A lot of the events that have occurred in the cryptocurrency sector since the beginning of summer are surprising. For example, although many critics of cryptocurrency predicted a demise, not even the harshest detractors couldn’t have anticipated such a seismic event.

Two of the biggest surprises in this period have been that investors continue to show up and that new tokens are released daily. We have evidence to corroborate the first point: in 2020, 8% of Americans had investments in cryptocurrency. In 2022, that has gone up to an extraordinary 18%. Many of these users are simply ignoring the “crypto winter.” Secondly, there are 21,295 cryptocurrencies listed on the market, with hundreds more in the works.

In the following passages, we will suggest tokens that users should consider: Polygon (MATIC), Near Protocol (NEAR) and Big Eyes Coin (BIG).

Polygon Takes Ethereum To New Heights

MATIC is a well-defined, user-friendly project for Ethereum scaling and infrastructure development. The platform consolidates the Plasma Framework with a proof-of-stake blockchain system. The former was recommended by Vitalik Buterin, one of Ethereum’s co-creators. Buterin believes that Plasma supports the easy execution of autonomous smart contracts. Polygon modifies Ethereum into a legitimate multi-chain platform or an Internet of Blockchains.

The model is similar to the ones adopted by Avalanche, Cosmos, and Polkadot. The benefit is that users can enjoy the transparency, security, and flexibility offered by Ethereum. Moreover, Polygon’s central component is Polygon SDK, a flexible system for creating applications. Token holders can create standalone chains, ZK rollup chains, and optimistic rollup chains on the platform.

NEAR Protocol Puts Users In Control Of Their Crypto Experience

NEAR is a layer one blockchain, a community-operated cloud computing project that eradicates some of the shortcomings faced by rival blockchains, including slow transaction speeds, below-par interoperability, and lackluster throughput. NEAR Protocol is the perfect setting for creating decentralized applications (dApps). One of the main advantages of NEAR is that the system utilizes human-readable account names; this is different from Ethereum’s cryptographic wallet addresses. The platform boasts scaling solutions and a resident consensus mechanism called “Doomslug.”

Big Eyes Coin Pulls A Community Together

Why are we counting on a token called Big Eyes Coin (BIG)? There are two reasons why we are positive about BIG’s chances of success. One is that the platform will facilitate the shifting of wealth into the decentralized finance ecosystem.

Second, and arguably more important, is that Big Eyes Coin is a community token. Community tokens are used to support welfare endeavors. In this case, a portion of the money involved will be allocated to a charity wallet designed to preserve the oceans.

Tokenomics

It’s important to know how the supply of BIG tokens will be distributed.

1. 200 billion Big Eyes Coins will be circulated
2. 70% of these tokens will be accessible at a public presale
3. 20% of BIG tokens are meant for exchanges
4. 5% of the tokens will be kept for marketing
5. 5% tokens will be reserved for charity

Conclusion

If users are bullish about cryptocurrency in general, then prognosticators can be assured that the industry is not done yet. Also, the market is inundated with new tokens, which suggests that developers are sanguine too. If you want to buy Big Eyes Coin, the best new token in our opinion, you need to download MetaMask. BIG tokens can be acquired either with Ethereum or by card.

Get your tokens now, and use code SUSHI194 for a BIG bonus at token collection!

For more information on Big Eyes Coin (BIG), you can visit the following links:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

It is not controversial to say that crypto presales are proliferating to the point where they are becoming the norm rather than the exception. Presales are very appealing to investors because they can buy coins at a heavily discounted price, thus reducing risk while enhancing their profit potential. Analysts have recommended 4 crypto presales to invest in now before they sell out completely – Big  Eyes (BIG), IMPT, Dash 2 Trade (D2T) and Orbeon Protocol (ORBN) which has notably risen by over 655% during presale.

>>BUY ORBEON TOKENS HERE<<

Dash 2 Trade (D2T) Wants to Rival Bloomberg

The new crypto signals trading platform Dash 2 Trade has made a number of essential trading tools available to the general public.

Dash 2 Trade offers what they regard as a “cryptocurrency Bloomberg terminal” in a free version on their platform. Visitors must, however, pay a monthly subscription price of 400 D2T and a professional tier fee of 1,000 Dash 2 Trade in order to access the full feature set of the website. The Dash 2 Trade presale has raised $5.8m in the last two weeks, as of press time, with many investors swarming the Dash 2 Trade presale in order to access tools that could aid them in improving their current trades. As such, Dash 2 Trade is likely to perform well after presale thanks to its real world utility with helping people’s trades.

