The report stated that the Nigerian authorities intend to build a zone that will be similar to Dubai’s virtual free zone. The space upon completion will be the first in the West African region.
NEPZA’s Managing Director, Adesoji Adesugba, said the country’s “goal is to engender a flourishing virtual free zone to take advantage of a near trillion dollar virtual economy in blockchains and digital economy.”
Binance Boosts Mainstream Blockchain Adoption
Binance’s collaboration with Nigeria follows a similar move the company made with South Korea’s city of Busan.
The Changpeng Zhao-led exchange had signed a memorandum of understanding (MoU) with the city of Busan to ensure technological and infrastructural support for the city.
The move is designed to help develop the city’s blockchain ecosystem and also the promotion of Busan’s Digital Asset Exchange.
The exchange also entered an agreement with the Securities and Exchange Regulator of Cambodia (SERC) to develop the country’s securities sector.
Meanwhile, Binance also recently launched a crypto education hub in Cameroon to further drive crypto and blockchain adoption in the African country.
