Bitcoin, KYC, Others: 7 Issues that Assist You Perceive Why CBN Bans Opay 

Bitcoin, KYC, Others: 7 Issues that Assist You Perceive Why CBN Bans Opay 

Fintech has been of age in Nigeria—not less than six years. So if the CBN bans Opay, one of many early birds within the sector, now, it’s not about misunderstanding. Six years is an extended sufficient time for Opay to know its enterprise dangers—together with competitors, regulation, prospects—in Nigeria.

Whereas the corporate has grown in leaps and bounds, it seems gradual in responding to those dangers. Media investigations and prospects’ studies on these abounded earlier than CBN finally stopped it from onboarding extra prospects

Most Nigerians is probably not conscious of those although

Under are extra issues about standing, companies, danger administration types you could not know till now the CBN bans Opay.

7 Issues to Know About Opay

1)Opay has greater than 35 million prospects throughout Nigeria

2)Opay, with over $billion in valuation is one in all Nigeria’s 5 fintech unicorns

3)Opay has 500,000 brokers—extra like branches

4)It’s a Norwegian fintech firm beneath Opera Norway AS ,with presence in Asia (Pakistan), Africa (Nigeria and Egypt), Latin America (Mexico). That’s Nigeria, Egypt

5)Past providing digital fee resolution with stock, gross sales administration, and enterprise studies, Opay render banking companies together with deposit, withdrawal, and lending companies

6)Earlier than CBN intervention which started final yr, Opay had a featured that made it simple for anybody to open accounts with anyone’s checking account or telephone quantity

7)Opay equally permits transactions in digital forex like Bitcoin on its platform.

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