto Wallet SafePal Ventures Into Banking With New USDC Visa Card

Users can create individually owned and compliant bank accounts and use USDC stablecoins as the default deposit currency.

Revolut to Introduce Crypto Exchange Targeting 'Advanced Traders'

Digital bank Revolut is set to release a cryptocurrency exchange targeting "advanced traders," according to an email sent to customers that was seen by CoinDesk.