Conflux Network, a leading global cryptocurrency network, expresses satisfaction with the Central Bank of Nigeria (CBN)’s recent lifting of the ban on cryptocurrency transactions.
The decision to lift the ban on cryptocurrency transactions, announced in December 2023, is a significant milestone for Nigeria. Recognizing the potential of digital currencies and the need to adapt to global financial trends indicates a new era of financial inclusivity for Nigerians.
Conflux Network applauds this regulatory change, paving the way for increased adoption of cryptocurrencies and facilitating seamless crypto operations, benefiting its customers and the wider Nigerian population.
Ehis Omozusi, Conflux Africa Lead, expresses the company’s excitement to ensure smooth and secure cryptocurrency transactions. He says this will open up the continent to more blockchain-based technologies, especially if the process of obtaining the license is smooth and without any bottleneck.
Ehis says, “We welcome this progressive decision by the Nigerian government, as it aligns with our vision of creating a decentralized and accessible financial ecosystem. Collaborating with financial institutions, we are excited to leverage their expertise and infrastructure to provide reliable solutions for crypto enthusiasts across Nigeria.
With its advanced blockchain technology, Conflux Network offers a range of solutions to support cryptocurrency transactions, including secure wallets like Fluent Wallet, decentralized exchanges like Swappi, and streamlined payment systems.
Conflux aims to provide a seamless and reliable experience for the African community while contributing to the growth of the Nigerian financial ecosystem. This step would encourage startups to also consider building other utilities on the blockchain as several other industries would benefit from the technology like Health care, logistics, real estate, and so on.
Conflux commits to supporting this digital revolution and empowering Nigerians with the tools they need to capitalize on the opportunities presented by cryptocurrencies.
Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies worldwide. It utilizes a hybrid PoW/PoS consensus mechanism, ensuring a fast, secure, and scalable blockchain environment.
Conflux operates without congestion, maintains low fees, and prioritizes network security. Being the leading regulatory-compliant public blockchain in China, Conflux offers advantages for projects entering the Asian market.
In its partnerships, Conflux collaborates with global brands and government entities including, Shanghai, China Telecom, Little Red Book (China’s Instagram), McDonald’s China, and Oreo. These noteworthy collaborations serve as a testament to Conflux’s unwavering dedication to driving blockchain and metaverse initiatives.
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