Nigeria’s central bank opens regulatory sandbox to virtual asset firms

Nigeria has launched a regulatory sandbox for virtual asset operators, fintechs, financial institutions, and technology companies, marking the latest step in the country’s push to coordinate oversight of the country’s fast-growing digital finance ecosystem. 
The Central Bank of Nigeria (CBN) said on Tuesday that applications for Cohort 2 of its Regulatory Sandbox Programme will open on August 12 and close on August 31.
The new programme includes a Virtual Asset Service Provider (VASP) track for companies offering stablecoins, payment and settlement services, custody, wallets, and related financial infrastructure solutions. It also includes a second Data-Enabled Financial Services (N...