The Securities and Exchange Commission (SEC) has given its approval to NASD Plc to launch the Digital Securities Platform (N-DSP), powered by Blockstation, under the Regulatory Incubation (RI) Programme. This landmark decision, coming on the heels of the Central Bank of Nigeria (CBN) lifting the ban on trading digital assets, represents a significant leap toward fostering innovation, transparency, and inclusivity in the Nigerian capital markets.
NASD Plc, in collaboration with Blockstation Incorporation, actively engaged with the SEC to shape a regulatory framework for cryptocurrency and digital assets. The collaborative efforts have culminated in the development of regulations and subsequent approval for the launch of the NASD Digital Securities Platform (N-DSP).
Eguarekhide Longe, the Managing Director of NASD Plc, expressed the platform’s objective to empower millions of young investors by providing access to promising digital assets in a compliant and secure investment environment. He emphasized that Nigeria currently ranks second globally for blockchain wallets, positioning the NASD Exchange 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,” stated Longe.
The approval from the SEC comes at a pivotal moment, aligning with the changing landscape of financial markets globally and Nigeria’s growing position in the blockchain ecosystem. With the ban on digital assets trading lifted by the CBN, regulatory frameworks like the one developed in collaboration with NASD Plc and Blockstation are crucial for providing a secure and compliant avenue for investors to participate in the digital economy.
The launch of N-DSP is expected to contribute to the nation’s economic growth by facilitating a seamless integration of traditional financial structures with emerging technologies.
