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The central bank reportedly emphasized that the addition of NFC technology will play a crucial role in boosting the adoption rates for the CBDC. Despite the former governor’s ousting nearly two months ago, the Central Bank of Nigeria (CBN) continues to be committed to its central bank digital currency (CBDC) project, showing no indications of abandoning it. According to a report by local news outlet The Sun, the central bank recently enhanced the CBDC mobile app by incorporating Near Field Communication (NFC) technology. This upgrade enables mobile devices and payment terminals to interact when in close proximity, facilitating convenient and contactless eNaira payments . Despite previous versions incorporating QR codes, the CBN reportedly emphasizes that the latest addition of NFC technology will play a crucial role in boosting the adoption rates for the CBDC. Joseph Angaye, the deputy director of the CBN’s risk management department, reportedly revealed that the banking regulato

Ripple Labs has received in-principle central bank approval in Singapore to begin offering crypto products and services under a regulated banner throughout the city-state. The licensure for its local subsidiary, Ripple Markets APAC, would allow it to scale client’s use of its crypto-enabled On-Demand Liquidity (ODL) service , the San Francisco firm said in a statement. Ripple Labs’ provisional license allows it to start offering payment s service s such as account issuance, cross-border money transfer service s and digital payment token service s while it undergoes further regulatory checks. ODL, which runs on the Ripple distributed ledger, aims to boost efficiency of international transfers by using XRP as an intermediary asset. Company materials suggest it operates across some 40 payment s markets, including France, Sweden and Africa. Ripple Labs reported selling $2.9 billion XRP last quarter to customers for use on its payment s network. It spent $2.6 billion buying the token

NatWest’s head of fraud protection emphasized the importance of self-custody in crypto amid the bank imposing new crypto restrictions. NatWest, a retail and commercial bank in the United Kingdom, is taking measures to protect customers from potential crypto losses amid Bitcoin (BTC) hitting multi-month highs. On March 14, NatWest introduced major restrictions on payments to cryptocurrency exchanges, imposing daily and monthly caps for such transactions. According to an announcement shared with Cointelegraph, NatWest has set a 1,000 British pounds ($1,216) limit for daily transactions involving crypto exchanges. The bank has also imposed a 30-day payment limit of 5,000 GBP ($6,080). The latest restrictions by NatWest aim to help protect customers from losing “life changing sums of money,” the bank said, adding that crypto investments are risky due to a significant amount of scams in the industry. “We have seen an increase in the number of Scams using crypto currency exchange s and we

Wyre was set to be acquired for $1.5 billion by San Francisco e-commerce startup Bolt last year, but the deal was eventually scrapped. Crypto wallet MetaMask is ending support for services of Wyre crypto payment platform amid reports of Wyre planning to shut down operations soon. MetaMask took to Twitter on Jan. 5 to announce that it has removed Wyre from its mobile aggregator, which allows users to buy crypto directly through its digital wallet. “We're currently working on extension removal and appreciate your patience,” MetaMask said, asking users not to use Wyre on the mobile aggregator . According to the announcement, MetaMask still supports a wide number of other payment gateways, including Transak, MoonPay, and Sardine. The services are available on Apple Pay, bank cards and transfers, MetaMask noted. The news comes soon after Wyre CEO Ioannis Giannaros reportedly announced to employees that the firm is going to soon shutdown operations. “We'll continue to do everything