Kwara, which was founded in 2019, already provides Kenyan savings and credit cooperative societies with its unique backend-as-a-service (BaaS) software. According to the Techcrunch report, the fintech's customers grew from two to over fifty in just two years, prompting Kwara to consider developing the app.

Cynthia Wandia, co-founder and CEO of Kwara, explained the company's strategy after the capital raise:

"We want credit unions to be as productive as possible by providing their members with the kinds of neobank experiences they demand."

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According to the Techcrunch report, Kwara hopes the app will offer up new borderless routes for lending institutions to sign up new users. The software is also intended to assist credit unions in moving away from time-consuming paper-based processes and the requirement for costly brick-and-mortar locations.

Robert Kiyosaki, the author of Rich Dad, Poor Dad, believes depression is looming, and predicts that "gold, silver, bitcoin, and real estate will plunge."

Robert Kiyosaki, the author of the best-selling book Rich Dad, Poor Dad, predicts a fall and depression, forecasting that "gold, silver, bitcoin, and real estate will crash as well." He went on to say that following the crisis, he is planning to buy all four types of assets.

The author of Rich Dad, Poor Dad, Robert Kiyosaki, has again foretold an approaching crash, which a slump would succeed. According to him, several markets, including bitcoin, are expected to crash.

Kiyosaki and Sharon Lechter co-authored Rich Dad Poor Dad in 1997. It has been on the New York Times Best Seller List for nearly six years. The book has been sold in more than 109 countries and translated into 51 languages.

The Federal Reserve and President Joe Biden are "promoting phony inflation," according to Kiyosaki, who added:

"Crash and depression are on the way. Gold, silver, bitcoin, and real estate prices will all plummet. After the fall, people are ready to purchase more gold, silver, bitcoin, and real estate. After the phony inflationary collapse, it's time to get richer."

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Last Monday, the best-selling novelist made another prediction regarding the Biden administration. He predicted that Biden would resign soon. "Kamala [Harris] will be the first female president of the United States. This had always been the intention. Following Obama, Trump sabotaged Hillary's climb."

The well-known Rich Dad Poor Dad author has predicted a crash several times. He predicted the "greatest crash" in the world's history in June. He reinforced his warning in September, predicting a "Giant stock market meltdown" in October. He then warned that the United States was on the verge of entering a slump.

Foreign residents will be allowed to own and use digital rubles in Russia

The Russian Federation's Central Bank (CBR) will make it easier to trade the digital ruble for foreign currencies. It will enable users outside the country to open and use digital ruble wallets. The monetary authority recently announced these plans in its "Main Directions for Digitalization of the Financial Market, 2022–2024" project.

In 2018, the Bank of Russia began considering a central bank digital currency (CBDC) and planned to investigate the possibilities of introducing one last year. In October 2020, a consultation document was published to solicit feedback from financial industry participants. The regulator unveiled a digital ruble idea in April 2021, defining its main architecture.

The CBR launched a digital ruble pilot group in June, including more than a dozen banks and other stakeholders. By the end of December, the authority hopes to have a platform prototype ready to test with the CBDC.

According to Forklog and RBC, which cited the draft paper, it intends to expand the number of participants and transaction kinds gradually.

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In 2022, the Bank of Russia will allow credit firms to participate in the first round of the trial, which will involve consumer-to-consumer transactions.

The Federal Treasury and financial intermediaries such as non-bank payment service providers, exchanges, brokers, marketplaces, and insurance firms will participate in the second phase.