Nigeria’s SEC to Allow Tokenized Equity and Property on Trial Basis
Nigeria’s SEC is considering allowing tokenized coin offerings backed by equity, debt, or property but “not crypto” on licensed digital asset exchanges. On regulated platforms, the Nigerian securities regulator is considering allowing digital asset offers backed by tangible assets but not cryptocurrencies. Bloomberg reports that Nigeria’s Securities and Exchange Commission (SEC) is considering allowing tokenized […]
Lazerpay Goes Dark: Nigerian Crypto Startup Fails to Secure Funding
Nigerian crypto and Web3 startup Lazerpay has announced that it will be shutting down its operations after failing to raise funds in a funding round. The startup, which launched in 2021, offered a platform for merchants and users to accept and make payments in cryptocurrencies and other Web3 assets. Lazerpay was one of the first […]
MetaMask, MoonPay partner to enables direct crypto purchases in Nigeria
MetaMask’s expansion of direct on-ramps with local banks in Nigeria facilitates self-custody crypto acquisitions and eliminates the need for centralized exchanges. ConsenSys, the parent company of MetaMask, announced on March 21 a new interface with crypto-fintech MoonPay, allowing customers in Nigeria to acquire cryptocurrencies using rapid bank transfers. The new feature is available on the […]
Nigeria to launch stablecoins, ICOs legal framework
Nigeria has expressed willingness to allow the existence of private stablecoins in the country with its most recent central bank policy document noting the need to establish a legal framework for stablecoins. The Central Bank of Nigeria (CBN) research, titled “Nigeria Payments System Vision 2025,” is 83 pages long and examines the creation of a […]
Nigeria to pass bill recognizing Bitcoin, cryptos
According to the chairman of the House of Representatives Committee on Capital Markets, Babangida Ibrahim, a bill recognizing the use of Bitcoin and other cryptos will allegedly soon be passed by the Nigerian government. According to the article, the local Securities and Exchange Commission would be able to “recognize bitcoin and other digital monies as […]