Crypto
Ghanaian and Nigerian Central Bank Open Respective Regulatory Sandbox Application Processes – Fintech Bitcoin News
The Ghanaian and Nigerian central banks have invited monetary innovators that want to be included of their respective regulatory sandboxes to submit functions. The Financial institution of Ghana mentioned its sandbox will even help improvements that try to resolve the monetary exclusion problem.
Fixing the Monetary Exclusion Problem
The Ghanaian central financial institution has referred to as on registered monetary establishments and unlicensed fintech startups to use for admission into its regulatory sandbox. In a press assertion issued on Jan. 26, the financial institution mentioned the method to confess the primary cohort of contributors will open on Feb. 13 and shut on March 14.
In keeping with the Financial institution of Ghana (BOG), the sandbox will help improvements that embrace “new digital enterprise fashions not at the moment lined explicitly or implicitly beneath any regulation.” The sandbox will even help improvements that try to resolve the monetary exclusion problem in addition to “new and immature digital monetary service expertise.”
As reported by Bitcoin.com information, Ghana’s central financial institution launched the sandbox, which was developed in collaboration with Emetech Options Inc, on Aug. 22, 2022. On the time, the financial institution characterised the sandbox launch as proof of its “dedication to offering the enabling setting for innovation to advertise monetary inclusion, and facilitate Ghana’s digitization and cash-lite agenda.”
As per the press launch, contributors are required to submit a whole kind which will be accessed through a hyperlink. The assertion provides potential contributors shall be knowledgeable of the result of their respective functions “inside twenty-one (21) working days after the closure of the applying window on 14th March 2023.”
In the meantime, the BOG’s Nigerian counterpart, the Central Financial institution of Nigeria, just lately mentioned its personal regulatory sandbox is now stay. The financial institution mentioned innovators can now submit “expressions of curiosity to take part within the regulatory sandbox to discover novel functions of expertise and innovation on behalf of our prospects and stakeholders.”
In a video shared through Twitter, the Nigerian central financial institution mentioned all entities with modern monetary options can apply on-line.
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Crypto
New cryptocurrency GBTC hits 5M: What is Green Bitcoin, and why are traders backing it for its upside potential?
Newly rising Green Bitcoin recently crossed the $5 million milestone today as traders back the $GBTC token for huge upside potential due to its unique supply shock dynamics. The project intends to foster a flourishing blockchain full of activity through its predict-to-earn mechanism, allowing users to predict Bitcoin’s price and earn massive rewards.
With the presale rapidly progressing, the early adopter’s opportunity to get positioned at the lowest price is quickly running thin as the price consistently increases in the unique fundraising design.
Green Bitcoin officially crossed the $5 million fundraising milestone, as traders back the predict-to-earn protocol for considerable gains in the coming weeks. The project has created a unique staking mechanism that allows users to place forecasts on the future price of Bitcoin to earn massive rewards scaled to their level of investment while earning staking rewards simultaneously.Green Bitcoin is being hailed as a greener alternative to Bitcoin. It combines Bitcoin’s legacy with Ethereum’s co-friendly proof-of-stake mechanism. As a result, Green Bitcoin has birthed an ecosystem tied to Bitcoin’s price through price predictions with no environmental impact.
The project intends for its blockchain to experience a high level of activity. Its users will consistently stake $GBTC to participate in the daily price contests and earn massive rewards. The price contests are rooted in the staking system, and the team will release new daily and weekly challenges based on Bitcoin’s price action to keep the content fresh.
What is Green Bitcoin, and how does it reward users for accurate price forecasts?
Green Bitcoin introduces a novel staking ecosystem called Gamified Green Staking. This ecosystem allows users to stake $GBTC tokens to be eligible to place daily price predictions on Bitcoin’s value. Those who accurately place correct forecasts are proportionally rewarded from the daily mining rewards pool, scaled to their level of commitment to the ecosystem.Green Bitcoin pays homage to Bitcoin’s legacy. Its rewards are distributed to winners every ten minutes, in line with the original Bitcoin block schedule. Contestants can claim their accumulated rewards from the protocol once every 24 hours to keep transaction costs low. The team has allocated an enormous 27.5% of the entire $GBTC supply to provide the rewards for accurate predictions for the next two years.
