Powering the Digital Asset Transformation in Nigeria and Beyond

Powering the Digital Asset Transformation in Nigeria and Beyond

If you’ve read the Chainalysis 2022 Global Crypto Adoption Index you might have noticed that Nigeria has been rapidly climbing the charts when it comes to grass roots adoption of Cryptocurrency. 

In this episode, Ian Andrews (Chief Marketing Officer, Chainalysis) is joined by co-founders, Michael Adeyeri (CEO) and Moyo Sodipo (Chief Product Officer) of Busha, one of the fastest growing digital asset platforms in Africa. They go in depth about the challenges Nigerians have in accessing currencies like the dollar and euro and how cryptocurrency and stablecoins enable an alternative international payment solution. 

The co-founders describe the current crypto regulatory landscape in Nigeria and explain why adoption in the country is far from just speculation and how remittances and facilitating business operations is top priority for many Nigerians. 

* It is noted that Busha is a Chainalysis customer. 

Minute-by-minute episode breakdown

• (2:15) – How early days of figuring out alternative value transfer solutions turned into Busha’s thriving African cryptocurrency  exchange
• (4:19) – How Busha was able to provide consumer centric concierge services to their user base and grow in Nigeria 
• (7:15) – Dealing with banking challenges in Nigeria as a cryptocurrency service provider
• (13:59) – The emergence of Nigeria’s CBDC the eNaira and the place it has in the digital asset landscape of Africa
• (15:01) – Demystifying the Central Bank of Nigeria (CBN) decision to ban cryptocurrency and the current state of crypto regulations 
• (19:00) – Why NFTs aren’t as popular in Nigeria and surrounding regions

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website: Busha: Join one of Africa's leading digital asset platforms
• Blog: The Ultimate Guide to Saving in Dollars in Nigeria
• Blog: 4 Basic Strategies To Better Crypto Trading
• Blog: 4 Simple Things Your Busha Wallet Can Do
• Links 2023 Conference (NYC) Where private and public sector leaders convene to discuss key issues facing the cryptocurrency industry
• Twitter: Chainalysis Twitter: Building trust in blockchains4 Basic Strategies To Better Crypto Trading
• Tik Tok: Chainalysis Tik Tok: Building trust in blockchains among people, businesses, and governments.
• Youtube: Chainalysis on Youtube

Speakers on today’s episode

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) https://www.linkedin.com/in/ianhandrews
• Michael Adeyeri (CEO & CTO, Busha) https://www.linkedin.com/in/michaeladeyeri/
• Moyo Sodipo (COO & CPO, Busha) https://www.linkedin.com/in/moyosodipo
  

*It is noted that Busha is a Chainalysis customer. 

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