Challenges with borderless payments were driving the adoption of cryptocurrency in Nigeria, the Chief Executive Officer, Cloudax, Olumuyiwa Akinola, has said.

He noted that financial transactions had become the easiest means of conducting financial transactions.

He said, “I think the quick adoption of cryptocurrency in Africa is largely driven by the difficulties the African youth faces in conducting borderless financial operations whilst living and working in the global village that the world has become.

“Digital currencies have become the easiest means to conduct financial transactions, and it is encouraging to see that a number of African governments appear to be developing or on their way to developing regulations which promote the use of cryptocurrencies in their regions.”

Akinola also announced Cloudax’s plan to launch a peer-to-peer app and website to onboard Nigerians and other Africans into the crypto ecosystem.

He added, “We are excited to introduce our P2P platform, which will bridge the gap between crypto enthusiasts and mainstream users in Nigeria. Our mission is to empower individuals with a seamless and affordable solution for crypto transactions.

According to him, with asset security being the greatest concern of most users, CloudP2P would give the best customer experience with its extremely secure and user-friendly marketplace for swift and seamless buying, selling, and swapping of crypto.

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