PRESS RELEASE | SEC Nigeria Approves Crypto Exchanges, Luno and KoinKoin, into its Incubation Programme

The Securities and Exchange Commission of Nigeria (SEC Nigeria) has cleared seven new entities for admission into its Accelerated Regulatory Incubation Programme (ARIP), reinforcing its commitment to fostering responsible innovation that deepens Nigeria’s capital market while safeguarding investor interests.

The newly admitted entities are:

• Bitbarter Technologies Limited
• Luno Fintech Nigeria Limited
• GetEquity Limited
• Koinkoin Global Network Limited
• Wrapped CBDC Ltd
• Trovotech Ltd
• Blockvault Custodian Ltd

These entities would receive the Commission’s Approval-in-Principle (AIP) permitting them to operate within the defined scope of the Programme and subject to conditions stipulated by the Commission. An Approval-in-Principle confirms that an entity has satisfied the Commission’s admission requirements for the Programme.

Please Note that it is not a final licence and remains conditional on the entity’s continued compliance with all applicable regulatory, operational, and supervisory obligations.

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About ARIP

ARIP is an innovative regulatory environment designed to fast-track the on-boarding of digital asset and other investment service providers (like Virtual Asset Service Providers and tokenized product platforms) through a controlled regulatory sandbox. It allows the Commission to assess novel business models and technologies in a controlled regulatory environment to ensure that appropriate safeguards are in place to protect investors and preserve market integrity before these products and services are offered to the investing public.

For more information please visit the Commission’s official site at FinPort Programs (RI and ARIP) – Securities and Exchange Commission, Nigeria.

The Commission remains committed to enabling innovation that advances efficiency, transparency, financial inclusion, and sustainable growth in Nigeria’s capital market. Through initiatives such as ARIP, SEC continues to encourage responsible technological advancement alongside investor protection guardrails and market discipline. Members of the investing public are strongly advised to verify the regulatory status of anyone promoting investment product or services through the Commission’s official channels before engaging with them.

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