Breaking News
Translate

Zugacoin gains more grounds as central bank of Saudi Arabia signs deal with Cryptocurrency

Kindly Share This Story:

Again Zugacoin continues to appreciate and gain more grounds just as Central bank of Saudi Arabia recently signed deal with Cryptocurrency.

Saudi Arabia’s central bank signed a deal with U.S.-based Ripple to help banks in the kingdom settle payments using blockchain software, as Gulf regulators begin to explore new forms of financial technology.

The pilot program is the first of its kind to be launched by a central bank, allowing banks in Saudi Arabia to use Ripple’s software to instantly settle payments sent into and out of the country, the company said late on Wednesday.

This will allow Saudi banks to make faster, cheaper and more transparent cross-border transactions, Ripple said, adding that the central bank would provide training to Saudi banks interested in the program.

The Saudi central bank is working with the United Arab Emirates central bank to issue a digital currency that would be accepted in cross-border transactions between the two countries, UAE central bank governor Mubarak Rashed al-Mansouri told Reuters in December.

This is coming shortly after Africa’s first crypocurrency, Zugacoin rose high in demand when United States Government direct Banks to start accepting Cryptocurrency.

The U.S. Office of the Comptroller of the Currency (OCC) had issued a letter approving U.S. banks to use public blockchain networks.

READ ALSO: We‘ll shame, disgrace terrorists in 2021 — Buratai

The letter addressed national banks and federal savings associations participating as nodes on a blockchain and storing or validating payments made in native digital assets or stablecoins.

Just like Zugacoin, other Cryptocurrencies rose and became high in demand.

Bitcoin gained nearly 13% already in 2021 at last check, trading hands above $38,000. Ether is trading just below $1,200, roughly 25% below its record high of $1,448, while Zugacoin traded above 51,000 Dollars, making it the highest best seller in the world.

The currency which is first of it’s kind in Africa Specially created to help Nigerians and other Africans at large to tackle poverty in terms of buying and trading with Zugacoin owned by Archbishop Dr Sam Zuga a Tiv Indigene of Benue State, Nigeria is expected to hit 100,000 Dollars before the end of 2021.

“So, you are strongly advised to invest in ZUGACOIN for a brighter financial future by buying on indoex, Coingeko, coinmarketcap and other exchange platforms,” Sam Zuga noted.

The founder, Archbishop Sam Zuga added, “We are going to teach State Governments in Nigeria and the Federal Government how to increase their IGR by 300% through ZUGACOIN in 2021. We will start giving loans to all African countries in 2022. Nigerians would get financial stability through ZUGACOIN. We have many projects that will improve the lives of Nigerians. If God is for us, who can be against us?”

Vanguard News Nigeria

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!