Flutterwave & Token.io team up for UK bank transfers, SiBAN & NITDA promote blockchain in Nigeria, Binance US & Coinbase address SEC concerns: Weekly Crypto Update
Welcome to our weekly news update on the ever-changing world of cryptocurrency. In this edition, we bring you the latest developments and partnerships that are shaping the landscape. Flutterwave’s partnership with Token.io to facilitate bank transfers to the UK, SiBAN and NITDA’s efforts to advance blockchain adoption in Nigeria, and Binance US and Coinbase response to the SEC’s actions are among the highlights..
Flutterwave and Token.io Simplify Bank Transfers
Flutterwave, the leading payments technology company in Africa, has partnered with Token.io, a prominent account-to-account payment infrastructure provider. This collaboration aims to enhance Flutterwave’s platform by integrating Token.io’s pay-by-bank transfer capabilities. As a result, it will facilitate fast and secure transactions between Africa and the UK/EU.
This partnership will give African e-commerce merchants improved access to a broader customer base while enabling Token.io to offer efficient payment methods for businesses on the continent by leveraging Flutterwave’s presence in Africa.
SiBAN and NITDA Foster Blockchain Adoption in Nigeria
SiBAN (Stakeholders in Blockchain Technology Association of Nigeria) and NITDA (National Information Technology Development Agency) recently met to discuss ways to promote blockchain technology adoption in Nigeria.
During the meeting, led by the President of SiBAN, the two organizations explored potential collaborations that could drive the implementation of blockchain policies in the country. The engagement was deemed highly productive, setting the stage for further advancements in Nigeria’s blockchain ecosystem.
Binance US Addresses SEC Concerns
Binance US, a popular cryptocurrency exchange, has taken measures to reassure its users after the SEC’s attempt to freeze its assets. In a statement, Binance confirmed that user assets remain safe and secure. The platform is operating normally, with deposits and withdrawals functioning without disruption.
The SEC recently filed an emergency motion in the US District Court seeking a temporary restraining order against Binance US and its CEO, Changpeng Zhao (CZ), alleging non-compliance with regulatory requirements.
Coinbase Responds to SEC Lawsuit
Coinbase, a leading cryptocurrency exchange, has issued a public response to the recent lawsuit filed by the SEC against the company. CEO Brian Armstrong has expressed confidence in Coinbase’s compliance with regulations and welcomes the opportunity to clarify crypto-related rules through the legal process.
The SEC had accused Coinbase of operating as an unregistered securities exchange broker-dealer and clearinghouse. The lawsuit also highlighted several cryptocurrencies, including Cardano, Solana, Polygon, and Filecoin, as potentially being securities.
