Speaking exclusively to The PUNCH, Gwadebe said that given the enormity of the forex challenges, the apex bank needed to allow the BDCs play their role in the economy.
In a significant shift that marks the re-entry of Bureaus de Change (BDCs) into the country’s foreign exchange market, the Central Bank of Nigeria (CBN) has unveiled a series of operational changes for the BDCs segment. The announcement, made on August 17, 2023, outlines key measures aimed at streamlining and improving the BDC operations…
GIABA Trains BDC Operators Over Money Laundering, Terrorism Financing thestreetjournal.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreetjournal.org Daily Mail and Mail on Sunday newspapers.
Crypto AM shines its Spotlight on BitcoinPoint.com
Crypto AM: Spotlight
Benoît Marzouk, Founder & CEO of Bitcoin Point
With the largest ATM network in the UK, innovative ‘on-ramp’ solutions to instantly buy and ‘off-ramp’ to sell Bitcoin, BitcoinPoint.com brings cryptos closer to Mass Adoption, with the vision of bringing financial inclusion to the unbanked and the non-tech-savvy.
16,000 ATMs
Bitcoin sales from cash withdrawals have reached an unprecedented scale in the UK, as the Cryptocurrency became widely available at over 16,000 ATM Machines across the UK just before Christmas last year.
The East London-based Cryptocurrency company BitcoinPoint is allowing bitcoin holders to cash out bitcoin at Cashzone ATM machines across the entire UK. This collaboration with Pin4, an innovative solution that enables businesses to deliver cash at the Cashzone network made a convenient access to the Bitcoin market a reality for everyone living in the UK.
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Benoit Marzouk, BitcoinPoint chief executive, said: When we started the service early 2018, there was not enough emphasis on making it easier for people to simply buy £5 of bitcoin. Since registering on a crypto exchange could be a complex process for non-tech savvy people, the scarce availability of bitcoin ATMs made accessibility of bitcoin problematic.
BitcoinPoint s app also allows people to buy and sell bitcoin at a network of agents, from Bureaus de Change to newsagents, as well as online.
Bitcoin had a remarkable rally last week, spurred by rising interest from institutional investors
With Bitcoin holders now able to covert their Bitcoin into cash at ATMs, the potential for a widespread adoption of the cryptocurrency has increased, according to Marzouk.