In furtherance of its commitment to enabling innovation that would deepen the capital market while guaranteeing the protection of investors, the Securities and Exchange Commission(SEC), yesterday granted two Digital Assets Exchanges “Approval-in-Principle” to commence operation under the Accelerated Regulatory Incubation Program (ARIP).
The companies granted approval are Busha Digital Limited and Quidax Technologies Limited.
Disclosing this in a statement, the Commission said the cohort comprises of two Digital Asset Exchanges, four digital asset Offering Platforms and one Digital Asset Custodian.
The SEC in a statement said “Busha operates a digital exchange that facilitates the buying and selling of crypto assets with fiat currency. It enables individuals and businesses in Nigeria and other developing economies to access basic digital asset investment services. Busha’s customers use the mobile and web applications to buy, sell, store, send, receive, trade and invest and make payments in cryptocurrencies.
“Quidax Technologies Limited operates a cryptocurrency trading platform in Nigeria. The platform leverages blockchain technology to list and trade already issued crypto tokens (assets).
“The services are provided via a proprietary blockchain owned and controlled by Quidax. The exchange platform is both web and mobile enabled for ease of access and use.”
