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Circle's 2024 USDC Economy Report Reveals Significant Growth in Stablecoin Adoption
Circle's 2024 report on the USDC economy highlights significant growth in stablecoin adoption and usage, with a 59% increase in USDC wallets and over $12 trillion settled in blockchain transactions since its inception.
Block's AUD$3M Investment Boosts Indigenous Business Sector in Australia
Block Inc. invests AUD$3 million in First Australians Capital's new fund, supporting Indigenous businesses in Australia, aiming to empower entrepreneurs, foster economic growth, and create community wealth.
Ripple and Onafriq Forge Alliance for Blockchain-Enabled Payments in Africa
Ripple and Onafriq are collaborating to introduce blockchain-powered cross-border payments, aiming to improve transaction efficiency and financial inclusion in Africa, the GCC, the UK, and Australia.
IMF Emphasizes Digitalization in Financial Inclusion Agenda
IMF Managing Director Kristalina Georgieva emphasizes the role of digitalization in expanding financial inclusion. She calls for a balanced approach that includes regulation to ensure financial stability. The IMF has also been active in digital finance, recently presenting a crypto-risk assessment tool.
Global Microfinance Market Projected to Reach $506 Billion by 2030
The global microfinance market, valued at $200 billion in 2022, is expected to grow to $506 billion by 2030, according to a new report by ResearchAndMarkets.com. The market is set to expand at a CAGR of 12.3% from 2022 to 2030. Microenterprises are identified as a vital growth driver for Microfinance Institutions (MFIs). The report also highlights the role of emerging technologies like AI and blockchain in shaping the industry.
BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030
The Bank for International Settlements (BIS) has released a survey revealing that 93% of central banks are now engaged in some form of Central Bank Digital Currency (CBDC) work, with retail CBDCs taking the lead over wholesale CBDCs.
Shapella Upgrade, Privacy Concerns, Hacks, and Financial Inclusion
The DeFi space had a busy week with the successful completion of the Shapella upgrade on Ethereum, concerns over privacy related to staking, a major DeFi hack, and a partnership between Fonbnk and Tanda to increase financial inclusion in Africa. The top 100 DeFi tokens had a bullish week, and Glassnode predicted only a small percentage of staked ETH would be withdrawn.
Fonbnk and Tanda Partner to Launch Airtime Trading Marketplace in East Africa
Fonbnk and Tanda have partnered to launch an airtime trading marketplace in East Africa, allowing micro-entrepreneurs to earn revenue and store their profits in dollarized stablecoins. The partnership increases liquidity in the marketplace through the buying and selling of prepaid airtime for profit, providing more earning opportunities and creating a growth flywheel effect through improved liquidity and marketplace efficiency.
BlackRock CEO Highlights Digital Assets and Tokenization
Larry Fink's annual letter to BlackRock highlights the potential of digital assets and tokenization, citing advancements in digital payment solutions for financial inclusion in emerging markets.
Fasset to Drive Financial Inclusion in Indonesia with Mastercard
Digital assets-based fintech startup Fasset Technologies has partnered with payments giant Mastercard to drive financial inclusion in Indonesia.