|All Time High:|
|Market Cap: |
|The price of #CBK today is $0.81 USD.|
The lowest CBK price for this period was $0, the highest was $0.810, and the exact current price of one CBK crypto coin is $0.81004.
The all-time high CBK coin price was $16.18.
Use our custom price calculator to see the hypothetical price of CBK with market cap of BTC or other crypto coins.
|The code for Cobak Token is #CBK. |
Cobak Token is 1.8 years old.
|The current market capitalization for Cobak Token is $81,004,430.|
Cobak Token is ranked #231 out of all coins, by market cap (and other factors).
|There is a medium volume of trading today on #CBK.|
Today's 24-hour trading volume across all exchanges for Cobak Token is $545,226.
|The circulating supply of CBK is 100,000,000 coins, which is 100% of the total coin supply.|
|Note that there are multiple coins that share the code #CBK, and you can view them on our CBK disambiguation page.|
More Cobak Token (#CBK) News
|Kenyan Central Bank Rejects Deputy President Rigathi Gachagua's Claims C...
The Central Bank of Kenya appeared to rebuke the country's new deputy president Rigathi Gachagua, after it rejected the latter's claims the East African nation lacks enough foreign exchange to import oil. According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. Central Bank Only Sources Forex for the Government
The Kenyan central bank has pushed back against remarks made by the country's deputy president Rigathi Gachagua which implied the East African nation lacks foreign exchange reserves to import fuel. In a statement, the bank said it 'does not supply foreign exchange for transactions other than for the national government.'
According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. This has been the case since the complete liberalization of the foreign exchange market in the 1990s, the bank's statement added.
In addition, the Central Bank of Kenya (CBK) insisted that it is mandated to adhere to the requirements of the country's central bank act. Known as the Central Bank of Kenya Act (26), the law requires:
[The CBK] at all times use its best endeavours to maintain a reserve of external assets at an aggregate amount of no less than the value of four months' imports as recorded and averaged for the last three preceding years.
Kenya's Bleak Prospects
According to the CBK, Kenya's import cover stood at 4.64 months as of September ...
|Kenyan Central Bank Raises Key Rate by 75 Basis Points
The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. Growing Inflationary Pressures
Following its latest meeting, the monetary policy committee (MPC) of the Central Bank of Kenya (CBK) announced it approved increasing the central bank rate (CBR) from 7.50 percent to 8.25 percent. The MPC, which is chaired by the central bank governor Patrick Njoroge, approved the interest rate adjustment to shield Kenya from the imploding global economy.
With the upward adjustment of the CBR, the Kenyan central bank appeared to follow in the footsteps of the Central Bank of Nigeria which recently increased its monetary policy rate by 150 basis points. However, unlike the CBN, which hiked interest rates after seeing its inflation rate jump from 17.01% in July to 20.52% in August, the Kenyan MPC took the step to increase the CBR by 75 basis points even when the East African nation's inflation rate only went up by 0.2% from 8.3% in July to 8.5% in August.
Justifying its decision, the MPC cites growing inflationary pressures and the increased global risks, as well as their likely impact on the domestic economy. In a statement, the MPC revealed it took the step after observing there was 'scope for a tightening of the monetary policy to fur...
|Kenyan Central Bank Says It's 'Craziness' to Convert Country's Reserves ...
The Kenyan central bank governor Patrick Njoroge has described as 'craziness' the calls to convert Kenya's reserves into bitcoin. He added that he would have to be out of his mind before agreeing to this. Njoroge argued that cryptocurrencies like bitcoin are not only volatile, but are hardly solving any problem. CBK Governor Says Converting Kenya's Reserves to Bitcoin Deserves a Jail Term
The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has described the idea of putting the country's reserves into bitcoin as 'craziness.' Njoroge, who was addressing recently elected members of Kenya's legislature, added that if it occurred that he agrees to convert Kenya's reserves to bitcoin, he should be jailed and the keys to his prison cell must be thrown away.
Under Njoroge's stewardship, the CBK has issued statements and advisories warning Kenyan residents against trading or investing in cryptocurrencies. For instance, Bitcoin.com News reported in June 2022 that Njoroge, together with the Central Bank of Nigeria (CBN) deputy governor Kingsley Obiora, had cited cryptocurrencies' volatility as one of the reasons why they cannot become a widely used payment method.
Yet, despite Njoroge and the CBK's opposition, several studies have suggested that Kenyan residents' use of, or investment in, cryptocurrencies is growing. For example, the peer-to-peer crypto exchange Paxful recently revealed that its users from the country had digital assets valued at $125 million during the first hal...
|Flutterwave Kenya License Controversy: Fintech Giant Reportedly Applied ...
