2/11/2021 0 Comments
Trading with Bitcoin has gained traction globally and in Nigeria lately; and most young people have been investing in the cryptocurrency world, buying and selling bitcoin and altcoins making profit for themselves.
But the apex bank is clearly not a fan of crypto currencies.
In a statement signed by Bello Hassan, Director of Banking Supervision; and Musa Jimoh, Director of Payments System Management Department, the CBN said:
"Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in crypto currencies or facilitating payments for cryptocurrency exchange is prohibited.”
After partnering with over 30 various Altcoins and Bitcoin platforms in recent years, Visa has joined the bitcoin and cryptocurrency community, now buying and trading services with a Visa crypto software program, will be launch later this year.
U.S. Dollar Coin (USDC), the $6 billion stablecoin produced by Circle Internet Financial on the Ethereum blockchain and backed by cryptocurrency exchange Coinbase, has launched on the Stellar blockchain.
USDC, developed on the Ethereum blockchain, has seen its market capitalization increase over ten-fold over the last 12 months and now has almost $6 billion USDC in circulation.Stablecoins, usually pegged to fiat currencies or real-world assets, are cryptocurrencies designed to ease global payments without the volatility that’s often associated with the
likes of bitcoin.
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