Category: Economy

National Digital Payment Strategy of Ethiopia (NDPS) is an ambitious plan spearheaded by the National Bank of Ethiopia (NBE) to overhaul the country's payment system and create a digital economy. It's a bold step toward reducing reliance on cash and ensuring that all Ethiopians, especially those in rural or underserved areas, can participate in the digital financial ecosystem. Ethiopia wants to create a network that seamlessly connects banks, microfinance institutions (MFIs), fintech companies, and telecom operators bringing together all players in the financial space. A major part of this is the National Payment Gateway (NPG), which enables secure, cross-platform transactions and ensures that digital payments work smoothly across the entire country. The goal here is to make digital payments a reality for all Ethiopians, from urban centers to rural villages.…

CIPS is a system designed to handle cross-border payments using the Chinese Yuan (RMB). As opposed to most of the other systems that wait for the end of the day to settle their transactions, CIPS payment settlement is in real time, meaning they are cleared immediately. Instant settlement reduces the chances of problems that may crop up with delayed payments. It is operated by CIPS Co., Ltd., a subsidiary of the People's Bank of China, China's central bank. With China seeking to make the RMB a more global player, CIPS forms part of such a process. It is also an alternative to the current system dominated by the US dollar. CIPS vs SWIFT: What's the Difference? You might think that CIPS and SWIFT-the global messaging system that powers international payments-are…

The collaboration between American Express (Amex) and Ripple goes back to 2017, when the two companies announced a deal for providing faster cross-border payments between the U.K. and the U.S. Since then, in the realm of financial technology, this marked a major traditional financial player leveraging blockchain technology for international payments. However, let's delve into what this partnership did and did not involve: This collaboration with Ripple's blockchain technology will make cross-border payments faster and much more efficient. RippleNet is a decentralized network connecting banks, payment providers, and other financial institutions for the purpose of transferring money in almost real time and at a lower cost compared to traditional SWIFT-based systems. The critical point arising from here is that this partnership involved the use of RippleNet, but XRP was not…

The euro area economy is caught in a tricky transition. The European Central Bank (ECB) has started to ease rates, but the effect hasn’t filtered through yet. Credit remains tight because both banks and firms are still playing it safe. The result? A recovery that’s moving forward, but only inch by inch. Why Is Lending Still So Slow? A few key reasons explain why credit hasn’t picked up yet: Banks Are Still NervousDespite the ECB’s rate cuts, banks remain wary. Many still see the economy as fragile and fear that borrowers could struggle to repay. The aggressive rate hikes of 2022–23 are still working their way through balance sheets squeezing profit margins and cash flows for a lot of companies. The Economy Is Barely MovingGrowth is weak, trade is sluggish,…

In 2016, SBI Holdings partnered with Ripple Labs to change the face of banking in Japan. Together, they launched the joint venture called SBI Ripple Asia, which focuses on the introduction of Ripple's solutions to Japanese banks. This deal allowed SBI an early access to RippleNet and XRP, thus leaving other players behind in the race in Japan's financial landscape. So why XRP? Unlike Bitcoin or Ethereum, which were slow and expensive to use for day-to-day transactions, XRP was built for speed and efficiency. Transactions settle in only 3–5 seconds and come with very low fees, not possible in the current system. In the case of SBI, which aims to speed up cross-border transactions and enhance liquidity between Japanese and foreign banks, XRP is an obvious choice. By 2025, SBI…

UBS's published a specific market analysis, which is a well-supported view in the current foreign exchange landscape. It is noted that the current economic outlook is deteriorating due to US tariffs and global trade tensions, which increases the risks to Swiss exporters the precise reason why UBS believes the franc needs to be weakened. The projection of EUR/CHF climbing to 0.94 is consistent with recent reporting on UBS's outlook for the pair. The long-term target window of Q4 2025 – Q3 2026 is also a specific detail often mentioned in such forecasts. The main driver is that the SNB is likely to intervene to weaken the "overly strong" franc, which is a widely discussed and credible thesis in currency markets. The reasoning for the intervention (fighting deflationary pressure and protecting…

Kyrgyzstan is pursuing a twin track strategy by issuing a national stablecoin (KGST) at the same time and creating a Central Bank Digital Currency (CBDC), the digital som. There are multiple sources that confirm Kyrgyzstan has actually been working closely with Binance on digital assets. President Sadyr Japarov also sat down with Binance founder Changpeng Zhao (CZ) to talk about developing blockchain and cryptocurrency, signing a Memorandum of Understanding (MOU) in May 2025 with Kyrgyzstan's National Agency for Investments on collaboration in crypto payment infrastructure and blockchain education. April 2025: Kyrgyzstan has been developing its own digital currency, the som, President Japarov having signed into law enabling a CBDC pilot project. May 2025: CZ has been appointed pro bono advisor of the President of Kyrgyzstan on the development of digital…

This is a fascinating and complex issue that Ethiopia is currently exploring with China, following a similar move by Kenya. Ethiopia is reportedly discussing converting a portion of its approximately $5.38 billion debt owed to China from US dollars (USD) to Chinese Yuan (CNY) or Renminbi (RMB). Ethiopia, which is a BRICS member, is indeed in early-stage discussions with China to potentially convert a portion of its substantial US dollar-denominated debt into Chinese yuan-denominated loans. The primary goal for Ethiopia, as stated by the Governor of the National Bank of Ethiopia, Eyob Tekalign, is to reduce financing costs (interest savings) and strengthen trade with its key partner, China. The move comes after Ethiopia and China had already signed a currency swap deal aimed at facilitating trade in Ethiopian Birr and…

The US President Donald Trump has consistently elevated the threat of losing the dollar's dominance to a matter of national security. His explicit characterization of BRICS as an "attack on the dollar" and the accompanying claims were made on Tuesday, October 14, 2025, during a bilateral meeting with Argentine President Javier Milei at the White House. He has publicly stated that losing the dollar's status "would be like losing a war, a major world war" and that the U.S. "would not be the same country any longer." He also categorically called the BRICS alliance an "attack on the dollar" during his meeting with President Milei, claiming that without his intervention, the dollar would already be losing its dominant status. The key details surrounding this event were made to reporters during…

Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, who are the key leaders of the project. Dr. Nicolas Kokkalis, a PhD holder from Stanford University, is the Head of Technology, while Dr. Chengdiao Fan, also a Stanford PhD, is the Head of Product. Together, they have been developing and guiding the Pi Network since 2019. The founders' vision has attracted a massive global community, with over 50 million registered users, known as "Pioneers." This community-driven approach has been a cornerstone of Pi Network's growth and its ambition to become a recognized global currency. Pi Network is on the brink of a significant milestone as it prepares to align with ISO 20022, a global financial messaging standard, on November 22, 2025. This transition is set to transform…