The Nigerian fintech unicorn, Flutterwave, reportedly said it submitted an application for a payment service provider license to the Central Bank of Kenya back in 2019. The fintech also said it has remained in constant contact with the central bank and is hopeful it will get the license. CBK Allegations
The Nigerian fintech giant Flutterwave has said it submitted an operating license application to the Central Bank of Kenya (CBK) back in 2019. Flutterwave's move to dispel concerns it may be operating illegally follows the CBK's decision to bar Kenyan financial institutions from having business dealings with fintech groups.
As previously reported by Bitcoin.com News, the CBK's directive to financial institutions was issued shortly after CBK governor Patrick Njoroge told journalists that Flutterwave and Chipper Cash were running money remittance businesses without licensing and authorization from the central bank. Similar allegations were also made by Kenya's Asset Recovery Agency, which went on to block Flutterwave's bank accounts holding more than $50 million.
After reports of the fintech's Kenyan licensing troubles emerged, Flutterwave reportedly responded by suggesting that its entry into this market had been 'through partnerships with banks and mobile network operators licensed by the Central Bank of Kenya.'
However, according to a report by Business Daily, Flutterwave now claims that in addition to applying for an operating license, it has worked with the CBK and is stil...
|Kenya is the African Leader in Crypto Adoption (Report)
A study conducted by the United Nations (UN) determined that 8.5% of Kenya's population own digital assets, which makes up around 4.25 million people. This makes the country a leader in cryptocurrency adoption across Africa, while globally, Ukraine ranks first, with 12.7% of its residents being HODLers.
Kenyans' Surging Appetite for Crypto
Kenya - an African nation considered a tech and innovation hub on the continent - has been tied to the cryptocurrency industry for years now. In 2020, amid the COVID-19 crisis, struggling citizens of the country turned to local digital assets (such as Sarafu) to aid their monetary issues.
According to a recent UN study, Kenyans' interest in crypto has increased in the following years, and currently, it is the leading African nation in terms of HODLers. The report stated that 8.5% of the domestic population, or over 4.2 million people own digital assets. In comparison, 7.1% of the South African residents and 6.3% of Nigerians have bitcoin or alternative coins.
It is worth noting that Kenya's crypto adoption rate surpasses top economies, including the United States (8.3%). However, it is hard to establish the value of digital currencies held by Kenyans due to the lack of supervision in the sector:
'The returns from cryptocurrency trading and holding are, as with other speculative trades, highly individual. On balance, they are overshadowed by the risks and costs they pose in developing countries. The sector is not regulated in the country and...
|Report: Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but ...
Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap
The Nigerian and Kenyan central bankers have said cryptocurrencies are too volatile to become an acceptable payment method. The bankers also insisted that cryptocurrencies pose a risk to financial stability, a Reuters report has said.
As per the report, the bankers namely, Kingsley Obiora, the deputy governor of the Central Bank of Nigeria (CBN) and the Kenyan central bank governor Patrick Njoroge, believe that a central bank digital currency has a better chance of narrowing the financial exclusion gap. The central bankers added that only a central bank digital currency (CBDC) can reduce the cost of transacting.
In the report, Obiora, who spoke at an International Monetary Fund (IMF) moderated virtual summit, is quoted explaining why his institution is opposed to cryptocurrency. He said:
The volatility it creates can become a source of instability in the system.
Kenya to Issue a CBDC
For his part, Njoroge is quoted in the report questioning what he believed to be the hype that is associated with cryptocurrencies. The Kenyan central bank governor nonetheless hinted that his institution may eventually regulate crypto assets as a 'wealth product.' Besides regulating the privately issued digital currenc...
|CryptoBlades: Guide and Review of the Interactive Play-to-Earn Game
The Play-to-Earn (P2E) gaming sector has grown into a powerful concept within the cryptocurrency industry as non-fungible tokens took flight and legitimized a new segment in the market.
Gaming has long been touted as one of the best applications for blockchain-based technology. Even though it’s still in its nascency, GameFi has proven to be a model that players enjoy.
For example, CryptoBlades — a blockchain and web-based NFT roleplaying game — attracted the interest of hundreds of thousands of users. Initially deployed on the BNB Chain (BSC), it expanded to other networks to achieve transaction efficiency and improved user experience. CryptoBlades was also named the Most Valuable Builder in the BSC incubation program.
