𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲: 𝗧𝘄𝗼 𝗰𝗿𝘆𝗽𝘁𝗼 𝘀𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝘀𝘂𝗯𝗺𝗶𝘁 𝗹𝗶𝗰𝗲𝗻𝗰𝗲 𝗮𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝘁𝗼 𝗡𝗶𝗴𝗲𝗿𝗶𝗮𝗻 𝗦𝗘𝗖

One month after Nigeria’s Central Bank lifted a ban on crypto, startups are now pushing for SEC licence

Two crypto startups have applied for licences from Nigeria’s Security Exchange Commission (SEC) after the central bank lifted its 2-year ban on crypto-related bank accounts, a highly-placed source at the exchange told TechCabal, signaling a push by crypto startups to take advantage of a recent u-turn by regulators.

Quidax and Luno, two popular crypto exchanges, reportedly began speaking to the SEC in October 2023, a source familiar with the talks told TechCabal.

Luno told TechCabal that it does not comment on discussions or potential discussions with regulatory authorities.

Quidax declined to comment for this story.

Another crypto company reportedly in talks with regulators is Yellow Card. “We have not made any public moves yet, but it is in the process,” said one person with knowledge of the company’s business.

Last week, Yellow Card announced

a partnership with American crypto exchange platform Coinbase that will allow Nigerians and people in 19 other African countries to use Coinbase’s wallet, purchase stablecoin (USDC), make remittances, save, and do everyday commerce on the platform.

https://techcabal.com/2024/01/23/exclusive-two-crypto-startups-have-applied-for-sec-licence/