Crypto Firms in SEC Nigeria's ARIP
14 crypto firms have been admitted by SEC Nigeria into its Accelerated Regulatory Incubation Programme (ARIP). An Approval-in-Principle is not a final licence: the SEC says it remains conditional on continued compliance.
Sources: SEC FinPort, SEC, SEC, SEC.
ARIP Participants
| Firm | Trading name | Function | ARIP admission |
|---|---|---|---|
| BushaBusha Digital Limited | Busha | Digital assets exchange (per SEC) | listed in SEC table |
| QuidaxQuidax Technologies Limited | Quidax | Digital assets exchange (per SEC) | listed in SEC table |
| BitbarterBitbarter Technologies Limited | Function not stated by the SEC | 2 Jul 2026 | |
| BlockvaultBlockvault Custodian Ltd | BLOCKVAULT | Function not stated by the SEC | 2 Jul 2026 |
| GetEquityGetEquity Limited | Function not stated by the SEC | 2 Jul 2026 | |
| KoinKoinKoinkoin Global Network Limited | Function not stated by the SEC | 2 Jul 2026 | |
| Luno NigeriaLuno Fintech Nigeria Limited | Function not stated by the SEC | 2 Jul 2026 | |
| TrovotechTrovotech Ltd | Trovotech | Function not stated by the SEC | 2 Jul 2026 |
| Wrapped CBDC (cNGN)Wrapped CBDC Ltd | cNGN | Function not stated by the SEC | 2 Jul 2026 |
| GIGXGIGX Technologies | Function not stated by the SEC | 3 Jul 2026 | |
| KuCoin NigeriaKuCoin Nigeria Limited | Function not stated by the SEC | 3 Jul 2026 | |
| BC Access (Nigeria)BC Access (Nigeria) Limited | Function not stated by the SEC | 13 Aug 2026 | |
| Pisi PaymentsPisi Payments Solution Limited | Function not stated by the SEC | 13 Aug 2026 | |
| Yellow CardYellow Card (YC) Financial Limited | Function not stated by the SEC | 13 Aug 2026 |
Sandbox-Only VASPs
| Firm | Trading name | Function | ARIP admission |
|---|---|---|---|
| DreamCity CapitalDreamCity Capital Ltd | DreamCity | Function not stated by the SEC | listed in SEC table |
| HXafricaHousingExchange.NG Ltd | HXafrica | Function not stated by the SEC | listed in SEC table |
Sources: SEC, Registered FinTech Operators and SEC circulars (2 Jul, 3 Jul, 13 Aug 2026), read on every build. Contact details not republished. Methodology.
The Rules in Brief
- What ARIP is. The SEC's Accelerated Regulatory Incubation Programme (framework of June 2024) onboards virtual asset service providers and other digital investment service providers whose applications are filed with the SEC. Qualified applicants get an Approval-in-Principle to operate within the programme pending final registration by the Commission (ARIP framework).
- Who it covers. The framework applies among others to platforms for offering, trading, exchange, custody and transfer of virtual assets, and to foreign or non-residential operators that actively target Nigerian investors (ARIP framework).
- Not a final licence. In each 2026 admission circular the SEC says that an Approval-in-Principle is not a final licence and remains conditional on the entity's continued compliance with regulatory, operational and supervisory obligations (SEC).
Summary of the SEC documents linked. Not legal advice.
Cite This Page
VASP Tracker, “Nigeria SEC ARIP List: Crypto Firms With Approval-in-Principle”, https://vasptracker.com/en/ng/register/ (accessed 21 Oct 2026). CC BY 4.0.