Quidax Breaks New Ground with Nigeria’s First SEC Crypto License

Quidax, a cryptocurrency exchange founded in Africa, has set a new standard by becoming the first to receive a provisional operating license from Nigeria’s Securities and Exchange Commission (SEC). This milestone represents a significant step in the formal regulation of the cryptocurrency market in Nigeria, offering new legitimacy to the digital assets sector.

Securing this license allows Quidax to operate as a recognized digital assets exchange within Nigeria, marking the beginning of official regulatory oversight in the country’s burgeoning cryptocurrency industry. Buchi Okoro, Quidax’s co-founder and CEO, praised the SEC’s initiative, particularly the leadership of Dr. Emomotimi Agama. Okoro noted that this regulatory progress not only ensures user protection and confidence but also places Nigeria at the forefront of global crypto regulation.

Building Trust and Expanding Partnerships

With this new regulatory backing, Quidax is poised to strengthen its partnerships with banks and financial institutions throughout Nigeria. These collaborations, pending approval from the Central Bank of Nigeria, are expected to enhance trust among cryptocurrency users and investors. This development promises a more secure and reliable platform for cryptocurrency transactions in the country.

Quidax’s achievement highlights the growing importance of regulatory frameworks in ensuring the safe and sustainable growth of the cryptocurrency industry.