|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Central Bank of Bolivia Reports Doubling of Crypto Trading Volumes in Q3 2024
Sep 28, 2024 at 07:10 am
The Central Bank of Bolivia (BCB) recently reported a substantial increase in cryptocurrency transactions across the country. According to a report released on September 26, 2024, the volume of virtual asset transactions surged by more than 100% through electronic payment channels.
The Central Bank of Bolivia (BCB) has reported a substantial increase in cryptocurrency transactions in the country. According to a report released on September 26, 2024, the volume of virtual asset transactions surged by more than 100% through electronic payment channels.
This growth was particularly evident in the period from July to September, when monthly transaction volumes rose from $7.6 million in the first half of the year to $15.6 million.
The BCB attributed the rapid expansion in transaction volume to the stability provided by these stablecoins. Backed by the U.S. dollar and precious metals, stablecoins have become a central component of Bolivia’s evolving digital economy.
This growth translated into a total transaction value of $46.8 million during the last three months, surpassing the first half of the year by a wide margin. The BCB linked this expansion to Board Resolution 082/2024, enacted on June 25, 2024, which authorized the use of electronic payment channels for virtual asset transactions.
Edwin Rojas Ulo, president of the BCB, commented on the development, stating:
“The Central Bank of Bolivia is paving the way for the use of crypto assets in the country. We are making significant strides towards an economy that embraces accessible digital tools.”
He also noted that the number of transactions reached 1,123,000, marking a 141% increase compared to the previous six months.
This rise in cryptocurrency trading aligns with data from the Financial System Supervisory Authority (ASFI). Six financial institutions have reported digital asset transactions, with a 40% increase between July and August. Most of these transactions were carried out by individuals, further indicating growing adoption.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- BoG’s Revamped Forex Rate Model: A Case of Déjà Vu?
- Sep 28, 2024 at 04:25 pm
- With less than a week to go before the third review of Ghana's latest International Monetary Fund (IMF) program ends, the authorities are scampering to show
-
- Bitcoin (BTC) Price Prediction and Analysis for Q4 2024: Bullish or Bearish?
- Sep 28, 2024 at 04:25 pm
- Bitcoin (BTC) price broke above $66,000, printing the third consecutive bullish week, which seems to have triggered a strong bull run
-
- Cardano (ADA) vs Rexas Finance (RXS): Which One Has a Better Shot at Breaking into the Top 5 Crypto Rankings?
- Sep 28, 2024 at 04:25 pm
- The cryptocurrency industry keeps changing, and as a result, the rivalry gets ever fiercer for the top positions in the rankings. This is the same also as with Cardano (ADA); it has been a long look at the neck of the asset race course.
-
- The Royal Mint Reveals Its Top Ten Rarest 50 Pence Coins Currently in Circulation
- Sep 28, 2024 at 04:25 pm
- Since moving to pounds and pence in 1971, more than 70 variations of the 50p coin have been minted, including several rare designs which could be worth a lot more than 50p.
-
- Katy Perry teases 'special guest star' will sing I Kissed a Girl with her at AFL grand final
- Sep 28, 2024 at 04:25 pm
- Katy Perry's pre-entertainment performance isn't until 1.40pm, but keen fans can grab a sneak peek of her choreography on social media.
-
- Cutoshi (CUTO) Presale: A Promising MemeFi Ecosystem to Watch in 2023
- Sep 28, 2024 at 04:25 pm
- Searching for a good crypto project for investment is not an easy task. Currently, Solana is moving towards the green zone. However, the real market star is Cutoshi!
-
- Can Solana (SOL) Exceed $300 in 2024?
- Sep 28, 2024 at 04:20 pm
- This price forecast is supported by a number of factors, including data showing Web3 consumer shifts to higher throughput and more affordable Layer-1 chains such as Solana.
-
- Digibuy: A Web3.0 Consumer Ecosystem Platform Set to Launch in 2024
- Sep 28, 2024 at 04:20 pm
- As Internet technology advances, Web3.0 is rapidly emerging as a significant driver of global economic transformation.
-
- Julien Alfred Highway: Saint Lucia's Fastest Woman Receives National Honors
- Sep 28, 2024 at 04:20 pm
- The exploits of the nation’s fastest woman, the 2024 100m Olympic champion, and World Indoors 60m champion, have earned her the respect and appreciation of every Saint Lucian.