BITCOIN

Top officials from nine Asian countries, members of the Asian Clearing Union (ACU), have gathered in Tehran for their annual meeting, where de-dollarization takes center stage. In addition to the officials from Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka, Russia’s central bank governor and officials from Belarus and Afghanistan also attended the meeting. ‘De-Dollarization Is Not a Voluntary Choice by Countries’ The two-day 51st annual Asian Clearing Union (ACU) meeting began on Tuesday in Tehran, with participation from officials representing members of the Asian Clearing Union (ACU) as well as several others. The meeting was hosted by the central bank of Iran and de-dollarization was a key topic discussed at the event, Tasnim news service reported. The ACU currently has nine members: Bangladesh Bank, Royal Monetary Authority of Bhutan, Reserve Bank of India, Central Bank of Iran, Maldives Monetary Authority, Central Bank of Myanmar, Nepal Ras...

Chinese President Xi Jinping has stated that China is ready to strengthen cooperation with Russia. The two nations reportedly want to “develop and establish a bigger regional market” while ensuring “a more stable and robust global supply chain” in order to “bring real and tangible benefits to the countries in the region.” China and Russia to Strengthen Cooperation Chinese President Xi Jinping met with Russian Prime Minister Mikhail Mishustin in Beijing on Wednesday. During their meeting, Xi told the Russian official that China is ready to strengthen cooperation with Russia, Chinese news agency Xinhua reported. Xi stated that in addition to strengthening cooperation across multilateral platforms, such as the United Nations, the Shanghai Cooperation Organization (SCO), the BRICS, and the G20, China and Russia should explore “potential” new economic, trade, and investment relations. The Chinese leader told Mishustin: “We hope that the two sides will continue to take advantage of … th...

Kenya-headquartered African fintech M-Kopa is reported to have secured $200 million in debt financing and an additional $55 million in equity funding. Financial services group Standard Bank Group led the debt financing round while the investment company Sumitomo Corporation led the equity round with an investment of $36.5 million. Expanding M-Kopa’s Smartphone Service Business M-Kopa, an African fintech startup focused on asset financing, has reportedly secured $200 million in debt financing and an additional $55 million in equity funding. According to a Fintech Futures report, Standard Bank Group led the debt financing round which was also backed by the International Finance Corporation (IFC). The other participants in this round include British International Investment, Mirova Sunfunder, and Nithio as well as the funds that are managed by Lion’s Head Global Partners. On the other hand, M-Kopa’s equity funding round was led by one of its existing backers Sumitomo Corporation which...