Crypto users can now trade on 3 more apps under Nigeria's rules

Nigeria's Securities and Exchange Commission (SEC) has cleared three additional Virtual Asset Service Providers (VASPs) for admission into its Accelerated Regulatory Incubation Programme (ARIP), expanding the number of digital asset firms operating under the regulator's structured oversight framework to 14.

The newly admitted firms are Pisi Payments Solution Limited, BC Access Nigeria Limited — the local entity of global crypto platform Blockchain.com — and Yellow Card (YC) Financial Limited, the Nigerian arm of the pan-African crypto trading platform, according to a Nairametrics report published 15 August 2026. The three entities will receive Approval in Principle (AIP), allowing them to operate within the defined scope of ARIP subject to conditions stipulated by the Commission.

The admission of Blockchain.com and Yellow Card — major international and pan-African crypto platforms — signals that Nigeria's regulatory sandbox is attracting established global players, not just local startups. Both firms already service large user bases across Africa, and formal recognition under Nigerian securities law gives them a supervised pathway to full registration in one of the world's highest-adoption crypto markets.

How ARIP works

ARIP is a pre-licensing sandbox framework created by the SEC to onboard VASPs and Digital Investments Service Providers (DISPs) seeking full registration. The Commission issued its formal Framework on Accelerated Regulatory Incubation Programme on 21 June 2024, with the programme operationalised around 28 June that year, according to a Templars Law explainer.

To qualify, applicants must be incorporated with the Corporate Affairs Commission, maintain a physical office in Nigeria, and have their CEO or managing director resident in the country. Entities first complete an initial assessment via the SEC ePortal, then submit a formal application steered by a registered Nigerian solicitor or adviser. The application must include a sworn declaration, detailed operational plan, business model, and operational rules covering anti-money laundering and counter-terrorism financing requirements, as set out in the SEC's ARIP checklist for VASP onboarding. Where applicable, applicants must also present no-objection or approval letters from relevant sectoral regulators such as the Central Bank of Nigeria.

Once an application is reviewed, the SEC may grant Approval in Principle — a preliminary authorisation allowing the VASP or DISP to operate within ARIP while working toward full registration. Firms must comply with SEC-specified conditions during the operational phase, including robust internal controls, regular reporting, and adherence to AML and CTF obligations, before they can apply for final registration.

Earlier cohorts

The latest admission builds on earlier ARIP intakes. On 3 July 2026, the SEC admitted seven companies — including Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd, and Blockvault Custodian Ltd — all receiving Approval in Principle. Subsequent clearances added GIGX Technologies and KuCoin Nigeria Limited, as reported by BusinessDay. With the three new entrants, total ARIP participants now stand at 14.

What's next for Nigeria's crypto market

The ARIP expansions sit within a broader digital assets regulatory framework tied to Nigeria's updated Investments and Securities Act, which formally brought virtual asset exchanges and custodians into the SEC's remit. The Commission has separately issued Rules on Issuance, Offering and Custody of Digital Assets, which require VASPs to be structured as a body corporate and custodians to implement risk-management frameworks. Regional commentary has noted that Nigeria's operational sandbox framework gives the country a compliance lead over peers like Kenya, Ghana, and South Africa, where comparable crypto sandboxes are either absent or less advanced, according to CSC Africa analysis.

For Nigerian crypto users and founders, the practical effect is a clearer route to using and building on platforms that operate under SEC supervision rather than in a regulatory grey zone. The three newly admitted firms now enter a monitored operational phase, where compliance performance will determine whether they secure full licences to serve the Nigerian market long-term.