The Securities and Exchange Commission (SEC) has authorised NASD Plc, which operates the Over-the-Counter (OTC) Securities Exchange, to launch its Digital Securities Platform (N-DSP).

The platform has been touted to transform the way digital securities are issued, traded, and settled, democratizing access to capital markets and leveraging blockchain technology to enhance accessibility while minimizing costs.

NASD, in collaboration with Blockstation Incorporated under the Regulatory Incubation (RI) Programme, engaged with the SEC to shape a regulatory framework for crypto/digital assets.

Blockstation, as a technology partner, will provide a robust enterprise blockchain-driven platform, originating and popularizing the importance of regulated tokenized IPOs, generally called Security Token Offerings (STOs).

The operations of the N-DSP during the RI Program will be regulated by SEC and participating institutions, such as custodians, brokers, and issuing houses.

This milestone signifies a noteworthy stride toward fostering new-age innovation, enhanced transparency, and deepening trust and inclusion in Nigerian capital markets.

This is coming after the Central Bank of Nigeria (CBN) lifted the ban on digital asset trading like cryptocurrency last month.

Speaking on the potential of the platform, the Managing Director of NASD Plc, Mr Eguarekhide Longe, said it would allow fresh investors to enter the capital market due to attractive digital offerings.

“Our objective is to empower millions of young investors with access to promising digital assets, ensuring they can confidently purchase 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,” he stated.

Through this nascent approach, NASD is providing issuers with a gateway to raise capital from the public using digital assets, marking a groundbreaking initiative.

This endeavour is set to directly influence traditional debt and equity markets, along with traditionally illiquid assets. The opportunity for digital sovereign bonds can provide the necessary capital for infrastructure while helping resolve FX challenges in the country.

The firm is also looking to tap into the diaspora, which currently provides $20 billion in annual remittances, which can be a promising way to invest their money back home.

Adding his input, the chief executive of Blockstation, Mr Jai Waterman, said, “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 play a pivotal role in propelling Nigeria into a new era of economic growth.”

FreeStuffsNG:
This is coming after the Central Bank of Nigeria (CBN) lifted the ban on digital asset trading like cryptocurrency last month.

The firm is also looking to tap into the diaspora, which currently provides $20 billion in annual remittances, which can be a promising way to invest their money back home.


Nigeria is in the hands of the most brilliant of the most brilliant among us. There is so much policy alignment and I pity anyone doing siddon look now. Massive opportunities are being unlocked! You will lose!!

This is the best time to key into these opportunities. Quit your cycle of losers and perpetually toxic people who blame everyone and govt for being underachievers.

God bless Nigeria for ever!

FreeStuffsNG:
This is coming after the Central Bank of Nigeria (CBN) lifted the ban on digital asset trading like cryptocurrency last month.

The firm is also looking to tap into the diaspora, which currently provides $20 billion in annual remittances, which can be a promising way to invest their money back home.


Nigeria is in the hands of the most brilliant of the most brilliant among us. There is so much policy alignment and I pity anyone doing siddon look now. Massive opportunities are being unlocked! You will lose!!

This is the best time to key into these opportunities. Quit your circle of losers and perpetually toxic people who curse, cyberbully, criminally defame and blame everyone and govt for their being underachievers. Visit NASD website and find how you can open a trading account first thing tomorrow!

This is now regulated and all transactions will be monitored against fraudsters money launderers and unpatriotic elements who turned crypto into ponzi schemes and financial mania.

We don't want the kind of fraudulent scam called crypto being promoted before. Now that it will be regulated and monitored by SEC and CBN, we support it! What we had before was a ponzi and that's why one young guy can stay in Bahamas and steal billions of the hard earned money of people. If govt doesn't regulate it, it's not safe!

God bless Nigeria for ever! Check my signature for free stuffs!

sharpman1:


SEC has denied the claim. SEC says their account was compromised.

sharpman1:
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HeatSeeker:


LOL!

Mrchippychappy:
After you put your crypto dem go ban am again. In other words your money don enter one chance

Flame333:
Digital economy...

Wetin I sabi..

Congratulations to all beneficiaries