Search Results for: workers

China Pushes Digital Yuan for Wage Payments in Changshu

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Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the…

Report: Nigeria to Stop Cash Withdrawals From Government Accounts

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From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new regulation will have…

Fintechs Accounted for Over 30% of Tracked Kenyan Tech Startups in 2022 — Study

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As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of the 308 tracked tech startups, a Disrupt Africa study recently found. In addition, the study findings show that the fintech sub-sector alone accounted for 3,100 or 27% of…

Argentine Peso Breaks Historic Low Mark as Argentines Hedge Savings in Dollars

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The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U.S. dollar reached a value of 356 pesos on December 28, losing…

Crypto Community Asks: Where in the World Is Ex-Alameda CEO Sam Trabucco?

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Following FTX co-founder Sam Bankman-Fried’s arrest and the statements from his co-workers Gary Wang and Caroline Ellison, the spotlight has turned on the remaining executives who were part of the team’s inner circle. Another person people are curious about these days…

Chinese Zhejiang Province Aims to Build a $28.7 Billion Metaverse Industry by 2025

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Zhejiang, a coastal province of China, has presented a metaverse development plan that seeks to build a metaverse hub in its territory. The plan aims to entice the creation of a $28.7 billion metaverse industry and construct an ecosystem of several…

Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report

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Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8%…

Report: AAX Users Storm Crypto Exchange’s Nigerian Offices, Attack Employees

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Nigeria users of the crypto exchange AAX, which suspended withdrawals on Nov. 12, reportedly stormed its offices in Lagos and began assaulting employees. Reports that disgruntled AAX users have harassed the crypto exchange’s workers came just days after the Nigerian crypto…

US Lawmakers Introduce Bill Allowing Crypto Investments in 401(k) Retirement Plans

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Several U.S. lawmakers have introduced the Retirement Savings Modernization Act to provide 401(k) retirement savers access to a wide range of investments, including crypto assets. “With inflation at record highs, a stock market downturn, and a potential recession on the horizon,…

Moody’s States Inflation Is Affecting Economic Recovery in Part of Latam

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Moody’s, the asset quality rating agency, has warned the high rate of inflation that some countries are facing in Latam will affect the economic recovery in the region. Brazil, Chile, and Mexico are said to be the countries more affected by…