OPay reaffirms prohibition of cryptocurrency, virtual assets trading on its platform

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OPay reiterates prohibition of cryptocurrency, virtual assets trading on its platform

As a compliant organisation committed to upholding legal, constitutional, and regulatory duties, OPay prioritises the safety, strength, and integrity of the financial system.

OPay does not permit trading in any form of cryptocurrency or virtual currency on its platform. Additionally, OPay accounts and wallets must not be used in connection with such activities. To ensure compliance with this directive, OPay conducts daily scans of its platform to detect any unauthorised cryptocurrency or virtual currency trading. Any account or wallet found in breach of this policy will be closed immediately, with details reported to the relevant regulatory authorities.

According to the Gotring Wuritka Dauda, CEO, OPay Nigeria, he stated that, "For absolute clarity, OPay has never condoned, nor will it permit, the trading of cryptocurrency or virtual assets on its platform."

He continued by urging all customers to ensure their OPay wallets and accounts are not involved in cryptocurrency or virtual currency transactions. Non-compliance with this policy will result in account closure. He appreciated all customers for their continued trust and support as they work together to maintain a secure and compliant financial environment.

OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others. Renowned for its super-fast experience and reliable network, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as traditional banks.

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