Binance Begins Discussion With Nigeria About Developing Blockchain-Powered Electronic Economy

As part of Binance’s expansion quest, the company has commenced talks with Nigeria. And this talk is about developing a blockchain-powered digital economy. Over the past few months, Binance has been entering different markets, as well as establishing Onsite offices in different areas.

Binance Entry Into Nigeria
The latest electronic area will assist entrepreneurs In west Africa to key into Blockchain Tech. Going by the announcement made by the Nigeria Export Processing Zones Authority the interaction between Binance and Nigeria is targeted at developing an electronic hub.

Nigeria’s response to the crypto world generally has been very encouraging. When it comes to crypto adoption Nigeria has recorded notable developments. The P2P Bitcoin trading has become one of the rapidly growing cryptocurrency markets. This market has surpassed a one billion dollar trading volume between January to June This year (2022).

Facts from Paxful which is a P2P crypto exchange platform, revealed that Nigeria stands amidst the platform’s major market worldwide, as the nation’s trade volume for the 1st half of this year $400 million, was combined with that of last year (2021) which was $760 million.

Other Developments
Nigeria’s Stock Exchange as well revealed its plans to adopt blockchain technology, to create a blockchain-powered platform in 2023. This is an effort to pump up investment in the country’s regional economy.

Furthermore, the Apex Bank’s prohibition of Nigerian citizens from using their bank accounts to operate crypto transactions, has not been able to stop the youths in the country from making use of crypto. Also, Nigeria’s SEC not long ago disclosed fresh regulations for the country’s crypto industry. This development stays in favor of blockchain technology.

Teach yourself technical analysis: Technical Analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Ltd. ADVFN Ltd does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Capital.com

• 

  John Cadogan

• 

  Anton F Balint

• 

  ActivTrades