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BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says

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The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial system. This system could mitigate dependency on Western institutions, especially amid sanctions and Russia’s SWIFT disconnection. BRICS Moves Forward With Digital Payment Platform Initiative The … Read more

Ripple Teams Up with Onafriq To Alter African Remittance

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Ripple, a pioneer in blockchain-based payment solutions, has produced a significant partnership with Onafriq, a fintech company, with a vision to establish novel remittance corridors among Africa and key regions such as the Gulf Cooperation Council (GCC), the Unified Kingdom, and Australia. Leveraging Ripple’s innovative payment technology, this joint effort sets out to address normal … Read more

Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements

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Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank ‘Actively Working’ With Turkey on New Payment Gateways The … Read more

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

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According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their trade on the dollar?” Brazil’s President Wants to Reduce the … Read more

Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing

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On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s … Read more

Crypto Dominates as Payment Method for Remote Workers in Latam

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Most remote workers in Latam prefer to get paid in crypto, according to the latest report from the Deel Lab for Global Employment. The reasons behind the finding are said to be diverse, but include the instability of some of the local fiat currencies, and the influence of high levels of inflation in the region. … Read more

Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital

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On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S. bankruptcy court. The complaint alleges the defendants received preferential transfers of property from Alameda Research and the plaintiffs are seeking to recover approximately $445.8 million from Voyager and HTC. Legal Battle Erupts Over Crypto Asset … Read more