Expect Best Wallet to surge as Nigeria’s SEC director-general says the country is open for stablecoin business.
What a difference a year makes, as Nigeria now declares it’s officially open for stablecoin business. This comes after the country’s crackdown on Binance over a year ago.
Adding to this is social media platform’, Own. app’s debut of gold-backed stablecoins for African content creators.
Overall, the news should be a boon for Best Wallet, powered by Best Wallet Token ($BEST), which provides individuals with a secure and user-friendly crypto wallet.
Nigeria ‘Open for Stablecoin Business’, Own. App Launches Gold-Backed Stablecoins
It’s a good week for stablecoins, particularly in Africa. Nigeria’s Securities and Exchange Commission Director-General Emomotimi Agama revealed that the country now welcomes stablecoin operators through its regulatory sandbox.
Even so, Agama emphasized the importance of developing solutions that match local needs.
‘Africa needs African solutions, regulatory frameworks that reflect our market conditions, demographic realities, and development priorities,’ Agama said.
This is a massive development for Nigeria, which only last year blamed cryptocurrencies for its currency woes.
At the center of the controversy is Binance, which the country sued for $79.5B for Nigeria’s economic losses.
Meanwhile, the social media app OWN. has partnered with Ubuntu Tribe to enable content creators in select African countries, like Kenya and Nigeria, to get paid in GIFT Gold.
GIFT is a gold-backed stablecoin that aims to solve volatility issues associated with accepting fiat payments.
These moves should help boost the growing stablecoin market, which according to DefiLlama, grew by a massive $4.505B in the last seven days alone.
Best Wallet Well-Positioned to Address Growing Stablecoin Adoption
The growing global adoption of stablecoins strengthens the need for a secure crypto wallet to store these digital assets. Best Wallet is a good example, and one that aims to take a big chunk of this growing market by 2026.
As a non-custodial crypto wallet, it ensures private keys remain under your control. Only you can sign transactions, and have solid proof of ownership of all your digital assets.
Besides storing your crypto, Best Wallet lets you buy, trade, and swap crypto, join token presales, and more.
Its app is available for both iOS and Android devices, ensuring wide availability and a familiar interface that even novice users can easily navigate.
Powering the wallet is its native Best Wallet Token ($BEST). Owning $BEST helps you unlock perks within the Best Wallet ecosystem. For example, you can vote on key decisions on the project and enjoy lower transaction fees, higher staking rewards, and early access to token presales in the Token Launchpad.
You can buy $BEST at its official presale page for only $0.025385. But there’s a price increase in less than two days, so it’s best to act fast to secure this low price.
Staking is also available for presale buyers. The current reward rate is at 96% p.a., which is a compelling incentive for supporting the project at this early stage.
To learn more, check out the Best Wallet Token whitepaper.
Stablecoins Will Revolutionize the Global Economy
With Nigeria joining the growing list of countries with a friendlier stance on stablecoins, it’s only a matter of time before digital assets become a staple in everyday transactions.
When this happens, Best Wallet and its Best Wallet Token ($BEST) are perfectly positioned to captitalize on the stablecoin revolution. Its availability on iOS and Android, user-friendly UX, and robust security should attract crypto holders of all experience levels.
But before you invest in crypto, be sure to do your research first. This is not investment advice.
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
Source: https://bravenewcoin.com/sponsored/presale/nigeria-africa-adopt-stablecoins