NEPZA, the Nigerian government agency responsible for export processing zones, announced that discussions are happening with Binance in order to hopefully establish a digital free zone fully dedicated to blockchain technology and the overall digital economy. The National Economic and Production Zones Authority has therefore anticipated that, if successful, the talks will result in a similar outcome to Dubais online free zone. Binance committed to assisting Dubai in creating an industrial hub for global digital assets last December, with the goal of fostering sustainable economic growth and attracting a diverse range of crypto-based enterprises to become licensed in the region. As such, the Nigerian government is reportedly in advanced talks with the cryptocurrency exchange about similarly establishing a digital zone in the country in order to help the growth of the fintech sector in Africa. The idea of accessing a country with great potential like Nigeria via this collaboration project is certainly appealing to Binance. The exchange hopes to eventually expand its operations throughout Africa, so working alongside NEPZA should be a no-brainer.
