Contents
- Gluwa proposes the Nigerian government to collaborate on crypto policy framework
- Gluwa Capital backs local cryptocurrency services with $35 million support program
Blockchain Team Gluwa Proposes Nigerian Government Collaboration on Crypto Regulation
Vladislav Sopov
As the industry leading cryptocurrency protocol, the Gluwa team is ready to share its proposals with Nigerian regulators
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Global DeFi ecosystem Gluwa that provides services in crypto-lending, yield farming and real-world asset investing has shared the details of its recent partnership with the Nigerian government. Gluwa’s team is ready to co-develop new regulatory frameworks to the mutual benefit of business and society.
Gluwa proposes the Nigerian government to collaborate on crypto policy framework
According to the official announcement shared by the team of the Gluwa DeFi ecosystem, it has called on the Federal Government of Nigeria to participate in the progress of a national crypto regulatory framework. Adequate regulation is paramount to unlocking the potential of blockchain in Africa’s largest economy.
Gluwa CEO Tae Oh is excited about the prospects of the collaboration with the Nigerian government regarding the long-term success of crypto in the African region:
We believe that cryptocurrencies have the potential to transform the financial landscape in Nigeria and across the African continent. By working closely with the Nigerian government, we hope to create a policy framework that encourages the responsible use of cryptocurrencies, while protecting consumers and preventing criminal activities.
In recent years, Gluwa has built an ecosystem of cryptocurrency applications, including the largest blockchain-based credit repository for trustless credit history verification.
The Gluwa team develops and promotes non-custodial multi-currency wallet and allows users to invest USD Coin (USDC) in various cryptocurrency products.
As covered by U.Today earlier, in 2022, Gluwa pioneered a lottery-style stablecoin account that works with Dollar-pegged sUSDC-G (Gluwa’s sidechain native USDC).
Gluwa Capital backs local cryptocurrency services with $35 million support program
Ahmed Gloria Kufeji, a director at the Nigerian Ministry of Finance, says he is impressed by the mission and vision of Gluwa and the role it can play in blockchain progress in Nigeria:
We are happy to see interest from companies like Gluwa to support the growth and development of the blockchain industry in Nigeria. Recognizing the potential of blockchain technology to drive economic growth and financial inclusion, we are committed to creating a policy framework that encourages innovation and investment, while protecting consumers and preventing criminal activity.
In addition to leadership in cryptocurrency regulation, the Gluwa ecosystem supports the next generation of local startups in the Nigerian market.
The venture capital arm, Gluwa Capital, backed locally owned financial service providers and crypto exchanges in Africa with $35 million in funding allocated to various fundraising rounds.
