The Securities and Exchange Commission (SEC) recently approved NASD to launch its Digital Digital Securities Platform (N-DSP), powered by Blockstation, under the Regulatory Incubation (RI) Programme.
This development came after the CBN lifted the ban on the trading of digital assets, which shows Nigeria's acceptance of the crypto ecosystem, which aids in enhancing transparency and deepens trust and inclusion in the Nigerian capital markets.
In collaboration with Blockstation Incorporation, NASD applied to the SEC to gain approval to shape a regulatory framework for crypto and digital assets. Based on the report, the development of regulations and the subsequent approval for the NASD Digital Securities Platform (N-DSP) launch marks a significant outcome of this collaborative initiative.
During the launch, Equarekhide Longe, Managing Director, NASD Plc, said,
- Our objective is to empower millions of young investors with access to promising digital assets, ensuring they can confidently make purchases in a completely compliant and secure investment environment. Nigeria currently ranks second globally for blockchain wallets, and our exchange is poised to support high-quality assets thriving on the blockchain.
- In a nation marked by dynamic economic forces, the confluence of digital assets and traditional financial institutions signals a transformative era for Nigeria’s economic landscape. The integration of cutting-edge technology to address the needs of and captivate the substantially large youthful population is set to unlock previously untapped markets. We are confident that this platform will be pivotal in propelling Nigeria into a new era of economic growth and development.
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