Users must lock their $GBTC into the Gamified Green Staking mechanism and submit their forecast before 11:30 PM EST to participate. At midnight, the smart contract will tally the day’s stakes against the actual price of Bitcoin and reward forecasts that land in the ‘Green Zone.’
As mentioned, the rewards earned depend on the level of investment made and the duration committed to the ecosystem. For example, those who have staked their $GBTC tokens in the Gamified Green Staking mechanism for more than a week are entitled to a 5% bonus on top of their regular daily rewards to recognise their extended commitment.
Those staking their tokens while participating in the daily price contests also earn an APY reward on top of their holdings through daily passive staking. The staking currently provides a 110% APY return, further incentivising users to keep their $GBTC locked into the ecosystem.
Why are traders backing it for huge upside potential?
Traders are quickly flocking to the presale, expecting upside potential for $GBTC due to its supply constraint dynamics.
Influential YouTubers ClayBro and Matthew Perryare backing the project with bullish views. They believe the unique staking system will cause $GBTC to surge following its exchange listing.
Users are required to stake their $GBTC into the ecosystem to participate in the price contests, so the tokens aren’t available for purchase on the open market. As a result, these experts predict that there might be a supply shock on centralised and decentralized exchanges as most $GBTC will be locked into the ecosystem.
Therefore, newcomers to $GBTC will likely be forced to pay higher prices to acquire the token and participate in the predict-to-earn ecosystem following the presale.
Investors are comparing the supply dynamics for Green Bitcoin as very similar to those of Bitcoin itself, which is currently experiencing a pre-halving rally ahead of its block reward cut. Both cryptocurrencies will likely experience massive supply shocks on the open market, causing prices to surge.
How to buy $GBTC today
$GBTC can be purchased at presale prices through the project’s website. Green Bitcoin is utilising the Web3Payments gateway to ensure the safety and security of everybody investing.
- Go to the official $GBTC presale page.
- Fund your wallet with $ETH or $USDT and connect to the Web3Payments widget.
- Use the presale widget to swap your currency for $GBTC, entering the desired amount you wish to purchase.
- If you prefer plastic, order $GBTC tokens to your wallet using your credit/debit card.
Once purchased, your $GBTC will be automatically staked, allowing you to start earning a return on your investment throughout the presale stage. You can claim your $GBTC through the same portal when the token officially launches.
Overall, it’s unsurprising to see investors rushing to the $GBTC project, which, with its unique staking dynamics, is about to cause a supply shock on the open market, leading to much higher prices following the presale.
Buy $GBTC today.
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Crypto
Grab users can now pay using cryptocurrency
Grab users can now pay in cryptocurrency following a partnership between the tech company and licensed payments provider Triple-A.
Under the partnership, Grab users can top up their GrabPay wallet via digital payment tokens, said a Grab spokesperson when MARKETING-INTERACTIVE reached out.
In addition, the new feature provides users with added flexibility and convenience as it allows them to convert their digital assets, such as stablecoins, into usable funds in their GrabPay wallets.
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Some cryptocurrencies users can make payments with include Bitcoin, XSGD, Ethereum, USDC and USDT.
By expanding the top-up options to include digital payment tokens, Grab can now provide users with a seamless and efficient way to access the company’s wide range of services.
The feature is currently only available in Singapore. That said, Grab will continue to monitor user adoption and respond to demand for such services, it said.
This isn’t Grab’s first partnership with Triple A. In 2021, Triple A partnered with Grab to allow users to buy digital currencies via GrabPay through TransCrypt.
“Grab recognises the growing interest in digital currencies, and our partnership with Triple-A demonstrates our openness to thoughtful collaborations in this space,” said Wong Wenbin, head of GrabPay, Grab Financial Group Singapore in 2021.
“Working with players such as Triple-A who are recognised by the regulator also affirms our commitment to widen our offerings for our users in a safe and measured way.”
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