Big Eyes (BIG) is Getting Bigger

One of the most anticipated coins on the cryptocurrency market is Big Eyes (BIG). This meme token is based on a cartoon image of a cat with Big Eyes, which gives rise to the project’s name. At the time of writing, the Big Eyes presale is in its 6^th stage. Big Eyes is aiming to be the No.1 ‘meme coin’ according to their whitepaper.

However, due to Big Eyes’ lack of real-world utility, it has drawn criticism from investors as a more speculative meme token. With no legitimate features driving the value behind Big Eyes’ token, many investors are skeptical about the long-term performance of Big Eyes.

IMPT is a Green Dream

A brand-new cryptocurrency called IMPT is aiming to improve the carbon credit market. Over the past few weeks, the initiative has gained momentum with outstanding participation rates in its presale.

The company has now successfully funded approximately $13 million to support its mission, which is all the more remarkable given how pessimistic the cryptocurrency markets are right now, with most assets having fallen sharply from their highs last year.

>>BUY ORBEON TOKENS HERE<<

Orbeon Protocol (ORBN) Transforming a Whole Sector of Business

The crowdfunding and venture capital sectors are being transformed by Orbeon Protocol (ORBN). Functioning as a blockchain-based investment platform, Orbeon Protocol (ORBN) allows regular investors to invest as little as $1 in companies by minting fractionalized NFTs for startups seeking to raise funds.

There have been several occasions where companies have failed to raise the required capital after fundraising rounds on traditional crowdfunding platforms. Orbeon Protocol (ORBN) is equipped with a safety mechanism. The “Fill or Kill” approach makes sure that investors get their money back if the project doesn’t raise enough money.

The native cryptocurrency of the Orbeon ecosystem is called ORBN coin. Holders of ORBN are entitled to a variety of Orbeon benefits which include the ability to vote on important protocol decisions, receive cash-back refunds, and trade charge savings.

All of the listed coins represent good investments but, for us, Orbeon Protocol is the standout. The native token, ORBN, is currently available in its presale phase at a price of $0.030, up from $0.004 since the presale started at the end of October. Orbeon Protocol is already slated to be a winning coin compared to Dash 2 Trade, IMPT and Big Eyes.

Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register

Telegram: https://t.me/OrbeonProtocol

Contactless payments are a branch of Fintech services involving the settlement of financial transactions without physical contact between the payer and the acquiring devices typically linked to a payment channel.

This article will be looking at contactless payments which have been correctly identified as an innovative payment option for the safe and effective conduct of low-value & large volume payments.

What is the main Regulatory Framework governing contactless payments in Nigeria?

Contactless payment services are regulated by the Central Bank of Nigeria CBN Guidelines for Contactless Payments in Nigeria passed on the 17th of October,2022.

What is the applicability scope of the CBN Guidelines on Contactless Payments in Nigeria?

The Guidelines apply to the operation of contactless payments in Nigeria. 

What are the objectives of the CBN Guidelines on Contactless Payments in Nigeria?

The objectives of the CBN Guidelines are :-

1. The Provision of minimum standards and requirements for the operations of contactless payments in Nigeria.

2. The specification of the roles and responsibilities of stakeholders involved in contactless payments in Nigeria.

Who are the recognized stakeholders in the contactless payments system in Nigeria under the CBN Guidelines?

The recognized stakeholders in the contactless payments system in Nigeria are :-

1. CBN-licensed acquirers.

2. Issuers

3. Payment scheme operators.

4. Licensed card schemes.

5. Licensed switching companies.

6. Payment Terminal Service Providers (PTSPs).

7. Payment Terminal Service Aggregators (PTSA).

8. Merchants.

9. Terminal owners.

10. Customers.

11. Any other stakeholder as designated by the CBN.

Can contactless payments be offered with value added services?

Yes, but with the prior approval of the CBN.

Are there transaction limits on contactless payments in Nigeria?

Contactless payment transaction limits do not yet exist but they can be determined from time to time by the CBN.

How are contactless transaction complaints and issues/disputes to be determined?

Contactless transaction customer complaints are to be first directed to the relevant payment industry regulation system before being escalated to the CBN in line with current CBN Dispute Resolution Guidelines.

