Quidax Marks a Milestone as Nigeria's First SEC Authorized Crypto Exchange

Lagos, Nigeria, August 30, 2024 – On Thursday, Quidax, the African-founded crypto exchange, made an exciting announcement revealing its status as the first crypto exchange to be granted a provisional operating license from Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. Quidax This newly acquired license from the SEC allows Quidax to operate officially as a regulated crypto exchange, a crucial step forward for Nigeria as it begins to implement necessary regulations and oversight into the burgeoning cryptocurrency market.

Reflecting on this achievement, Buchi Okoro, Co-founder and CEO of Quidax, expressed his thoughts: 'Our customers are at the heart of everything we do. Each decision we enact is aimed at facilitating safe, simple, and confident transactions on our platform.We commend the SEC, under Dr. Emomotimi Agama's guidance, for taking this significant initiative to ensure order, build confidence, and protect investors within the sector. This is a monumental moment for Nigeria's acceptance of cryptocurrency, and we are thrilled to be a part of this history.'

Buchi also praised Nigerian regulators for their cooperation with industry stakeholders to formulate guidelines aimed at spurring innovation and fostering trust in the emerging crypto landscape. He emphasized that this momentous step in crypto regulation places Nigeria ahead of the curve compared to other countries.

With the SEC's license now in hand, Quidax can explore partnerships with banks and financial institutions, pending approval from the Central Bank of Nigeria. This development also enhances trust and safeguards for crypto enthusiasts across the nation.

In a message sent earlier today, Quidax expressed gratitude towards all its customers and employees who have been part of its journey since inception.

The communication noted that this SEC approval acts as a significant boost for Nigeria's crypto community, underscoring the dedication of employees towards safety, security, and compliance. It reiterated Quidax’s firm commitment to innovation, security, and regulatory adherence.

Quidax is designed to simplify the processes of buying, selling, storing, and transferring cryptocurrencies for users. Additionally, it facilitates over-the-counter (OTC) trading and provides fintech firms with the necessary tools to offer crypto services via a dedicated API.

About Quidax

Quidax is an African-founded cryptocurrency exchange Founded in 2018, Quidax has garnered a customer base spanning over 70 countries.

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