Permission granted, Nigeria approves tokenized asset issuance to boost capital market growth

Odaily News: The Nigerian Securities and Exchange Commission has approved tokenized asset issuance, with alternative trading platform NASD PLC planning to officially launch the service in early next month. NASD Acting Managing Director Chinwendu Ekeh stated that the Nigerian Securities and Exchange Commission subsequently partnered with Canadian company Blockstation Inc. to provide blockchain-based infrastructure for the stock exchange, enabling near-real-time listing and trading of tokenized securities. Ekeh noted that NASD's target is Nigerian small and medium-sized enterprises that struggle to access bank credit and traditional capital market financing, and digital securities offer a "faster, cheaper, and more reliable path" to meet their needs.