MoneyGram admits ‘cybersecurity issue’ behind dayslong outage
MoneyGram’s services have been offline since Sept. 20, with the firm confirming the outage is due to a cybersecurity incident three days later. Go to Source
remittances
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Central Reserve Bank: Only 1.1% of Remittances Involve Cryptocurrency in El Salvador
The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. Report: Adoption for Remittances Reach Only … Read more
Lightning Network-Focused Startup Lightspark Sets Its Sights on Latam
Lightspark hopes to enter Latin America’s cryptocurrency market through its partners in the region, including exchanges like Bitso and fintech institutions like Nubank. Nicolas Cabrera, Lightspark’s vice president of product, explained that the company will focus on targeting Latin America’s remittances and cross-border payments market, using its products to streamline these processes. Lightspark Aims to … Read more
Stables Money onboards Coins.ph’s Philippine peso stablecoin
Stables Money already has a chunk of the $35 billion Philippine remittance market and will upgrade service with the new stablecoin. Go to Source
Zimbabwe Central Bank Denies Forced Remittance Conversion Claims
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in … Read more
Canza Finance Partners With Stablecoin Issuer to Bring Efficient Financial Solutions to Africa
Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets. With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD stablecoin. Boosting RWA and Defi Adoption Africa-focused fintech firm Canza … Read more
Crypto is democratizing investment banking options—Lightspark founder
Cryptocurrencies will challenge the current banking hegemony layer-by-layer, the speakers noted at the 2024 Bitcoin event in Nashville. Go to Source
Caliza Raises $8.5 Million to Ease Cross Border Payments Using USDC in Latam
Caliza, a fintech company headquartered in the U.S. but focused on Latam, has raised $8.5 million in a funding round led by Initialized, seeking to expand the reach of its foothold in Brazil. The company offers B2B solutions focusing on USDC, Circle’s regulated stablecoin, providing rails for easing cross-border payments for its customers. Caliza Raises … Read more
Bitso Integrates Lightspark for Bitcoin Lightning Network
Bitso, a leading Latin American cryptocurrency platform, has announced its partnership with Lightspark to incorporate the Bitcoin Lightning Network into its services. This integration aims to enhance the speed and affordability of bitcoin transactions for Bitso’s users. Bitso Adds Lightning Support via Lightspark The integration of Lightspark Connect will allow Bitso‘s 8 million retail customers … Read more
Latam Insights: Bukele Goes Chavez Mode Against High Prices, Paraguay Strengthens Power Theft Penalties For Crypto Mining
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Nayib Bukele starts combating price gouging practices in El Salvador a la Chavez, Paraguay enacts penalties of up to 10 years of jail time for power theft linked to crypto mining activities, … Read more
