Nigerian Cryptocurrency Exchange Roqqu Secures Regulatory Approval to Operate in South Africa

According to reports, the Nigerian cryptocurrency exchange Roqqu has obtained regulatory approval to operate in South Africa, allowing users to use the country’s legal tender, the South African rand, to purchase cryptocurrency and withdraw funds.

Cryptocurrency Exchange Roqqu Approved to Expand Business in South Africa

Cryptocurrency is undoubtedly one of the fastest-growing markets in the world, with millions of people buying and selling them every day. And as the market continues to grow, more and more exchanges are being established to meet the demands of traders. One such exchange is the Nigerian-based Roqqu exchange, which has recently obtained regulatory approval to operate in South Africa. This is great news for cryptocurrency traders looking to purchase and withdraw their funds using South Africa’s legal tender, the South African rand.

Background of the Roqqu Exchange

Roqqu is a relatively new cryptocurrency exchange that was established in Nigeria in 2017. The platform was created with the aim of providing Nigerians with a safe and secure way to buy, sell, and store cryptocurrency. The exchange has grown remarkably since its inception, offering its users various services such as a mobile wallet, OTC trading, P2P trading, and many more. Within its few years of operation, Roqqu has become one of the most reputable and trusted exchanges in Nigeria.

Regulatory Approval

Roqqu exchange has been given regulatory approval by the South African Financial Sector Conduct Authority (FSCA) to operate in South Africa. This is great news for Roqqu and its users, because it means that the platform can now legally offer its services to South African citizens. As a result, South African traders can now use the Roqqu exchange to buy and sell cryptocurrency, and withdraw their funds in the South African rand.

What it Means for South African Traders

The approval of the Roqqu exchange by the FSCA is good news for traders looking to expand their options. Currently, there are not many exchanges that support the South African rand, and this limits the investment opportunities available to South Africans in the cryptocurrency market. With Roqqu, traders now have a trusted and reliable option to purchase cryptocurrency using their local currency.
Additionally, the Roqqu exchange offers a seamless trading experience that is easy to use, even for beginners. The platform is user-friendly and offers various features that aid the trading process. It also employs strict security measures to ensure the safety of users’ funds.

Future of Roqqu Exchange

Roqqu’s approval by the FSCA is just the beginning of what could be a bright future for the exchange. With the backing of a regulatory authority, the Roqqu exchange is now in a position to expand its services, gain more users, and increase trading volume. This could boost the platform’s reputation further, and make it a leading exchange in the African cryptocurrency market.

FAQs

Q: Is Roqqu Exchange available in other African countries?

A: At the moment, the Roqqu exchange is only available in Nigeria and South Africa. However, there are plans to expand to other African countries soon.

Q: Can I trade on Roqqu Exchange if I am not a South African Citizen?

A: Yes, you can trade on Roqqu exchange even if you are not a South African citizen. However, it is important to note that you will have to comply with South African laws and regulations when using the exchange.

Q: What cryptocurrencies are available on Roqqu Exchange?

A: Roqqu exchange supports various cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and many more. Traders can choose from a wide range of cryptocurrencies to suit their investment needs.

Conclusion

The approval of Roqqu exchange by the FSCA is a significant development in the African cryptocurrency market. Traders now have more options to purchase and withdraw their funds, and Roqqu is in a better position to expand its services and increase trading volume. With the increasing interest in cryptocurrency across the world, it is clear that exchanges like Roqqu will continue to play a vital role in the market’s future.