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FTX, a centralised cryptocurrency exchange firm, has called on the Federal Government to license the crypto market to ensure the nation does not miss out on latest technology.
FTX is an exchange specializing in derivatives and leveraged products designed to benefit users and increase network effects around the platform.
Accordig to business development manager, FTX, Africa, Mr. Adebayo Juwon, who made the call during the company’s anniversary in Lagos, FTX is the most licensed crypto in the world in the US, Japan, Europe and the United Arab Emirates.
He said: “The reason the rate is low in Nigeria and other African countries is because governments are not providing the regulatory frameworks.
“If there could be a framework where crypto exchanges can be licensed it would be nice, and I am sure, we will be tagged along.
“It is the first regulated exchange offering crypto derivatives in the U.S., and licensed to offer products and services in dozens of jurisdictions worldwide.
Juwon said, in less than three years, FTX has obtained a valuation of $32 billion, six million registered users and exists in 200 countries across the world: “FTX has low trading fees, sign up and trade in less than three minutes, cross-margining across all products and more than 260 cryptocurrencies supported.
“The innovative products include spot, volatility products, tokenises stocks, TFX pay and FTX. We are here for everybody. It’s not just for some people, it’s for everybody.”
Also, offering advice to government on the ways to make elections in Nigeria credible, special assistant to the Oyo State governor on ICT, Mr. Bayo Akande, advised the Federal Government to begin to think about adopting blockchain technology.
Akande explained that blockchain is a public record saved online that anyone can see, and cannot be tampered with.
