SEC Greenlights NASD’s Digital Securities Platform


The Nigerian Securities and Exchange Commission (SEC) has granted its approval to NASD Plc, allowing the launch of the Digital Securities Platform (N-DSP) powered by Blockstation. Operating under the Regulatory Incubation Programme, this milestone is hailed as a significant leap towards fostering innovation, transparency, and inclusivity in the Nigerian capital markets.

NASD Plc, in collaboration with Blockstation Inc., actively collaborated with the SEC to shape a regulatory framework for crypto and digital assets. Following this, the Central Bank of Nigeria lifted the ban on digital asset trading, setting the stage for transformative developments in the financial landscape.

Eguarekhide Longe, Managing Director of NASD Plc, highlighted the objective of empowering millions of young investors with access to promising digital assets, ensuring confident and secure purchases in a compliant environment. Nigeria, currently ranking second globally for blockchain wallets, positions itself to support high-quality assets thriving on the blockchain.

The launch of N-DSP represents a groundbreaking initiative, providing issuers with a gateway to raise capital from the public using digital assets. This move is expected to directly impact traditional debt and equity markets, along with traditionally illiquid assets. Longe emphasised the potential of digital sovereign bonds to address infrastructure funding needs and resolve Foreign Exchange challenges in the country.

Longe further detailed the promising opportunities for the diaspora; with $20 Billion in annual remittances, to invest in their home country. Tokenisation of entertainment assets, including publishing rights, aims to empower and monetise Nollywood, the world’s largest film content creators, currently facing undercapitalisation.

Moreover, the platform foresees the introduction of new markets like tokenised real estate and mortgage-backed securities (MBS) to address challenges such as the 28 Million housing deficit; creating substantial market opportunities. In the dynamic economic landscape of Nigeria, the confluence of digital assets and traditional financial institutions signals a transformative era, unlocking previously untapped markets.

Jai Waterman, CEO of Blockstation, expressed confidence in the platform’s pivotal role in propelling Nigeria into a new era of economic growth by integrating cutting-edge technology to meet the needs of its substantially large youthful population. The approval from SEC marks the beginning of a revolutionary era in financial opportunities for Nigeria.







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