Crypto On LYO: The Blend — LYOPAY App Users Now Transitioned to LYOTRADE, Nigeria Tops Global Charts for Crypto Awareness, India Central Bank to Increase Digital Currency Use

LYOPAY Official
3 min readSep 8, 2023

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

LYOPAY App Users Now Transitioned to LYOTRADE

Exciting news! We’re moving LYOPAY App clients to LYOTRADE — our expanded exchange platform. LYOTRADE now offers additional services, similar to what you already have in LYOPAY App.

Important Updates:

  • Shift from LYOPAY App to lyotrade.com
  • Access a wider range of currencies and services on LYOTRADE, including trading, staking, and 30 Fiat currencies via AlchemyPay.
  • LYOPAY App will cease operations on October 5th, 2023, at 9 AM UTC+1: Ensure funds are transferred from LYOPAY to LYOTRADE and retrieve essential account documents.
  • Immediate Steps for Users: If you haven’t yet registered on LYOTRADE, please do so at lyotrade.com. Make it a priority to transfer all your funds from LYOPAY App to LYOTRADE before the given deadline to avoid any disruptions or potential loss of funds.

For more information on how to register on LYOTRADE and ensure a smooth transition from LYOPAY App to LYOTRADE, visit: https://blog.lyopay.com/company-updates/lyopay-app-users-migration-lyotrade/

Nigeria Tops Global Charts for Crypto Awareness, Study Reveals

Nigeria, the largest economy in Africa, has gained recognition as the world’s most cryptocurrency-aware nation, as revealed by a global survey conducted by ConsenSys and YouGov.

The survey’s objective was to provide insights into the perceptions of various countries regarding cryptocurrencies and the broader Web3 ecosystem.

Key findings from the survey indicate that Nigeria and South Africa lead the pack in cryptocurrency awareness. When compared to respondents from major economies such as the UK, US, Japan, and Germany, an impressive 99% of Nigerians and 98% of South Africans displayed a strong grasp of Web3 concepts.

The survey included 15,158 individuals aged 18 to 65 from 15 different countries. Notably, 70% of Nigerian respondents expressed a solid understanding of blockchain technology’s fundamental concepts.

Nigeria’s high cryptocurrency awareness is further reflected in ownership rates, with 76% of the 1,001 Nigerian respondents stating that they currently hold or have previously owned cryptocurrencies.

Bitcoin and Ethereum emerged as the top choices among cryptocurrencies, followed by BNB and Dogecoin, surpassing Tether in popularity.

Moreover, 90% of Nigerian respondents expressed interest in getting into digital assets over the next 12 months, while 65% view cryptocurrencies as a safeguard against hyperinflation and currency devaluation.

India Central Bank to Increase Digital Currency Use

The Reserve Bank of India is considering launching its central bank digital currency (CBDC) in the call money market, an unnamed official disclosed to reporters on Tuesday.

The RBI intends to introduce CBDCs as tokens for call money settlements within the interbank borrowing market.

Currently, India’s CBDC is undergoing pilot testing in both retail and wholesale sectors, with the central bank aiming for one million daily transactions by the close of 2023.

Stay tuned for next week’s crypto news! Follow LYOPAY social media pages:

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This article incorporates insights and content generated by language model and other AI technologies. While the author has made every effort to ensure the content’s accuracy and reliability, neither the author nor LYOTRADE can guarantee the absolute correctness, comprehensiveness, or dependability of all information provided.

Cryptocurrency trading inherently carries significant risks. It’s not suited for everyone. Before engaging in cryptocurrency trading, it’s essential to evaluate your investment goals, experience, and risk tolerance. It’s possible that you could experience a total or partial loss of your investment, hence only invest what you can afford to lose entirely. Understand all risks associated with cryptocurrency trading and consider seeking counsel from an independent financial advisor. Participating in ICOs, IEOs, STOs, or any other offerings doesn’t assure any returns on your investment.

Always stay informed and exercise caution when dealing with cryptocurrencies and related technologies.

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LYOPAY Official

LYOPAY integrates many day-to-day crypto-services, such as payments, e-commerce, travel booking, and many more.