Ripple director Reece Merrick unveiled a strategic roadmap for the company's new stablecoin RLUSD, naming Turkey, Nigeria and the UAE as priority markets for expansion. The announcement signals a targeted push into high-adoption and remittance-heavy regions where stable local settlement could matter most.
Blockchain.com announced expansion into Ghana after reporting a 700% trading surge in Nigeria, saying rising demand across West Africa is driving the move. The brokerage cited accelerating user activity across the broader Sub-Saharan region as the rationale.
President Bola Tinubu has launched a regulatory framework establishing the Virtual Asset Regulatory Council (VARC) to oversee Nigeria's digital asset market. The aim is to bring more supervision, clarity, and investor protection to a fast-growing sector.
The Nigerian Security and Civil Defence Corps (NSCDC) arrested an alleged operator of a fraudulent crypto investment platform called Polyfarm, which police say targeted Nigerians at scale. The development highlights ongoing fraud risks in the local crypto ecosystem and signals renewed enforcement activity.
Nigeria will monitor cryptocurrency transactions under the Nigeria Tax Administration Act (NTAA) 2025, signaling tougher tax enforcement for digital assets. The announcement raises privacy and compliance concerns among users and exchanges.