SEC Admits Blockchain, Yellow Card, and Pisi Payments into Regulatory Incubator
Nigeria’s Securities and Exchange Commission has granted Approval-in-Principle to three virtual asset service providers Blockchain.com, Pisi Payments Solution Limited, and Yellow Card Financial Limited admitting them into its Accelerated Regulatory Incubation Programme to strengthen oversight across the country's expanding digital asset market. Acting as a controlled regulatory sandbox, the programme provides these companies with operational conditional approval under direct supervision, allowing them to test business models and risk management safeguards without granting a full license. This structured environment enables the regulator to closely evaluate operational compliance, investor protection measures, transparency, and anti-money laundering protocols in real-time. For global platforms like Blockchain.com, which operates over 95 million wallets across 70 jurisdictions, entering this framework aligns with a broader global strategy that already includes regulatory approvals in the United Kingdom, the European Union, and the Cayman Islands. As Owen Odia, Blockchain's General Manager for Africa, noted, the initiative provides a valuable pathway to introduce global expertise into one of Africa's most active crypto markets while actively collaborating with local regulators to build a safe, transparent, and sustainable digital asset ecosystem.
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