Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Uncategorized

Africa’s central banks reject cryptocurrencies

Published

on

Some of Africa’s central bankers aren’t banking on crypto saying it is a financial instability

Bankers in Nigeria and Kenya say the digital currencies are volatile to become an acceptable payment method.

Reports suggest a central bank coin has a better chance of narrowing the financial exclusion gap.

Nigeria has even launched its own digital currency a first by an African central bank.

The coin has been met with some scepticism from industry experts and users.

It’s understood Kenya could follow suit with its own digital currency to bring down payment and cross-border transaction costs.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Trending Now