IMF warns that unregulated cryptocurrencies could threaten financial stability
The IMF has previously shown its disapproval of cryptocurrencies and other digital assets and has called for their regulation and control.
CBDC
Central Bank of Nigeria upgrades eNaira with NFC feature
A deputy director with the bank said the CBN has introduced Near Field Communication (NFC) technology to enable contactless payments with the eNaira.
BIS highlights cybersecurity risks, proffers framework for ‘secure’ CBDC systems
BIS says a security breach in a CBDC system could erode public confidence and trust in the digital currency infrastructure and the central bank involved while leading to a ripple effect of damage.
Ripple Labs exploring real-world use cases of CBDCs and stablecoins
The company has proposed a system to tokenize real estate assets and use them as collateral for loans.
25 of 130 countries exploring CBDCs are in Africa — Report
Nigeria is still the only country in Africa to have launched a CBDC while others are cautiously progressing.
The eNaira can now be used for remittances — CBN
The move is aimed at driving adoption and providing an alternative for Nigerians to receive remittances.
Tokenization is promising but decentralized cryptos are flawed — BIS
According to the BIS, cryptocurrencies do not have the same level of trust as regular money issued by central banks.