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The New Development Bank (NDB), commonly called the BRICS bank, has officially authorized a new country to join the ranks. The multilateral bank, which was launched in 2015 to provide loans for developmental projects among BRICS nations is now expanding. The expansion will allow other developing countries to receive funds for projects and not be dependent on the World Bank. Also Read: BRICS: Chinese Yuan Beats Euro To Become the Second Most Used Currency This puts the BRICS bank in a unique position as NDB is looking to fund emerging economies. The NDB disburses project-based loans for building seaports, highways, and airports, among other developmental aspirations. The bank earns interest as developing nations pay up after an agreed date to clear payments. Also Read: BRICS Endorses New Country To Join the Alliance BRICS Bank Officially Allows Algeria To Join the NDB Source: aboutalgeria.com The BRICS bank (NDB) has officially allowed Algeria to join the ranks and become a member. Alge...

Source: Bitwise Bitwise Asset Management, a leading global crypto asset manager, has expanded its reach into the European market by acquiring London-based ETC Group . This strategic move adds to Bitwise’s portfolio and elevates its total assets under management (AUM) to over $4.5 billion. We’re excited to share that Bitwise has acquired ETC Group, the London-based digital asset manager and creator of Europe’s largest physical Bitcoin ETP (BTCE). The acquisition deepens our industry-leading suite of crypto products and brings Bitwise clients access to global… pic.twitter.com/RTSrrokBo3 — Bitwise (@BitwiseInvest) August 19, 2024 Acquisition Details On August 19, 2024, Bitwise announced its acquisition of ETC Group, a prominent issuer of exchange-traded products (ETPs) in Europe. The financial terms of the deal have not been disclosed. This acquisition includes ETC Group’s suite of nine European-listed crypto ETPs, which Features popular products such as t...