Crypto on LYO: The Blend — Brazil’s Central Bank Chief Praises Bitcoin, Nepal Eyes CBDC Launch, Crypto ATMs Worldwide Exceeds the 39K Mark

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What happened in the crypto world in the last week? Let’s see some interesting news together! 

Brazil’s Central Bank Chief Praises Bitcoin’s Technology 

Central Bank of Brazil chief Fabio Araujo described the underlying technology of Bitcoin as a   financial innovation as it catalyzed the birth of new cutting-edge products and services. 

Araujo emphasized that the first ever cryptocurrency has sparked numerous research and studies about central bank digital currencies (CBDCs) and the development of Web3

The director also pointed out the role of CBDCs, saying that: 

“Even though CBDC uses the technology that supports crypto, CBDC is not a crypto asset. The CBDC is an expression of the Real within the environment in which cryptocurrencies operate, in the same way that the Real does not compete with listed assets.”

Nepal Eyes CBDC Launch 

Nepal’s central bank, Nepal Rastra Bank (NRB), has raised legislative amendments regarding its authority to explore the probability of developing the country’s own central banks digital currency. 

According to Revati Nepal, a senior executive at NRB, a task force has been created to draft the necessary legal changes allowing the country’s central bank to issue a CBDC. 

Revati hinted that NRB is planning to utilize a separate digital wallet to conduct digital banking transactions and then develop its interoperability with other payment service providers. The senior executive also added that Nepal is in no rush to introduce digital currency to avoid unnecessary risks. 

Crypto ATMs Worldwide Exceeds the 39K Mark

The number of cryptocurrency automated teller machines (ATM) around the world has witnessed an exponential growth over the years, jumping from 969 in 2017 to 39,011 in 2022, according to coinatmradar.com.  

Data shows that 38,998 of the crypto ATMs support bitcoin, followed by LTC with 32,466, ETH with 29,324, DOGE with 16,312, and BCH with 13,801. 

Stay tuned for next week’s crypto news! Follow LYOPAY social media pages: Twitter | Facebook | Instagram | LinkedIn | Telegram | YouTube

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