Harrison EDEH
THE Securities and Exchange Commission (SEC) has cleared additional Virtual Asset Service Providers (VASPs) for admission into its Accelerated Regulatory Incubation Programme (ARIP).
Among the newly cleared is BC Access Nigeria Limited (Blockchain), marking an important step in the company’s long-term commitment to Nigeria and its broader expansion across Africa.
Nigeria is one of Africa’s most important digital asset markets, where crypto increasingly plays a practical role in how people access, hold, and move.
Value Admission into ARIP means Blockchain has satisfied the SEC’s initial requirements to participate in the programme and is authorised to operate within its defined sandbox scope, subject to the Commission’s ongoing compliance obligations, testing parameters, and regulatory conditions.
The Advocate Times reports that Nigeria dominates sub-Saharan Africa’s (SSA’s) crypto flows, processing $92.1 billion in crypto transactions between July 2024 and June 2025, a report by PwC Nigeria has said.
PwC Nigeria, in its ‘Economic Outlook 2026’ released earlier this year, noted that the Nigerian crypto market is positioned to grow further this year, primarily driven by the implementation of a new, formal regulatory and tax framework.
The report said, for instance, that the new Tax and Tax-Administration Acts, effective from 2026, will treat crypto profits as income taxed up to 25 per cent, replacing the previous 10 per cent capital-gains tax, effectively raising the tax burden and complexity for users.
Through ARIP, Blockchain can work directly with the SEC as the Commission evaluates digital asset business models, tests appropriate safeguards and develops its long-term regulatory framework for the market.
Speaking, General Manager for Africa, Blockchain, Owen Odia, said: “Nigeria is one of Africa’s most important digital asset markets and participating in the SEC’s ARIP is an important step forward in our long-term commitment to the country.
The programme allows us to work directly with the SEC in a controlled environment, bring our global experience to the Nigerian market and help support a framework that protects consumers while enabling responsible innovation. We appreciate the SEC’s proactive approach and look forward to contributing to a safe, transparent and well-regulated digital asset ecosystem.”
Blockchain’s participation in ARIP forms part of a broader global strategy to engage constructively with regulators and build within established regulatory frameworks.
Notably, over the past year, Blockchain has secured several formal licenses and registrations globally, including the UK Financial Conduct Authority (FCA), EU Markets in Crypto-Assets (MiCA), and Cayman Islands Monetary Authority (CIMA) Virtual Asset Service Provider (VASP) License. Participating in Nigeria’s ARIP sandbox builds on that experience, bringing global standards in compliance, security, and consumer protection to its local operations.
For Blockchain, ARIP provides a structured environment to test services for the Nigerian market, strengthen consumer protections and work directly with regulators and local stakeholders.
The company sees Nigeria as an important market in its African strategy, with strong existing demand for digital assets and an increasingly clear regulatory pathway for responsible operators.
The company’s strategy materials specifically identify Nigeria as an important market for its African expansion.
ARIP was established by Nigeria’s SEC as a controlled regulatory sandbox for VASPs and fintech innovators.
The programme allows the SEC to observe live applications of digital asset technologies, study operational risks, and establish tailored investor protection and anti-money laundering (AML) standards before final regulatory rules are codified.
Blockchain is pleased to participate in ARIP as we work alongside regulators to support responsible innovation, consumer protection and market integrity.
Founded in 2011, Blockchain is one of the world’s longest-standing digital asset companies with more than 95 million wallets, more than 44 million confirmed accounts, and over $1.2 trillion processed.
