The Securities and Exchange Commission (SEC) has admitted seven new digital asset companies into its Accelerated Regulatory Incubation Programme (ARIP), expanding regulatory oversight of Nigeria’s growing cryptocurrency sector.
The newly admitted firms—Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd and Blockvault Custodian Ltd—have received Approval-in-Principle (AIP), allowing them to operate under the SEC’s regulatory sandbox subject to compliance with supervisory requirements.
The Commission clarified that the AIP is not a final operating licence but confirms that the firms have met the admission requirements for participation in the programme.
The latest admissions build on the approval granted to crypto exchanges Quidax and Busha in 2024 as part of the SEC’s efforts to establish a structured regulatory framework for virtual asset service providers.
Luno Nigeria described the approval as a major milestone, saying it would strengthen its operations and support expansion into institutional digital asset services.
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