The following is a complete guide on playing the game and an honest review of our experience playing CryptoBlades in 2022. You can also check our video guide on the game:
What is CryptoBlades?
As mentioned above, CryptoBlades is an innovative web-based NFT roleplaying game that launched on the BNB Chain (formerly - Binance Smart Chain). Developed by Riveted Games, CryptoBlades brings forward plenty of mechanisms that set the tone for future developments and trends in play-to-earn gaming.
Although it originally started on BSC, the game has expanded to other networks to achieve transaction efficiency, improve the gameplay experience, and maximize players’ earnings. At the time of this writing, in April 2022, the game is available on the f...
|Kenya Central Bank Governor: Low Smartphone Penetration Working Against ...
According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded.Central Bank Mulls Delaying CBDC Rollout
The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has suggested the lack of access to smartphones of more than half of Kenya's mobile phone users is working against its plan to launch a CBDC. He warned the central bank may be forced to delay its rollout of the CBDC as a result.
According to Njoroge's remarks published by Business Daily, proceeding with the rollout of the digital currency will likely see Kenyans without a smartphone being locked out. This blockade of non-smartphone users, in turn, works against the central bank's goal of further narrowing the proportion of the population that is financially excluded.
The CBDC will have a minimum viable technology requirement, which may be a sort of fourth-generation (4G) environment. There is an argument to be made that such a development could lead to greater financial exclusion such that some people may fall out of the financial system just because we have adopted a CBDC… This is something we need to be careful about.
The governor suggested the CBK may have to wait until Kenya has more smartphone users. As noted in the Business Daily report, out of the 59 million mobile devic...
|Report: Kenya Central Bank Governor Reiterates His Opposition to Cryptoc...
The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading Beneficial to a Few
The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has reiterated that his institution still opposes cryptocurrency transactions. The governor also suggested that Kenyan citizens must always be wary of investing in highly volatile asset classes such as cryptocurrencies.
In remarks published by the East African newspaper, Njoroge - who was addressing Kenyans that attended the World Consumer Rights Celebration Day - suggested that investing in cryptocurrencies is only beneficial to a few people. He explained:
There are people who are excited about cryptocurrencies because they see it as a sort of investment that they can win big because prices are going up quickly, so they believe they would see a huge return for their investment. But I think that is why we say for every person who wins something, there are hundreds who lose.
Njoroge also pointed out that crypto transactions are not only unregulated but such transactions could also be illegal. The governor is quoted in the Kenyan newspaper's report warning financial institutions that are caught facilitating cryptocurrency transactions that they risk losing their licenses.
Protecting the Public
|Bank of Canada and MIT to Conduct a Joint Research Project on CBDC
Canada's central bank collaborated with the Massachusetts Institute of Technology (MIT) to launch a twelve-month research project on central bank digital currency (CBDC). The study will inform the financial institution about the product's potential merits and its possible implementation in the monetary network.
Bank of Canada Catches the CBDC Wave
According to a recent announcement, the central bank of Canada joined a number of countries that are already actively exploring CBDCs. Specifically, it partnered with MIT on a one-year research project to explore how 'advanced technologies could affect the potential design of a CBDC.'
The initiative is part of the bank's broader development agenda on cryptocurrencies and fintech. The institution said the experiment will follow how CBDC interacts with the financial system. However, whether a CBDC will be introduced in Canada or this is just a research project with no follow-up remains unknown. The central bank informed it will provide further details on the outcome at the end of the experiment.
CBDC is the digital form of a country's fiat currency. Unlike the decentralized nature of private digital assets, it is totally controlled by the authorities. As such, it is no wonder that numerous politicians have argued that the financial product will be a better option than crypto.
Such is the case with the IMF's Managing Director – Kristalina Georgieva. Last month, she suggested that a 'prudently' designed CBDC could be 'safer' than ...
|Combining Bitcoin's Best Attributes With Features of Established F...
Deloitte believes Bitcoin and cryptocurrencies can help deliver a payment system that is fast, secure, effective, can facilitate efficient cross-border transactions, but there are challenges to overcome first.
In the latest study called 'State-sponsored cryptocurrency,' Deloitte provided a fresh perspective of a central bank's digital currency by revamping the traditional fiat system and adapting Bitcoin's innovation.
According to Deloitte, combining the best attributes of the technology of cryptocurrencies with the features of an established fiat currency under the sponsorship of a central bank would result in a new method of handling payments. It could revolutionize the current system by cutting costs, reducing errors, enhancing transfer speed without compromising privacy and anonymity.
