The European Union (EU) recently granted the Nigerian cryptocurrency exchange platform, Roqqu a virtual currency license, allowing it to provide its services to customers in 28 European nations. The license allows Roqqu users, including non-Nigerians, to trade digital currencies as well as to participate in the non-fungible token (NFT) market.
According to their statement, the crypto exchange’s EU license means Roqqu is one of the first digital asset exchange platforms from Africa to expand into Europe. The Nigerian crypto exchange also shared a few reasons which influenced its decision to seek a Eurozone license.
The company’s statement read, “In our research, we found that Europe needs to catch up in terms of its global average of cryptocurrency adoption. They crawl 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.”
“We also discovered crypto-curious consumers in these countries interested in learning more about the blockchain space or want to make their first purchase but need help finding a simplified exchange to help build this interest. With all these in mind, the Roqqu team decided to take steps towards expansion and are currently making “BIG MOVES” as the first Nigerian-based Crypto exchange, driving crypto adoption in 28 European countries,” the statement further noted.
The Head of Product at Roqqu, Mr. Israel Ololade, revealed in an interview, how this global expansion aligns with the brand’s drive to become the number one blockchain and crypto company globally to push borderless remittance to its entire course.
He added, “In these countries, Roqqu users would be able to buy, sell and swap their coins, make payments via their virtual cards, accept payments through payment links, and many more we have in store.”
Furthermore, the crypto exchange’s CEO Benjamin Eseoghene suggested the decision to expand into Europe was influenced by users who asked Roqqu to consider making its services available to their friends and family members who live and study abroad.