KuCoin Nigeria Limited has received conditional Approval-in-Principle (AIP) from Nigeria’s Securities and Exchange Commission (SEC Nigeria) for admission to its Accelerated Regulatory Incubation Programme (ARIP).
As part of the review process, KuCoin Nigeria presented elements of its proposed platform and operating model to the regulator.
The demonstration covered planned products and services for the Nigerian market, customer onboarding procedures, fiat on- and off-ramp arrangements, technology infrastructure, and governance and risk management structures.
KuCoin said the process forms part of its efforts to develop a local compliance framework for its proposed Nigerian operations, with an emphasis on accountability, user protection and risk management.
The conditional AIP does not constitute final registration, a licence, endorsement or recommendation by SEC Nigeria.
It also does not authorize KuCoin Nigeria to commence operations, onboard clients or offer services to the Nigerian public.
KuCoin described Nigeria as a key market for digital asset adoption and innovation, citing its developing digital economy and digital asset ecosystem.
The company said sustainable market development requires engagement between industry participants and regulators, alongside stronger governance, transparency, market integrity and user protection.
Receiving conditional Approval-in-Principle from SEC Nigeria marks another important milestone in KuCoin’s global compliance journey. As digital assets become an increasingly important part of the global financial system, trust must be built through continuously strengthening governance, maintaining high compliance standards and enhancing user protection. We value the opportunity to engage constructively with SEC Nigeria through ARIP and to continue building in line with Nigeria’s evolving regulatory framework. Our focus remains on strong governance, high compliance standards and meaningful user protection as we support the responsible and sustainable development of the digital asset ecosystem.
KuCoin’s regulatory engagement in Nigeria forms part of its broader approach to meeting local requirements across markets.
In Europe, KuCoin EU has received authorization under the Markets in Crypto-Assets Regulation (MiCA) to provide regulated crypto-asset services across the European Union.
In Australia, KuCoin operates through Axis One Markets Pty Ltd, which is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider.
The company noted that each authorization or registration applies only to the relevant entity and activities within its jurisdiction.
Neither the European authorization nor the Australian registration authorizes KuCoin Nigeria to operate or provide services in Nigeria.
KuCoin said it aims to align its operations with applicable local regulatory requirements and obtain the relevant authorizations or registrations in each market.
KuCoin said its approach to compliance extends beyond regulatory requirements to include long-term trust, governance and user protection.
The company added that it plans to continue strengthening its governance and operational resilience while working with regulators, partners and industry participants to support the development of a more transparent and accountable digital asset market.
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