The Nigerian Export Processing Zones Authority (NEPZA) is on plans to create a virtual free zone focused on blockchain and the digital economy, in a press release on Saturday. cryptocurrency stock market Binance He said he was in talks with
Nigeria Aims to Build a Cryptocurrency City Similar to Dubai
NEPZA, which helps regulate and operate free zones in the country, wants the result to be similar to Dubai’s virtual free zone.
In December last year, Binance decided to help Dubai establish an industry hub for global digital assets, in order to foster long-term economic growth and encourage a number of crypto companies to license in the Emirate of Dubai.
Adesoji Adesugba, managing director of NEPZA, said in a statement:
“Our goal is to create virtual free zones to take advantage of the nearly $1 trillion virtual economy in the blockchain and digital economy sector.”
The move comes after the country’s Central Bank launched the world’s second central bank digital currency last October, after the Bahamas.
The country’s digital currency, eNaira, was used to process 4 billion naira ($9.2 million) worth of transactions as of August.
Binance has yet to make any statement on the matter.
However, competition is increasing in the global central bank digital currencies sector. In this area, the People’s Republic of China is leading the way, which is already testing its digital currency as a pilot project in many of its provinces.
*Not investment advice.
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