Nigeria to Ban Person-to-Person Cryptocurrency Trading in Naira

Nigeria is set to ban person-to-person cryptocurrency trading in the naira to regulate the industry and protect its local currency. The SEC will introduce new regulations for crypto exchanges and digital asset custodians. This crackdown follows the recent ban on Binance Holdings Ltd. in Nigeria, with two executives arrested. Nigeria’s actions reflect a broader trend in Africa of using cryptocurrencies as a hedge against currency devaluation. The upcoming regulations aim to provide clarity and oversight in the rapidly evolving crypto sector.

Barclays Analysts Predict Block Inc. May Join S&P 500 Index

Barclays analysts predict that Block Inc., led by Jack Dorsey, may be the next addition to the S&P 500 index. With a solid performance in the first quarter of 2024, including a positive net income of $472 million, SQ stock is seen as a strong contender for inclusion in the index. All eyes are on Block Inc. as the financial world eagerly awaits the S&P 500’s June 7th rebalance.

Nigerian fintech startup, Zone, secures $8.5 million seed funding for blockchain-powered payment infrastructure expansion

Nigerian fintech startup, Zone, secures $8.5 million seed funding to expand its blockchain-powered payment infrastructure. With backing from leading investors, including TLcom Capital and Flourish Ventures, Zone aims to revolutionize payment transactions in Africa and beyond, leveraging its position as the continent’s first regulated blockchain network for payments.

Nominations Open for UF AWARDS LATAM 2024

The UF AWARDS LATAM 2024 are set to recognize excellence and top-performing brands in the Latin American (LATAM) region, providing an unparalleled opportunity for brands to establish themselves as industry leaders. Nominations are now open, offering a chance for brands to gain recognition, showcase innovation, and demonstrate their significant contributions to the online trading and fintech space. Important dates surrounding the awards include the nomination round until March 25 and a voting round from March 27 to April 3, allowing registered users to participate in determining the industry’s elite.

Colombian Fintech Startup Bold Secures $50M in Series C Funding

Colombian fintech startup, Bold, secures $50M Series C funding round led by General Atlantic and other investors. The funding will be used for product development and expansion within Colombia. Bold specializes in low-cost payment terminals and recently obtained a financial institution license to offer businesses a bank account. Managing Director at General Atlantic, Luiz Ribeiro, expresses confidence in Bold’s potential. Established in 2019, Bold serves over 150,000 merchants monthly.

Indian Startup Investors Of 2023

Despite a decline in funding for Indian startups in 2023, investors continue to show faith in the ecosystem. The article explores the challenges faced by startups, the optimism for the future, and highlights the top startup investors of 2023.