Blockchain Press Releases
Nagad ignites SDGs thru’ digital financial inclusion in Bangladesh
DHAKA, Bangladesh, July 14, 2023 /PRNewswire/ — Nagad, the world’s fastest-growing mobile money carrier based in Bangladesh, has been instrumental in speeding up this South Asian country’s journey towards achieving sustainable development goals (SDGs) through its relentless efforts in the form of digital financial inclusion of underserved people.
The SDGs were adopted by United Nations in 2015 with a universal call for action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. In terms of meeting SDGs, Bangladesh has had positive outcomes in areas, such as poverty eradication, education, health, employment, gender equality, and financial inclusion.
Nagad is working with the government as its development partner and is leading the way towards attaining SDGs.
By leveraging state-on-the-art technologies and disruptive innovations, Nagad has expanded access to financial services, particularly for unbanked and underbanked individuals. People can easily open accounts digitally, make instant transactions, and access various financial services using this platform. The company has recently reached the milestone of 80 million registered customers, with its daily transactions reaching over USD111 million on average.
The MFS carrier provides a convenient and secure means for individuals, especially in remote areas, to store, transfer money using their mobile phones and engage in economic activities, thus empowering people who previously lacked access to traditional banking services.
The state-owned mobile money operator also digitalised G2P payments, such as social safety allowances, education stipends, and other financial aid. By digitising such payments, Nagad ensures faster, more efficient, and transparent disbursements, reducing leakage and ensuring that funds reach the intended beneficiaries promptly. In this way, it is helping Bangladesh government find sustainable solutions to alleviate poverty and achieve food security. It has so far disbursed over USD 1.85 billion among beneficiaries.
Nagad has simplified the account opening process which does not require any paperwork. People now can open accounts either through e-KYC on smartphones or by simply dialling *167# on their feature phones. Thus, the use of papers has reduced, resulting in a positive impact on environment.
Tanvir A Mishuk, founder and managing director of Nagad Limited, said, “We think development should be sustainable. Keeping this in mind, we have been working as a development partner of the government since we entered the mobile financial market. Nagad is making a clear contribution to at least 9 out of the 17 SDGs.”
The SDGs can be a stepping stone to reach our goal of Smart Bangladesh by 2041. In this case, Nagad will be a powerful tool, he noted.
About Nagad Ltd (https://www.nagad.com.bd/)
Nagad Limited is one of the leading MFS operators in Bangladesh’s payment industry with 80 million registered customers and an average daily transaction of over USD 111 million. The payment platform, known as a successful public-private partnership between Bangladesh Postal Department and the private sector, was inaugurated in 2019 by Prime Minister Sheikh Hasina of the people’s republic of Bangladesh.
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A New York judge will soon address complex regulatory issues in the case involving Richard Heart, founder of the crypto token Hex. The SEC has accused Heart of selling unregistered securities and misusing investor funds to purchase luxury items, such as a $1.38 million Rolex and a 555-carat black diamond called “The Enigma.” Heart, based in Finland, is seeking dismissal of the SEC’s case, arguing that the SEC has overreached in its attempt to regulate global blockchain technology.
The case highlights the challenges of enforcing US securities laws on decentralized finance (DeFi) platforms and borderless crypto transactions. Heart and his supporters argue that technological innovations like Hex and the PulseChain blockchain cannot be defendants in such cases. This dispute underscores the evolving nature of blockchain technology and the difficulty regulators face in applying traditional legal concepts to these new digital assets.
The SEC has broadened its scrutiny of DeFi, with investigations and enforcement actions against various firms. However, the SEC’s approach of naming software and blockchain protocols as defendants raises concerns about developer liability and potential overreach. The outcome of this case could set significant precedents for how the US regulates the crypto industry.
Legal experts note that the SEC’s strategy might lead to developers being held accountable for the software they create, which could discourage innovation in the blockchain space. The case also raises jurisdictional questions, as Heart argues that US courts should not have authority over his actions, given his lack of direct ties to the US.
The resolution of this case could have broad implications for the regulation of decentralized and international crypto projects, as it tests the SEC’s ability to police a rapidly evolving and inherently global technology.
Source: news.bloomberglaw.com
The post Crypto Case Tests SEC’s Ability to Police Blockchain Technology appeared first on HIPTHER Alerts.
Binance, a leading cryptocurrency exchange, has announced adjustments to the tick size (the minimum change in the unit price) of specific spot trading pairs. These adjustments are aimed at enhancing market liquidity and improving the overall trading experience for users. The changes are scheduled to be completed by 05:00 (UTC) and 07:00 (UTC) on May 23, 2024.
Traders can find details about the tick sizes of all spot trading pairs on Binance in the platform’s Trading Rules. Importantly, the adjustment will not impact spot trading and related functionalities. API users will also observe changes in the tick size, and they can stay updated with the latest tick size using the GET /api/v3/exchangeInfo endpoint. Additional details and updates can be found in the API Changelog.
Existing spot orders will not be affected by the tick size update. Orders placed before the update will continue to be matched with the original tick size. However, traders are advised to adjust their trading strategies accordingly to avoid any unnecessary impact on their trading activities.
Binance emphasizes the importance of referencing the English version of the announcement for the most accurate and up-to-date information, as there may be discrepancies in translated versions. The exchange remains committed to providing a seamless trading experience and appreciates the support of its users. Users are reminded to exercise caution and make informed decisions when trading on the platform.
Source: blockchain.news
The post Binance Announces Adjustment of Tick Size for Spot Trading Pairs appeared first on HIPTHER Alerts.
According to an official announcement released on May 16, 2024, OKX will introduce new USDC trading pairs in the spot trading section between 7:00 am and 8:00 am UTC on May 20, 2024. This addition aims to broaden trading options for OKX users and contribute to the expanding USDC ecosystem.
In light of the risks associated with digital asset trading, OKX has issued a cautionary note to all users. They emphasize that information provided by OKX and third parties is for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information and does not provide financial, investment, or other forms of advice.
OKX highlights the speculative nature and high volatility of digital assets, cautioning that they may become illiquid at any time, potentially resulting in the loss of the entire investment. Therefore, OKX advises users to conduct thorough research and assess their risk tolerance before engaging in digital asset trading.
For inquiries regarding the new USDC spot trading pairs or any other concerns, users can contact OKX through their support center or engage with the OKX team on various platforms. OKX’s proactive approach in addressing user inquiries and fostering community interaction underscores its commitment to user satisfaction and the overall growth of the crypto ecosystem.
Source: blockchain.news
The post OKX Announces Support for New USDC Spot Trading Pairs appeared first on HIPTHER Alerts.
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