BitPesa, Kenyan Bitcoin Payments Startup, Acquires European Money Transfer Platform

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BitPesa, Kenyan bitcoin payments startup, has acquired TransferZero, Spain-based online money transfer platform, in a bid to further accelerate its growth across the world. BitPesa, which raised two funding rounds last year to take its total secured investment to around the US$10 million mark, launched in Kenya in 2013 and also operates in Nigeria, Tanzania, Uganda, the DRC, the UK and Senegal. TransferZero was founded in 2016 and was the first fintech company licensed by the Bank of Spain as an authorized payment institution. The company is a partner of…

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FNB is Africa’s Leading Bank

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First National Bank (FNB) announced yesterday that it was named Africa’s leading bank in The Banker’s, Top 500 Banking Brands Report 2018. Ranked 141st in the global banking table, with a brand valuation of $1.4bn, FNB grew its brand value by 23% in the past year. “Banking has evolved from being more than just banking to a lifestyle offering, that touches on the personal and emotional level of our customers. The success lies in FNBs ability to operate in challenging market conditions with changing consumer perceptions and dynamics. We fundamentally…

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Stripe’s Ditch of Bitcoin Calls for Rethink of what the Cryptocurrency is good for!

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Stripe has announced that it’s dropping support for Bitcoin-based transactions on its payments platform, citing high transaction confirmation times and numerous failures, as well as fees that are now as expensive as bank wires. That’s a huge blow to the cryptocurrency, not just because it’ll see fewer transactions, but also because it’s a sign that companies and consumers are growing disinterested in using Bitcoin to pay for things. Valued at $9 billion, Stripe is a major payments service provider in 25 countries, and the company claims to process billions of…

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Hackers breach National Bank systems making off with Ksh 29m

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Hackers have breached the National Bank of Kenya systems making away with Ksh 29 million. Confirming the incident through a statement on their twitter handle, @National_Bank,  National Bank confirmed the incident stating that indeed there was an attempt fraud in normal course of business on 17th January but the bank’s monitoring and security resources frustrated the attempt “The amount of attempted fraud is about Ksh 29 million and we are confident we will recover most of that money,” read the statement. The bank also confirmed that security are in pursuit…

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DotConnectAfrica founder, Sophia Bekele, wins monumental court case against National Bank of Ethiopia

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Photo: DCA Founder and CEO Sophia Bekele speaking during the African Women’s Forum Special Program, Crans Montana Forum, #CMF17 Barcelona (Spain). Sophia Bekele, an Ethiopian native with American nationality has won a milestone legal battle against Ethiopia’s Central Bank – that is the National Bank of Ethiopia – whose decision led her to lose shares she inherited from her late father, the Founder of both United Bank and United Insurance,  at an undervalued rate at both institutions. Ms. Bekele, a global entrepreneur and the CEO of DotConnectAfrica (DCA) Group – one…

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Bitcoin Bubble Burst will warn you if the bitcoin dream is about to crash down

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Whether you’re a bitcoin believer or a vulture waiting to have your bubble predictions proved right, you’re probably keeping one nervous eye on the charts in anticipation of the crash everyone seems to expect any second now. Bitcoin Bubble Burst, presented today at the Disrupt Berlin hackathon, lets you you focus on other things, while it watches for major price changes and news events that could affect prices and alerts you in real time. Although there are plenty of apps and services that warn you when bitcoin trading volume or…

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Bitcoin loses over a fifth of its value in less than 24 hours

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Bitcoin slid to as low as about Sh900,000 ($9,000) in volatile trade on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday. The cryptocurrency fell as much as eight per cent on Thursday on the Luxembourg-based Bitstamp exchange to hit about Sh900,000 ($9,000) exactly, marking a fall of well over $2,000 in under 24 hours. It then edged back up to trade at around Sh940,000 ($9,400) in the hour that followed, still down roughly 4 percent on the day. One…

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The Age of Cash is Almost Over

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A world without paper payments is rapidly approaching, the co-founder of the Sohn Conference Foundation said Thursday. Evan Sohn said that paying for things with traditional bank notes is increasingly dwindling as the appetite for contactless payments and digital currencies grows. “How far are we from a restaurant that says we only take online payment? If you eat here, you have to download this application and we only take electronic payment, no cash here, no check,” Sohn, who works in the payments industry, said on the sidelines of the Sohn…

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Coinbase ordered to give the IRS data on users trading more than $20,000

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Most digital currencies exist in a sort of twilight state just beyond the grasp of federal regulators, but the U.S. tax authority is starting to get savvy to this whole bitcoin thing. On Wednesday, a federal judge in San Francisco ruled that Coinbase must supply the IRS with identifying information on users who had more than $20,000 in annual transactions on its platform between 2013 and 2015. After noticing that the number of tax returns claiming gains from virtual currency didn’t line up with the emerging popularity of digital currencies like…

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