• Days
  • Hours
  • Mins
  • Secs
  • Sat, 19 Oct 2019, 02:30 PM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Nigerian Stock Exchange mulls using blockchain, DLT to raise capital

Image Credit: www.african-markets.com

Tue, 09 Jul 2019, 03:23 am UTC

The Nigerian Stock Exchange (NSE) is considering using blockchain and distributed ledger technology (DLT) to raise capital, in a bid to align the country’s capital market to developing financial technologies (FinTech), its top executive said.

Speaking at the Fintechngr Social Meet 4.0 in Lagos, Nigeria, NSE CEO Oscar Onyema said that the exchange is exploring new technologies such as blockchain and DLT to catalyze smart capital raise.

While we are focused on delivering on our mandate to be Africa’s Preferred Exchange Hub, the bigger picture is to create a dynamic marketplace that fuels growth and empowers our people towards excellence in business and ventures,” he said.

Onyema pointed out that FinTech provides opportunities to deepen capital market activities and attain sustainable economic growth by giving more people access to financial services while unlocking efficiencies of products and services and promoting transparency of the Nigerian capital market.

He also underscored the support the exchange has provided for the market, including the introduction of a Growth Board for FinTechs seeking public investment and corporate consolidation.

The global picture of capital flow into FintTechs especially in emerging markets is proof that FinTechs are important economic catalysts in the 4th Industrial Revolution,” he said.

As previously reported, Switzerland’s principal stock exchange, SIX Swiss Exchange, is developing a stablecoin pegged to the Swiss franc that will help facilitate transactions of the upcoming SIX Digital Exchange (SDX).

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,050.12 (+1.28%)
  • Ethereum (ETH) $174.77 (+1.19%)
  • XRP (XRP) $0.296100 (+1.73%)
  • Bitcoin Cash (BCH) $215.54 (+0.95%)
  • Litecoin (LTC) $53.89 (+0.72%)
  • Bitcoin (BTC) $8,050.12 (+1.28%)
Oct 18, 2019 (Friday)
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Samsung SDS partners with Tech Mahindra and Pega to launch blockchain-based traceability solution
Telegram proposes to postpone TON blockchain project launch to April 2020, seeks investors’ consent
Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.