People in the Middle East & North Africa region have been turning more towards cryptocurrencies to pay remittances and preserve the value of their savings where major inflation is underway.
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Palau is the latest country to dabble in cryptocurrency. It has partnered with Ripple to develop a new USD-backed stablecoin. It could end up being the world's first government-backed stablecoin.
Bitcoin has hit $5,000 today, marking its highest point since the start of the year. It was triggered after an order for 20,000 bitcoins was placed, split across three major exchanges.
