Interbank market news scan: Will Ripple, XRP facilitate development of central bank digital currencies?

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Bitcoin and Ethereum exchange rates as of 10 March 2021, 5:30 am EST

ETH/USD: 1,818.90 BTC/USD: 53,961.00

ETH/EUR: 1,530.63 BTC/EUR: 45,408.90

ETH/GBP: 1,311.22 BTC/GBP: 38,899.80

ETH/AUD: 2,365.32 BTC/AUD: 70,171.70

ETH/CHF: 1,695.32 BTC/CHF: 50,294.90

ETH/JPY: 197,890.00 BTC/JPY: 5,870,770.00

ETH/CNY: 11,848.20 BTC/CNY: 351,500.00

Source: OANDA

For what I am following, follow the links …

The Central Bank of Nigeria (CBN) has announced a scheme that seeks to boost international remittances as well as to encourage the use of official corridors when retrieving funds. The CBN’s move to incentivise recipients follows the plummeting of the country’s official remittances inflows as recipients opt for non-traditional corridors such as cryptocurrencies. Nigeria to Pay 1.2 Cents for Each Dollar Remitted to the Country to Combat Cryptocurrency Use – Emerging Markets Bitcoin News

The worldwide cryptocurrency market size is anticipated to arrive at USD 1,758.0 million by 2027, displaying a CAGR of 11.2% during the estimated time frame. The developing tendency of people in created nations towards virtual cash trade strategies will immensely affect the market during the gauge time frame. Cryptocurrency Market to Expand with Increasing Internet Penetration, says Fortune Business Insights (yahoo.com)

Banque de France, the central bank of France, has reportedly discussed XRP and Ripple for the launch of a central bank digital currency (CBDC). The central bank is planning to prefer XRP over Bitcoin and Ethereum. Bank of France, Likely to Prefer XRP over Bitcoin and Ethereum | Finance Magnates

Bitcoin’s value surpassed $1 trillion on Tuesday as the price of the cryptocurrency jumped. Bitcoin (BTC) value exceeds $1 trillion for second time (cnbc.com)

10 March 2021

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