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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financial inclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.

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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financial inclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.

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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

Blockchain and a bank charter might do much to boost financial inclusion. He stated that the Figure Pay account will be interoperable with other accounts and payment methods (bypassing some of the vagaries of “closed” systems like MCX, now long-defunct).

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WeLab Eyes Third Virtual Bank, Applies for Thai License with Lightnet

Fintech News

The aim is to enhance financial access for underserved retail customers and small businesses. The consortium, which holds over 20 financial service licenses across five Asian markets, aims to create an AI-driven virtual bank that empowers underserved communities through advanced technology.

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U.S. Faster Payments Council Releases New Survey Report on Faster Payments and Financial Inclusion

Fintech Finance

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, has announced the publication of its latest industry resource, the Faster Payments and Financial Inclusion survey report.

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WeLab and LightHub Apply for Virtual Banking Licence in Thailand to Improve Financial Inclusion

The Fintech Times

Lighthub Asset and WeLab’s venture (the consortium) will improve financial inclusion in Thailand. It will provide localised digital banking services to everyone, including the underserved. Firstly, the consortium aims to provide underserved segments with immediate access to intuitive financial products.

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The Rise of Decentralised Finance (DeFi) Platforms in Emerging Markets

Fintech Review

These platforms leverage blockchain technology to create open, accessible, and secure financial systems that operate without the need for intermediaries like banks. As a result, DeFi is gaining traction rapidly due to its ability to provide financial services to those who have been historically underserved by conventional banking systems.

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