Nigeria’s Securities and Exchange Commission has admitted three virtual asset service providers, including Blockchain, into its Accelerated Regulatory Incubation Programme as the regulator moves to strengthen oversight of the country’s expanding digital asset market.
According to the SEC, the other firms admitted are Pisi Payments Solution Limited and Yellow Card Financial Limited.
The admission grants the companies Approval-in-Principle to operate within the programme’s defined scope, subject to meeting regulatory, operational and supervisory requirements.
The approval does not constitute a final operating licence. Instead, it permits the companies to operate within the SEC’s controlled regulatory framework while demonstrating compliance with requirements applicable to virtual asset businesses.
For Blockchain, the admission represents a significant step in its efforts to expand its footprint in Nigeria, one of Africa’s largest and most active digital asset markets.
Blockchain said its participation in the programme would enable it to work closely with the SEC as the regulator assesses digital asset business models, tests safeguards, and develops a long-term regulatory framework for the sector.
“Nigeria is one of Africa’s most important digital asset markets and participating in the SEC’s ARIP is an important step forward in our long-term commitment to the country,” the General Manager for Africa at Blockchain, Owen Odia, stated.
The company said the programme would also provide a controlled environment for it to bring its global experience to the Nigerian market while collaborating with regulators to promote consumer protection, transparency, and responsible innovation.
The admission further strengthens Blockchain’s engagement with Nigerian regulators as the country works to establish clearer rules for the rapidly expanding digital asset industry.
Blockchain said its participation in Nigeria’s regulatory programme is part of its broader global strategy of working with authorities within established regulatory frameworks. The company said it has obtained licences and registrations across several jurisdictions, including the United Kingdom, the European Union and the Cayman Islands.
The SEC’s Accelerated Regulatory Incubation Programme is structured as a regulatory sandbox, providing a controlled environment where fintech and digital asset firms can test products and business models under regulatory supervision before obtaining full authorisation.
Through the programme, the commission can monitor the operations of virtual asset service providers, assess emerging risks and develop safeguards in areas such as investor protection and anti-money laundering compliance.
For Blockchain, participation provides an opportunity to test its services among Nigerian users while working with regulators and local stakeholders to strengthen compliance and consumer protection measures.
The company said Nigeria remains a key market in its African expansion strategy, pointing to strong demand for digital assets and a regulatory environment that is becoming increasingly defined for operators seeking to serve the country.
