Chief Data Protection Officer and Vice President of Legal, Commercial, and Product at Yellow Card, Lasbery Oludimu, emphasized that the CBN guidelines could encourage collaboration with traditional financial institutions to explore opportunities within the crypto space.
A crypto exchange in Nigeria, Yellow Card, believes the Central Bank of Nigeria (CBN)’s recent guidelines, lifting the crypto transaction ban, presents an opportunity for more legitimacy and integration with the traditional financial system and its dealings with crypto transactions, potentially expanding its user base.
In an interview with Cointelegraph, the Chief Data Protection Officer and Vice President of Legal, Commercial, and Product at Yellow Card, Lasbery Oludimu, said the peer-to-peer (P2P) market, once dominant during the ban, will change with increased banking support. This shift may foster competition and innovation in the Nigerian crypto space.
Oludimu confirmed that the exchange believes cryptocurrency usage will spike in Nigeria from 2024 due to the CBN guidelines, lifting the ban on crypto transactions. She said this directive would ensure and facilitate a more structured and regulated environment for crypto transactions.
