Major crypto exchange Binance is expanding its presence in Africa by launching a partnership with Nigeria’s government bodies to construct a Dubai-like digital economic zone.
“Our goal would be to engender a flourishing virtual free [zone] to benefit from an almost trillion dollar virtual economy in blockchains and digital economy,” Adesoji Adesugba, Md from the Nigeria Export Processing Zones Authority, was quoted as saying inside a statement. No further information regarding the work were provided.
This past year, a report released by blockchain analysis company Chainalysis rated Nigeria because the sixth country within the Global Crypto Adoption Index, preceded by Vietnam, India, Pakistan, Ukraine, and Kenya, correspondingly.
At the end of October 2021, Nigeria’s President Muhammadu Buhari launched a main bank digital currency (CBDC), eNaira, for the exact purpose to boost the operations from the country’s payments system. In those days, the central bank stated the project continues “with a number of further modifications, abilities, and enhancements towards the platforms.”
In August this season, the Central Bank of Nigeria Governor Godwin Emefiele stated the eNaira has been utilized to handle transactions worth NGN 4bn (USD 9.2m) since its introduction in October 2021, adding the eNaira application continues to be downloaded 840,000 occasions coupled with about 270,000 active wallets in August.
____
Find out more:
– Binance to assist South Korean Town of Busan Launch a ‘Digital Assets Exchange’
– Bollywood-like Drama Erupts as CZ Moves to Distance Binance from India’s WazirX Exchange
– Inflation Is Spiking in Zimbabwe (Again). Why High-Rates Of Interest Aren’t the solution
– Central Africa Rolls Out Sango Gold coin Among Transparency, Credibility Worries
