Nigerian officials are in talks with Binance to set up a digital realm that will help it fast-track blockchain technology.
Nigeria, Africa’s most populous country, will leverage digital technology to help shift the economy away from crude, leveraging an increasingly connected and young population.
Nigeria Aims to Build Digital Zone with Binance
Nigerian authorities and cryptocurrency platform Binance Holdings Ltd. are in talks to establish a digital economic zone that will help entrepreneurs fast-track blockchain technology in the West African country.
In the statement made by the Nigerian Export Processing Zones Authority, it is stated that with Binance partnership, it is aimed to establish a digital center similar to the Dubai digital region.
Nigeria Exchange Ltd. plans to launch a blockchain-enabled platform next year to deepen trading in the stock market, while the government has made regulations for trading in digital assets this year.
According to a study by CoinGecko, Nigerian citizens have shown more interest in cryptocurrencies than any other country since digital assets began to decline in April. With the digital hub, the country’s already existing interest in the crypto sector could increase even more.
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