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IMF Backs A Global Central Bank-backed Digital Currency Network

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Global CBDC: IMF Working on Global CBDC Platform Concept 

In a bid to foster efficient and fairer international transactions, the International Monetary Fund (IMF) is actively developing a global platform for Central Bank Digital Currencies (CBDCs), Reuters reported.

IMF Managing Director Kristalina Georgieva emphasized the need for interoperability between countries during a conference attended by African central banks in Rabat, Morocco, on Monday. Unlike decentralized cryptocurrencies, CBDCs are digital currencies controlled by central banks.

Georgieva stated that CBDCs should transcend national boundaries and not remain fragmented propositions within individual countries.

To achieve this, she said that the IMF has been working towards a common regulatory framework that will enable seamless global interoperability for CBDCs.Failure to establish such a platform could create a void that cryptocurrencies will likely fill, she added.

Backing the ‘official’ digital currency

Georgieva highlighted that 114 central banks worldwide are already exploring CBDCs, with approximately 10 having made substantial progress in their implementation.

She also stressed that the potential of CBDCs would be underutilized if they were solely developed for domestic use. By connecting countries and facilitating cross-border transactions, CBDCs could enhance financial inclusion and reduce the costs of remittances. Currently, the average cost of money transfers amounts to 6.3 per cent, equivalent to $44 billion annually.

Georgieva further emphasized the importance of backing CBDCs with assets. While acknowledging the investment potential of cryptocurrencies backed by assets, she cautioned against speculative investments in cryptocurrencies lacking such support.

Tracking the global rise of CBDC 

The rise in CBDC exploration is evident as per US-based think tank Atlantic Council, with 114 countries—representing over 95 percent of global GDP—actively considering or advancing CBDC projects. In contrast, in May 2020, only 35 countries were contemplating CBDCs. Presently, 60 countries are in an advanced exploration phase, including development, pilot testing, or launch.

Eleven nations have already fully launched their CBDCs, with China’s pilot project reaching approximately 260 million people and expanding across the country in 2023. The most recent addition to the list is Jamaica, which introduced its own CBDC called JAM-DEX.

The imposition of financial sanctions on Russia has spurred countries to seek alternative payment systems that circumvent the dominance of the U.S. dollar. As a result, there are currently nine cross-border wholesale CBDC tests and seven cross-border retail projects, almost double the number compared to the previous year.

Throughout 2023, more than 20 countries are expected to take significant steps towards piloting their CBDCs. Australia, Thailand, Brazil, India, South Korea, and Russia intend to commence or continue pilot testing next year. Additionally, the European Central Bank (ECB) is likely to initiate its CBDC pilot in the near future.

As of December 2022, all G7 economies have transitioned from research to the development stage of CBDCs. Notably, the New York Federal Reserve’s wholesale CBDC experiment, Project Cedar, propelled the United States into the development phase.

Among the G20 countries, 18 have reached the advanced stage of CBDC development, with seven already in the pilot phase. Almost every G20 nation has made substantial progress and allocated significant resources to CBDC projects in the past six months.

Source:- Wionews

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Gold Coast (Coast Omonofewho) Releases Promo Photos, Named Lascurt Hotels International Enterprise Ambassador

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Rising artist Gold Coast (born Coast Omonofewho) has released a fresh set of promo photos as he continues to build momentum following the official drop of his single Thank You Lord. The new visuals arrive as the singer is also announced as the official Ambassador for Lascurt Hotels International Enterprise.

The promo photos showcase Gold Coast in a polished and confident light, capturing the energy and gratitude that define this chapter of his career. The images are expected to accompany ongoing promotions for Thank You Lord, which is now available on all major streaming platforms along with its official music video.

In a significant career development, Gold Coast has been named Ambassador for Lascurt Hotels International Enterprise. The partnership links the artist with a respected hospitality brand known for excellence and premium service. As ambassador, he will represent the group across key platforms and engagements.

“This season is full of blessings,” Gold Coast shared. “Releasing new promo photos, seeing Thank You Lord out in the world with its video, and stepping into the role of Lascurt Hotels International Enterprise Ambassador all feel like perfect timing. I’m grateful and ready for what’s next.”

