📱Telegram CEO, Pavel Durov, arrested at French airport

Today’s Menu ☕️
📱Telegram CEO, Pavel Durov, arrested at French airport over the weekend
🏦 TymeBank set for Indonesian debut amid ongoing expansion in Southeast Asia
🤖 Binance enables crypto trading with mobile money in select African markets
🧠 Neuralink reports progress in resolving brain implant retraction issue
🪪 Nigerian Government designates NIBSS, BVN, NIN databases as critical national infrastructure

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📱SOCIAL MEDIA

Telegram CEO, Pavel Durov, arrested at French airport over the weekend

In a surprising turn of events, Russian-born Telegram founder and CEO Pavel Durov was apprehended by French authorities at Le Bourget Airport, located just north of Paris over the weekend. The arrest, which took place shortly after Durov’s private jet touched down, has sparked widespread speculation and concern, particularly given the app’s contentious history.

French media outlets have reported that the 39-year-old tech entrepreneur was detained based on a warrant related to activities associated with Telegram, the highly popular messaging application he developed. The exact nature of the charges remains unclear, but sources suggest they could be linked to past disputes involving privacy and data security…....continue reading

🏦 DIGITAL BANKING

TymeBank set for Indonesian debut amid ongoing expansion in Southeast Asia

TymeBank, a pioneering digital banking institution based in South Africa, has successfully amassed R4 billion (equivalent to approximately $222 million) in customer deposits. The bank has set its sights on expanding its operations to Indonesia by the end of 2024, marking its entry into the third Southeast Asian market. This strategic move follows its previous launches in the Philippines in October 2022 and in Vietnam in January 2024.

Upon its arrival in the Indonesian market, TymeBank has decided to initially forgo the pursuit of a full-fledged banking license. Instead, the bank will focus on introducing its lending service, known as Merchant Cash Advance, which is specifically tailored to cater to the needs of Small and Medium Enterprises (SMEs). This approach mirrors the strategy TymeBank employed during its expansion into Vietnam.

Coen Jonker, the chair of Tyme Group, expressed optimism about the venture as he highlighted the significant potential for profitability within the small business lending sector in Indonesia and the broader region. Jonker also noted that by concentrating on lending services, TymeBank can expedite the process of building its brand presence. He pointed out that acquiring a comprehensive banking license and establishing the necessary infrastructure is a more time-consuming and costly endeavor...…....continue reading

🤖 CRYPTOCURRENCY

Binance enables crypto trading with mobile money in select African markets

Binance, the internationally renowned cryptocurrency exchange, has unveiled an expansion of its services in Africa by introducing a new feature that allows users in Ghana, Tanzania, Uganda, and Zambia to engage in cryptocurrency transactions using their mobile money accounts.

This innovative feature, known as One Click Buy and Sell (OCBS), has been developed through a collaboration with Transfi, a company specializing in Web3 payments. It is a strategic addition to Binance’s comprehensive suite of global fiat on-ramp and off-ramp services. The OCBS feature is designed to streamline the process for users to effortlessly buy cryptocurrencies and directly sell their assets to their mobile money accounts.

Binance has emphasized its commitment to security and regulatory compliance by implementing stringent Know Your Customer (KYC) protocols and robust security measures. These initiatives are in place to protect users’ assets and personal information, aligning with the industry’s regulatory standards.…....continue reading

🧠 HEALTHTECH

Neuralink reports progress in resolving brain implant retraction issue

Neuralink, the neurotechnology company spearheaded by Elon Musk, has shared an encouraging update regarding the second participant in its pioneering human trials. The update highlighted that, in a positive development, there has been no evidence of “thread retraction” in this individual. Neuralink’s technology involves embedding a chip into the brain, enabling individuals with paralysis to manipulate devices, surf the web, and play video games using only their thoughts.

The first human trial, conducted in January, was initially successful, but some issues arose when the implanted threads began to retract from the brain tissue, subsequently diminishing the device’s ability to capture brain signals.

To address this, Neuralink implemented several precautionary measures for the second patient, named Alex. The team aimed to minimize brain movement during the operation and decreased the space between the implant and the brain’s surface. These adjustments appear to have been effective, as no thread retraction has been observed in Alex thus far........continue reading

OTHER STORIES

• Nigerian Government designates NIBSS, BVN, NIN databases as critical national infrastructure…….read more

• Ex Uber Exec Carrol Chang takes over from Jeremy Johnson as Andela CEO…..read more

• Apple targets Sept. 10 debut for new iPhones, AirPods and watches….read more

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