The Provisions of the CBN circular on Global Standing Instructions (GSI) in Nigeria

The Central Bank of Nigeria (CBN) GSI (Global Standing Instructions) circular was passed on the 19th of January,2022 pursuant to the CBN Global Standing Instructions Guidelines of July 13,2020.

This article will be summarily looking at the Regulatory Framework governing GSIs in Nigeria and will in particular be focused on :-

– The objectives of the CBN circular.

– The provisions of the circular.

– The implications of the CBN GSI circular.

What exactly are Global Standing Instructions?

A Global Standing Instruction is an authorization given by a borrower for the recovery from any of his other accounts maintained with other banks of a loan obligation when due by a creditor. 

What are the objectives of the CBN GSI Guidelines?

The objectives of the CBN GSI Guidelines are:-

1. Creating a regulatory framework for Identifying and watchlisting recalcitrant loan defaulters.

2. Enhancing loan recovery from all eligible and funded accounts in the industry.

3. To encourage and improve the culture of credit repayment in Nigeria.

4. The reduction of non-performing loans in the Nigerian Banking system.

What are the notable provisions of the CBN GSI circular?

1. The frequency of recovery attempts formally restricted under the 2020 CBN GSI Guidelines is now unrestricted.

2. The GSI automated loan recovery feature available to all loans in the industry shall remain in place throughout the life of the loans and until they have been fully repaid. 

What are the implications of the CBN GSI circular?

The CBN circular has far reaching implications for the loan recovery services sector in Nigeria, the most notable being that loans no longer have to be marked or written off as bad debts.

It also means that loan recovery services have now gone digital through the introduction of automatic debits recovery options across bank accounts unified under a Bank Verification Number by virtue of the binding nature of Global Standing Instructions.

The Central Bank of Nigeria in keeping with its mandate under the Central Bank of Nigeria Act, is also charged with regulating Non-Interest Financial Service providers in Nigeria, with the focus of this article being the provisions of its regulatory framework  governing Islamic Banking.

The core focus topics of this article are:-

– The components of the regulatory framework governing Islamic Banking in Nigeria.

– The objectives of the Islamic Banking regulatory framework.

– The licensing requirements for Islamic Financial Service providers in Nigeria.

What is the main component of the regulatory framework governing Islamic Banking in Nigeria?

The main regulatory instruments for Islamic Banking in Nigeria are The Central Bank of Nigeria Guidelines For the Regulation & Supervision of Institutions Offering Non-Interest Financial Services in Nigeria (or “The Guidelines”).

What are the objectives of these guidelines?

The objectives of these guidelines are the provision of minimum standards for the operation of IIFS(Institutions Offering Islamic Financial Services) in Nigeria.

What is the applicability scope of the guidelines? 

The guidelines are applicable to IIFS operating under the principles of Islamic Commercial Jurisprudence only and are not applicable to other non-islamic non-interest financial institutions .

What are the pre-licensing operational requirements for Islamic Banks in Nigeria?

The requirements for licensing as an Islamic Financial Institution are :-

– A written application to the CBN .

– Evidence of a technical agreement executed by the promoters of the proposed institution with an established and reputable Islamic Bank or Institution.

– A license to undertake Islamic Banking may be issued by the CBN upon such terms, conditions which authorize the operation of a Non-Interest Financial Institution (NIFI) on a regional or national basis for banks or any other banks for Financial Institutions.

– An IIFS with Regional Banking authorization shall be entitled to carry on operations within a minimum of 6 and a maximum of 12 contiguous states of the Federation lying within not more than 2 geopolitical zones of the country as well as within the Federal Capital Territory.

– An IIFS with national banking authorization shall be entitled to carry on banking business operations within every state of the federation including the Federal Capital Territory.

To find out the full length of licensing requirements for an IIFS, consult your lawyer.

Can IIFS operate digitally under the CBN Guidelines?

Yes they can, subject to CBN Guidelines on digital banking.

Can conventional banks /financial institutions set up Islamic Banking subsidiaries or branches? 

Yes, they can. However, such Islamic banking subsidiaries or branches of conventional banks or OFIs shall be established in line with the licensing requirements for the establishment of a full-fledged NIFI.

Do AML/CFT(Anti-Money-laundering/Combating the Financing of Terrorism) laws and regulations currently in force in Nigeria also apply to IIFS?

Yes, they do.

In keeping with its cashless policy, the Central Bank of Nigeria CBN on the 25th of October,2021 issued a set of bold guidelines governing the use of the E-Naira & signifying Nigeria’s leap into the digital currency space.