The combination of new promo visuals, a freshly released single, and a high-profile ambassadorship positions Gold Coast (Coast Omonofewho) as a rising force to watch. Fans are encouraged to stream Thank You Lord, watch the official video, and follow his journey with Lascurt Hotels International Enterprise.
Stay connected to Gold Coast’s official channels for more updates and exclusive content.
Contact & Socials:
WhatsApp: 08140260839
X / Instagram / Facebook: @GOLDCOASTONTHIS

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FROM ENTRIES TO SPOTLIGHT: THE SOUNDOUT LIVE EDITION 2 JOURNEY

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What began as an open call for emerging musical talent in Delta State has evolved into a competition that is now entering one of its most decisive stages. SOUNDOUT LIVE Edition 2 has moved from its initial launch, through the release of its official competition beat and the submission of entries, to the current voting phase, bringing participating artists closer to opportunities for recognition, exposure and career development.

Organised through a collaboration between SOUNDOUTTV and COBYL CITY LTD, the second edition was created to provide emerging artists with a platform to put their creativity and performance ability before a wider audience. With a prize package valued at over ₦900,000, the competition was positioned from the outset as more than a search for a winning performance; it was an opportunity for participating artists to gain exposure and access to professional development opportunities.
The journey took its first major creative turn on 1 August 2026 with the release of the official SOUNDOUT LIVE Edition 2 competition beat. Produced by Berry IV for COBYL CITY LTD, the beat became the common musical foundation for contestants, giving each participating artist the same starting point while leaving room for individual interpretation, delivery and creativity.

With the beat released, the competition moved from anticipation to participation. Artists were required to build their entries around the official instrumental, recording either a freestyle or an original song and presenting their performances according to the competition’s submission guidelines.

Entries were shared on social media while tagging SOUNDOUTTV and were also submitted through the designated official channel, giving contestants their first opportunity to place their work before the competition’s audience.
The initial submission deadline was set for 14 August 2026, but the submission window was subsequently extended to 18 August, allowing the competition to accommodate the continued flow of entries before moving into its next phase.
With the extended submission period concluded, SOUNDOUT LIVE Edition 2 has now progressed into its current voting stage, shifting the focus from entry submissions to audience participation.

Voting is being conducted through the official SOUNDOUT LIVE voting platform. Each individual voter may cast a maximum of 33 votes for a single contestant, while contestants may receive an unlimited total number of votes provided they come from different supporters and comply with the competition rule.

The current stage gives the audience an active role in the competition. Beyond watching the performances, supporters now have the opportunity to stand behind their preferred contestants and contribute to the momentum of their journey as the competition progresses. For the contestants, it is another opportunity to turn the work they have already put forward into meaningful audience engagement.
The entries are in, the performances have been heard, and the competition has reached the stage where the audience gets to have its say.

Whose performance caught your attention? Which contestant left an impression? Now is the time to stand behind the artist you believe deserves your support. Visit the official SOUNDOUT LIVE voting platform, cast your votes and make your voice count. The talent has taken the stage; now, let the fans decide.

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Focox AT Officially Signs with Lucky Lisiano Records in Landmark Deal That Redefines Artist Empowerment

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In a move that is already sending shockwaves through the Afrobeats and global music communities, rising force Focox AT has officially signed with Lucky Lisiano Records (LLR). The contract is being widely described as one of the most artist-favorable deals ever put on paper — a rare, heavily enriched agreement that prioritizes the artist’s long-term ownership, creative control, and financial upside in ways rarely seen in modern label partnerships.

Based in Warri, Nigeria, Focox AT brings a distinctive sound and unfiltered energy that has been building momentum across the continent. Lucky Lisiano Records, headquartered in the United States, recognized the unique opportunity and moved decisively. The resulting partnership is being called “promising and unique” by both camps — a genuine bridge between Warri’s raw creative fire and LLR’s international infrastructure.

Under the new agreement, Focox AT will begin the partnership with two singles, followed by a full EP scheduled for release in the new year. Both artist and label have expressed strong excitement about the road ahead, describing the union as a true meeting of vision rather than a standard transactional signing.

There has also been growing talk of Lucky Lisiano Records establishing a physical headquarters in Nigeria, though no official timeline has been confirmed. Industry observers note that such a move would mark a significant expansion for the U.S.-based label and further solidify its commitment to African talent. With the first single expected August 14th 2026 and the EP locked in for mid 2027, both sides are already looking ahead. The consensus is clear: this partnership is built for impact. 2027 is shaping up to be a year of serious momentum.

About Focox AT

Focox AT is an emerging Nigerian artist from Warri whose music blends street authenticity with forward-leaning Afrobeats energy. His signing to Lucky Lisiano Records marks a major new chapter.

About Lucky Lisiano Records

Lucky Lisiano Records is a U.S.-based independent label focused on developing distinctive global talent with strong emphasis on artist-first partnerships.

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