SEC Approves NASD Plc To Launch Digital Securities Platform

Date:

January 13, 2024.

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Azonuchechi Chukwu.

The Nigerian Securities and Exchange Commission (SEC) has approved NASD Plc to launch its Digital Securities Platform (N-DSP), powered by Blockstation, under the Regulatory Incubation (RI) Programme.

According to NASD in a press statement made available to newsmen, this follows the lift of the ban on trading on digital assets by the Central Bank of Nigeria (CBN), which signifies a major stride towards fostering a new age of innovation that enhances transparency and deepens trust and inclusion in the Nigerian capital markets.

NASD in collaboration with Blockstation Incorporation, had engaged with the SEC to shape a regulatory framework for crypto and digital assets.

The development of regulations and the subsequent approval for the launch of the NASD Digital Securities Platform (N-DSP) mark a significant outcome of this collaborative initiative.

“Our objective is to empower millions of young investors with access to promising digital assets, ensuring they can make purchases with confidence 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.” explained Eguarekhide Longe, Managing Director, NASD Plc.

Longe noted that NASD is providing issuers with a gateway to raise capital from the public, using digital assets, marking a groundbreaking initiative.

He added that this endeavour is set to directly influence traditional debt and equity markets, along with traditionally illiquid assets.(www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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