The E-Naira Guidelines were made pursuant to the Central Bank of Nigeria CBN Act of 2007 and is the latest addition to Nigeria’s legal tender portfolio, representing one of the first examples of digital fiat currency in Africa.

This article will be looking at the notable provisions of the regulatory framework governing the E-Naira, especially the following :-

1. The legal qualities of the E-Naira.

2. The objectives of the E-Naira system.

3. The E-Naira delivery platform and system components.

4. Transaction adaptability and limits of the E-Naira.

What are the objectives of the E-Naira currency system?

The objectives of the E-Naira are :-

– To complement physical cash as a less expensive, more efficient, safe, generally acceptable & trusted means of payment/store of value.

– The improvement if monetary policy effectiveness.

– The enabling of the government’s capacity to deploy targeted social interventions.

– The provision of cheaper alternative channels for government revenue collection & the boosting of remittances through formal electronic channels.

What is the applicability scope of the CBN E-Naira Guidelines?

These guidelines are applicable to all Financial Institutions and users of the E-Naira.

Is the E-Naira a Cryptocurrency?

No, the E-Naira in the strictest sense is not a Cryptocurrency which defines decentralized Blockchain-backed representations of value, but it is a Digital currency and specifically, a Digital adaptation of Fiat currency, which makes it closer to a Stablecoin it Digital fiat.

What are the components of the E-Naira delivery platform? 

The components of the E-Naira delivery platform are :-

1. The Digital Currency Management System (DCMS) :- For the purpose of minting and issuing E-Naira.

2. The FI (Financial Institutions) Suite :- This is the primary app used by FIs to manage their digital currency holdings, requests and redemptions.

3. E-Naira wallets :- For end-user transaction purposes.

4. The E-Naira stock wallet :- This belongs solely to the CBN and it is for the purpose of warehousing all minted E-Naira.

5. E-Naira Treasury wallets :- To be maintained by an FI to warehouse E-Naira received from the CBN E-Naira stock wallet.

6. E-Naira branch wallets :- which may be created by an FI for its branches and which shall be funded from the treasury E-Naira wallet. 

7. The E-Naira merchant speed wallet :- This is used only for receiving and making E-Naira payments for goods and services.

8. E-Naira Speed wallets :- This is for End-users to transact on the E-Naira platform.

Who are the recognized participants in the E-Naira system under the CBN Guidelines?

The participants in the E-Naira system are :-

1. The CBN :- Which has the functions of minting, issuing, distributing, redeeming and when necessary destroying the E-Naira as well as monitoring compliance with applicable regulations.

2. FIs(Financial Institutions) :- Which stand as Intermediaries between the CBN and customers as well as facilitating E-Naira Speed wallet onboarding for Bank customers and integrating the E-Naira Speed wallet feature into their electronic banking channels.

3. Merchants :- With the role of providing customers with alternative channels for making transactions using E-Naira and providing cash-back services for customers.

4. Consumers :- Who have the role of creating and funding E-Naira Speed wallets as an alternative transaction settlement option.

What are the types of E-Naira consumer transactions permissible under the CBN Guidelines?

The following consumer transactions are permissible under the CBN Guidelines :-

1. P2P (Person to Person) transactions.

2. P2B/B2P(Person to Business/Business to Person) transactions.

3. P2G/G2P (Person to Government/Government to Person)  transactions.

4. Cash or Bank account to E-Naira Speed wallets.

5. E-Naira Speed wallets to cash or Bank accounts.

Are there transaction limits on the E-Naira?

Yes there are, but these limitations are on a category basis. The E-Naira transaction limit categories are:-

– The Tier 0 category 

Daily Transaction limit – 20,000.00 Naira

Speed wallet limit – 120,000.00 Naira

– The Tier 1 category

Daily Transaction limit – 50,000.00 Naira

Speed wallet limit- 300,000.00 Naira

– The Tier 2 category

Daily Transaction limit – 200,000.00 Naira

Speed wallet limit – 500,000.00 Naira

– The Tier 3 category

Daily Transaction limit – 1 Million Naira

Speed wallet limit – 5 Million Naira

– The Merchant category

Daily Transaction limit – No limit

Speed wallet limit – No limit

How are consumer complaints and disputes arising from the E-Naira resolved?

Consumer complaints from E-Naira issues should first be directed to the help desk of the FI where a speed wallet is domiciled to be resolved within a 48-hour timeframe before being escalated to the Central Bank of Nigeria.