Small transfers of bitcoin to El Salvador jumped over four-fold in May from a year ago but still represent a small amount when compared to remittances sent in dollars.

The new policy aims at financial independence for people with disabilities by improving their access to banking services as well as providing opportunities to contribute as bank employees.

The financing is part of a program that supports policy measures to enable the rollout of the country’s social protection program, including the creation of digital IDs and cashless payments as part of cash transfer programs.

New legislation and regulatory changes in Egypt are set to unleash a surge in new fintech investments and change the way the country’s largely unbanked citizens do business, industry players say. 

The system's online authentication and e-KYC will enable a more seamless digital onboarding, making it easier for clients to open an account.

Li told Reuters in an interview that in “traditional finance” investing in SMEs was rarely worthwhile for global institutions as the due diligence was difficult, risks were high and funding amounts small.

The Recovery and Advancement of Informal Sector Employment project will help about 175,000 poor urban youths and low-income microentrepreneurs enhance employability and productivity.

The National Cash Transfer Company piloted the Door to Door Payment method as a response to the new challenging context and a preventive measure for coronavirus-related risks.

The government previously allocated NGN 2.3 trillion (USD 6 billion) to pandemic relief efforts, including microfinance and other programs.

Logiq also recently partnered with Yabx, a fintech venture of Comviva to offer credit-based financial services such as cash advance for merchants and "buy now, pay later" options for consumers.