In Nigeria, a new cash-out option was launched by RedotPay in partnership with Ripple. The service allows people to convert crypto (BTC, ETH, XRP, USDC, USDT, etc.) to naira instantly — a major step for practical crypto adoption and fiat-off-ramp ease.
At the same time, regulatory uncertainty looms. Under the upcoming 2026 enforcement of the Nigeria Tax Administration Act (NTAA), crypto-related businesses and users will face stricter compliance and reporting requirements. Some stakeholders warn this could push activity into peer-to-peer (P2P) channels rather than regulated platforms.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
🇳🇬 Nigeria & Africa-Specific Developments
In Nigeria, a new cash-out option was launched by RedotPay in partnership with Ripple. The service allows people to convert crypto (BTC, ETH, XRP, USDC, USDT, etc.) to naira instantly — a major step for practical crypto adoption and fiat-off-ramp ease.
At the same time, regulatory uncertainty looms. Under the upcoming 2026 enforcement of the Nigeria Tax Administration Act (NTAA), crypto-related businesses and users will face stricter compliance and reporting requirements. Some stakeholders warn this could push activity into peer-to-peer (P2P) channels rather than regulated platforms.