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Nigerian Bourse to Adopt Blockchain for Settling Trades by 2023

  • Exchange hopes to attract crypto-loving Nigerians to stocks
  • South Africa, Kenya wait for regulation to adopt technology

Nigerian Exchange Ltd., plans to start a blockchain-enabled exchange platform next year to deepen trade and lure young investors to the market.

The move follows the introduction of regulations to guide trade in digital assets by the Nigerian Securities and Exchange Commission, and the growing interest to adopt the distributed-ledger technology by businesses and policy makers across the continent including in Kenya and South Africa.