Analysis
14 Crypto Firms Are in Nigeria's SEC Fast-Track Programme. Binance Is Not One of Them
Who SEC Nigeria has admitted into its Accelerated Regulatory Incubation Programme, and which global names are missing.
The short version: 14 crypto firms have been admitted by SEC Nigeria into its Accelerated Regulatory Incubation Programme (ARIP): Busha, Quidax, Bitbarter, Blockvault, GetEquity, KoinKoin, Luno Nigeria, Trovotech, Wrapped CBDC (cNGN), GIGX, KuCoin Nigeria, BC Access (Nigeria), Pisi Payments, Yellow Card (SEC, SEC, SEC, SEC). The SEC's own table names 2 of them, Busha and Quidax, as digital assets exchanges. No company or trading name in these lists carries the name Binance, Bitget, Bybit, Coinbase, Crypto.com, Gate, Kraken, MEXC, OKX.
The ARIP Participants
| Firm | Trading name | Function | ARIP admission |
|---|---|---|---|
| BushaBusha Digital Limited | Busha | Digital assets exchange (per SEC) | listed in SEC table |
| QuidaxQuidax Technologies Limited | Quidax | Digital assets exchange (per SEC) | listed in SEC table |
| BitbarterBitbarter Technologies Limited | Function not stated by the SEC | 2 Jul 2026 | |
| BlockvaultBlockvault Custodian Ltd | BLOCKVAULT | Function not stated by the SEC | 2 Jul 2026 |
| GetEquityGetEquity Limited | Function not stated by the SEC | 2 Jul 2026 | |
| KoinKoinKoinkoin Global Network Limited | Function not stated by the SEC | 2 Jul 2026 | |
| Luno NigeriaLuno Fintech Nigeria Limited | Function not stated by the SEC | 2 Jul 2026 | |
| TrovotechTrovotech Ltd | Trovotech | Function not stated by the SEC | 2 Jul 2026 |
| Wrapped CBDC (cNGN)Wrapped CBDC Ltd | cNGN | Function not stated by the SEC | 2 Jul 2026 |
| GIGXGIGX Technologies | Function not stated by the SEC | 3 Jul 2026 | |
| KuCoin NigeriaKuCoin Nigeria Limited | Function not stated by the SEC | 3 Jul 2026 | |
| BC Access (Nigeria)BC Access (Nigeria) Limited | Function not stated by the SEC | 13 Aug 2026 | |
| Pisi PaymentsPisi Payments Solution Limited | Function not stated by the SEC | 13 Aug 2026 | |
| Yellow CardYellow Card (YC) Financial Limited | Function not stated by the SEC | 13 Aug 2026 |
Company names as listed by the SEC. The SEC table also gives contact details and sponsor names; we do not republish them. Full list.
How a Firm Gets Onto the List
In its 2026 admission circulars the SEC describes ARIP as “an innovative regulatory environment designed to fast-track the on-boarding of digital asset and other investment service providers (like Virtual Asset Service Providers and tokenized product platforms) through a controlled regulatory sandbox”. The stated purpose is to let the Commission assess novel business models and technologies “to ensure that appropriate safeguards are in place to protect investors and preserve market integrity before these products and services are offered to the investing public” (SEC). A firm joins the list when the SEC clears it for admission; it then receives an Approval-in-Principle (SEC).
What the List Says, and What It Leaves Out
The SEC's FinPort table gives each original participant a function: both Busha and Quidax are listed as “Digital Assets Exchange” (SEC). The three 2026 circulars name the newly admitted companies but do not state which services each was admitted for, so this page does not label them as exchanges, custodians or brokers. Inclusion means admission into the programme, not final registration: the framework speaks of operating “pending final registration by the Commission” (ARIP framework).
What This Page Does Not Cover
“Not in the SEC's lists” is not a finding about how a firm serves users in Nigeria. The SEC's “Find a Registered Operator” search and its investor alerts are not read.
Sources
- SEC Nigeria, Registered FinTech Operators www.sec.gov.ng
- SEC circular, 2 Jul 2026 home.sec.gov.ng
- SEC circular, 3 Jul 2026 www.sec.gov.ng
- SEC press statement, 13 Aug 2026 www.sec.gov.ng
- SEC ARIP framework (June 2024) www.sec.gov.ng