Nigerian crypto exchange Roqqu recently announced that it has obtained a virtual currency license that allows it to offer its services in 28 European countries. According to Israel Ololade, Roqqu’s head of product, the European Union license “aligns with the brand’s drive to become the number one blockchain and crypto company globally.”
Crypto adoption lags in Europe
Nigeria-based cryptocurrency exchange Roqqu recently received a virtual currency license from the European Union (EU), allowing it to offer its services to users in 28 European countries, according to a statement released by the firm. The license allows Roqqu users, including non-Nigerians, to trade digital currencies and participate in the non-fungible token (NFT) market.
According to the statement, the EU license of the crypto exchange means that Roqqu is one of the first digital asset exchanges from Africa to expand into Europe. In a statement, the Nigerian crypto exchange also shared some reasons that influenced its decision to seek a Eurozone license.
“In our research, we found that Europe needs to catch up in terms of its global rate of cryptocurrency adoption. They trail globally with an average of 27%. European crypto exchanges come with more complicated user interfaces and high fees, making it difficult for early traders to participate in crypto as much as they want,” the statement read.
In a recent interview with Bitcoin.com News, the exchange’s CEO, Benjamin Eseoghene, suggested that the decision to expand into Europe was influenced by users asking Roqqu to consider making its services “available to their friends and family who live and study abroad. ”
Meanwhile, Israel Ololade said that the EU license “aligns with the brand’s drive to become the number one blockchain and crypto company globally.” In addition, Roqqu’s expansion in Europe opens up a channel that allows Nigerians in the diaspora to send remittances seamlessly to family and friends in Nigeria, Ololade added.
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