Roqqu, a Nigerian cryptocurrency exchange platform, has been granted regulatory approval to operate in South Africa. This means that Roqqu users can now deposit and withdraw South African Rand (ZAR) to and from their Roqqu wallets. The move is aimed at increasing the global adoption and accessibility of cryptocurrency, as well as contributing to the emergence of a borderless cryptocurrency transaction era.
According to Mr. Israel Ololade, Head of Product at Roqqu, the decision to expand into South Africa was based on intensive research to streamline strategic cities and countries to pioneer Roqqu’s target of global adoption and borderless transactions. He stated that about four million South Africans own cryptocurrencies and that South Africa ranks 18th out of 26 countries for crypto adoption, according to a survey of 217,947 people in 26 selected countries. He added that expansion to other African countries in the region would be even easier from South Africa.
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Roqqu is the first Nigerian-based crypto exchange driving crypto adoption in other African countries and the benefits of using the platform include the ability to perform global remittance without downloading a second app and access to a wider range of fiat currency options, up to 100+ currencies.