- License Acquisition
- Quidax Leadership Opinion
- Impact on the Crypto Community
African-founded cryptocurrency exchange Quidax has received a provisional operating license from Nigeria’s Securities and Exchange Commission (SEC).
License Acquisition
On Thursday, Quidax announced that it has become the first crypto exchange to receive a provisional operating license from Nigeria’s SEC. This license allows Quidax to function as a registered crypto exchange under the nation’s formal recognition and regulatory oversight of the cryptocurrency industry.
Quidax Leadership Opinion
Buchi Okoro, Co-founder and CEO of Quidax, stated, “At Quidax, the customer is our priority; every decision we make is to ensure that customers transact on our platform easily, safely, and with confidence. We commend the SEC under the leadership of Dr. Emomotimi Agama for taking the bold step to bring order, confidence, and investor protection to our industry. This is a big win for Nigeria’s embrace of crypto, and we are glad to be a part of this historical moment.”
Impact on the Crypto Community
With the license granted by Nigeria’s SEC, Quidax is now able to collaborate with banks and other financial institutions, subject to the Central Bank of Nigeria’s approval. This license also fosters trust in cryptocurrency and protection for crypto enthusiasts in Nigeria. In an email sent out earlier today, Quidax thanked all of its customers and employees who have supported the business since the beginning. The email also restated Quidax’s unwavering commitment to innovation, security, and compliance.
The provisional license from Nigeria's SEC marks a significant step in the development and regulation of cryptocurrencies in Africa, providing trust and protection for all market participants.
