How to sell crypto and transfer to bank millennium
Foreign persons and institutions as well as Overseas Pakistanis can invest in securities listed on Pakistan Stock Exchange. They can benefit from potential growth opportunities available through investing in the Stock Market. This scheme allows investors to invest into various instruments such as equities, government bonds, and TFCs. D, Office No.
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When the government of the UAE announced last month that it aims to use blockchain for half of its transactions by , it was the latest in a long line of statements to confirm the growing importance and impact of the database technology — not just in the region, but across the world. Since its invention by Sataoshi Nakamoto in to support cryptocurrency bitcoin, the incorruptible digital ledger of economic transactions has evolved to become a highly sought after technology for businesses — so much so that the Middle East and Africa spending on blockchain is expected to more than double this year, according to consultancy firm International Data Corporation.
The emirate established the Global Blockchain Council, intends to use the technology for all government documents by , and plays host to two major events — the Future Blockchain Summit, taking place this month, and the World Blockchain Forum, which was held at Madinat Jumeirah in April.
It was during the latter event that a new product was officially launched that showcases the power and potential of blockchain technology — a digital currency that could change the lives of billions of people worldwide: Freedium. Based in Dubai, Freedium is the first commodities-backed digital stable currency, using blockchain technology to provide financing to commodity owners in emerging markets — particularly in Africa, but also in Latin America, Asia and the Middle East.
With plans to be operational by the third quarter of this year, the firm expects to issue its first Freedium coin in Q4, and aims to free developing countries from constraints linked to volatile currencies, limited access to banking services and foreign exchange scarcity.
We meet a day before his launch announcement at the World Blockchain Forum, and as we talk his excitement for the potential of Freedium is palpable. Around 20 years ago in Africa only 1 per cent of people had access to a telephone. Can you imagine? Only 1 per cent could be connected to the rest of the world. You have the largest amount of mobile wallets in Africa — twice as many as the United States and growing twice as fast. We went directly from no bank account to mobile banking. And that has had a tremendous impact on the continent.
Freedium works by inviting customers to get liquidity from their commodities in Freedium coins, depositing their commodities in a warehouse as collateral. It is issued with the full backing of your commodity and stable to the dollar, thanks to our stabilisation mechanism that allows us to track the dollar within plus or minus 5 per cent. It is globally accessible on any device, and you can use it to make international or national transactions without having to go through corresponding banks.
That represents some 60 per cent of global GDP. And he argues that Freedium can help overcome these challenges in a number of ways. Around 11 per cent of those go to the likes of Western Union and banks via transfer fees, and foreign exchange fees.
We can do it for free with Freedium coin. It will cut down the cost of remittances to Africa from 11 per cent to less than 1 per cent. He has zero risk. To make trade more efficient, less costly, faster, and transparent. Another big aspect of Freedium is financial inclusion, he says. The ambition of Freedium is reflected in the team Keinde has assembled. The company has also made strategic partnerships with leading global companies including Wanchain, Vaphr and Bitsapphire.
And the future certainly looks exciting, with the potential of Freedium extending into free zones, banks and other institutions around the world. While at MIT — where his thesis presciently focused on how to change currencies in Francophone Africa — Keinde set his mind on joining the World Bank, which he considered the best path to contributing to the development of Africa. He eventually joined the organisation as part of the Young Professionals Programme.
Courted by numerous Wall Street players, he was later persuaded to take a sabbatical from the World Bank and joined the investment banking division of Lehman Brothers, where he stayed for four years before rejoining the World Bank as part of its sister organisation, International Finance Corporation. There were starting to compete with their European and US counterparts, and were getting a bit fed up with the suitcase banking approach that global investment banks had.
They were very interested, but the implementation got a bit slow. So I decided to create my own platform. So things were going extremely well at that time. It was a scenario that had a deep impact on Keinde and MFC, specifically after an investment into a German technology company was agreed and approved by the LP-controlled investment committee.
This put us in a difficult position with the counter party because it was a competitive process that we had won. They had an alternative to get capital, but had selected us and dropped the other side. So the counter party decided to sue us. They tried to take control of Millennium Finance in a very aggressive way and nominated an interim management team to run it while we were fighting.
Keinde raised the matter to financial regulator the DFSA Dubai Financial Services Authority , and after a year-long legal batter was awarded a positive outcome. He adds that his first business decision after the ruling was to fire the entire interim management team — a strong move that quickly had ramifications. A ridiculous smear campaign that had no foundation whatsoever. Despite clearing his name of the corruption allegations, the details remain on Wikileaks — meaning Keinde is repeatedly required to address the allegations in a business setting.
Rebuilding MFC in the aftermath of the global financial crisis, Keinde admits that business was relatively slow, but success gradually arrived — particular in Africa. In Keinde decided to run for the presidency of Senegal.
With an incumbent president who had served the maximum two terms, but had found a way to run for a third through constitutional changes, Keinde believes the majority of people were ready for a new direction for the country. And he saw the opportunity to help develop Senegal from the inside. To make it the bridge between Africa and the rest of the world using proper governance, using technology as an opportunity to leapfrog, and using our unique geographic position.
Keinde reveals that his pre-campaign was very successful, being a non-political candidate with a good track record. Too much success, it turned out. One month before the elections, the incumbent declared my candidacy non-receivable. But in every set-back there is a good thing as well. So in the second round we all supported the second placed candidate, and he won with a landslide of 67 per cent, making him the current president of Senegal.
So it was not in vain. They tried to associate me, even though I was advising the competing bidder that lost. The resulting legal proceedings lasted for two and a half years.
Nothing had been stolen. There was nothing wrong — nobody had stolen anything from that transaction. With the launch of Freedium, Keinde is certain that he is now in a position to be able to do good work across the globe.
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Cerberus is Dead, Long Live Cerberus?
As we approach the end of the second year of a worldwide pandemic, the global economy has surprised to the upside, and banks have escaped the worst. But the outlook for the industry remains clouded with half of banks not covering their cost of equity. In fact, bank profitability held up better than most analysts expected. ROE in was 6. A PDF of the full McKinsey Global Banking Annual Review, with more detailed data, and a set of strategic questions for banks, is available for download on this page.
Shop Anything from Anywhere with Your Digital Assets
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On July 23 a forum post appeared regarding a new Android banking trojan. The user registered just the day before and posted a similar advertisement in his profile. Interestingly enough, the topic starter said that he found the contact 4 days earlier. I will rent a new android botnet with wide functionality to a narrow circle of people 10 people. Details in PM.
Buy and sell Bitcoin and other Cryptocurrencies with cash
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ERMAC - another Cerberus reborn
Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded them to invest billions. Then, two years ago, she disappeared. Jamie Bartlett spent months investigating how she did it for the Missing Cryptoqueen podcast , and trying to figure out where she's hiding. In early June a year-old businesswoman called Dr Ruja Ignatova walked on stage at Wembley Arena in front of thousands of adoring fans.
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Portugal is fast becoming the number one country for anyone involved in crypto, especially long-term investors and retail traders. Official statistics clearly show that immigration to Portugal is growing a lot year after year, and a good chunk of these expats are young people below the age of Buy Bitcoin. I think this is extremely exciting for the crypto scene in Portugal and the country in general.
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