The analysis also demonstrated that the foundation of a 'state-sponsored cryptocurrency' or a CBDC will be very much similar to Bitcoin.
Its differences, on the other hand, would include no cap on money supply (which could induce inflation similar to fiat currency), regulated with KYC/AML provisions, and centralization, among others. While maintaining that state-sponsored cryptocurrency or CBDCs may not replace Bitcoin, digital assets, or fiat in their entirety, Deloitte stated,
'So while the scenario posed by cryptocurrencies carries challenges, it could ultimately spawn a series of new opportunities that would free up capital for more productive uses, and transform the current...
|Kenyan Central Bank Document Discusses Benefits and Risks Posed by CBDC ...
Kenya's central bank has acknowledged in a recently released document that a central bank digital currency could potentially benefit the country's financial system. The bank, however, warned that rolling out a CBDC could also pose risks to the same. CBDC's Impact on Financial Stability
The Central Bank of Kenya (CBK) has suggested in a discussion paper that a central bank digital currency (CBDC) could potentially lead to enhanced cross-border payments and 'efficiency gains.' However, in a recently released document that discusses CBDCs, the bank acknowledges such digital currencies could also pose risks to the financial system.
For instance, in the document, the bank cites 'unknowns' as to how the digital currency would impact central banks' core functions of monetary policy, financial stability, and payment systems oversight. The CBK also regurgitates the financial disintermediation argument which is sometimes used by opponents of CBDCs. The document states:
If significant deposit balances are moved from bank deposits to CBDC, banks' ability for credit creation could get constrained. Since central banks cannot provide credit to the private sector, the impact on the role of bank credit needs to be well understood.
The document added that 'as banks lose a significant volume of low-cost transaction deposits' this may lead to an increase in the cost of credit. The central bank, meanwhile, claimed that launching a CBDC could possibly lead to financial exclusion 'if the required t...
|Kenya Explores CBDC by Starting a Public Discussion
The Central Bank of Kenya (CBK) said a potential CBDC could positively impact the local financial system. Nonetheless, the institution introduced a discussion paper to find out what the general public thinks on the matter.
Seeking Society's Opinion
According to the CBK, launching a central bank digital currency could flatten the multi-layered correspondent banking structure and enhance cross-border payments. The latter will become more efficient and less costly, the organization added.
Despite its favorable stance on such a monetary product, the central bank released a discussion paper to examine if locals are supportive. They will be able to analyze both threats and opportunities, which a CBDC might bring forth. Those willing to participate have until May 20, 2022, to submit their comments.
Press release: Issuance of Discussion Paper on Central Bank Digital Currency (CBDC) for Public Comments. The Discussion Paper examines the applicability of a potential Central Bank Digital Currency (CBDC) in Kenya. pic.twitter.com/8vdcQNz7cG
— Central Bank of Kenya (@CBKKenya) February 10, 2022
Kenya's central bank added that a CBDC could potentially shield society from 'the risk of new forms of private money by providing safer and more trustworthy payment services than new forms of privately issued money-like instruments, such as stablecoins.' On the other hand, the institution did not rule out the possibility that such a financial product presents an opportunity for cyberattack...
|Central Bank Governor Says Kenya's Position on Cryptocurrencies Ha...
Kenya's position on cryptocurrencies is still unchanged the governor of the Central Bank of Kenya (CBK), Patrick Njoroge has said. Njoroge latest remarks come as Kenya continues to cement its position as one of the countries on the African continent that has the highest adoption of cryptocurrencies.
CBK's New Stance of Cryptocurrencies to Be Unveiled Soon
The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has said Kenya's stance on cryptocurrencies remains unchanged. Njoroge, who made the comments soon after the CBK's monetary policy announcement, revealed however that the central bank will be talking more about cryptocurrencies in the near future.
As noted in the Kenyan Wallstreet report, the governor's reiteration of the CBK's stance on cryptocurrencies is coming more than six months after reports emerged that Kenyan banks were issuing alerts that urged clients to desist from the practice of trading cryptocurrencies.
Njoroge's reaffirmation of the central bank's position on cryptos is also coming in the wake of reports that Kenya is now ranked the African country with the highest percentage of its population that hold cryptocurrency. In addition, Kenya is expected to continue leading the world's peer-to-peer cryptocurrency market in 2022.
Central Bank Governor Urges Patience
Yet, despite these reports and the data suggesting that Kenya had Africa's second-largest peer-to-peer bitcoin traded volumes in 2021, Njoroge appeared to suggest that his institution wi...