Coinbase partners with Onboard Global to expand crypto access in Nigeria, enabling secure P2P transactions, reduced fees, and improved financial inclusion. Coinbase has announced a partnership with Onboard Global to help Nigerian users buy and sell cryptocurrencies more efficiently. Users can now access the Onboard P2P feature on Coinbase Wallet as an additional method to buy cryptocurrency with local fiat. Users can buy crypto via peer-to-peer (P2P) exchange by utilizing this feature to handle transactions with local currency. They do not need to go through lengthy verifications on Onboard because the platform provides lower transaction fees than traditional options. Base together with Coinbase Wallet work toward developing an international on-chain economic system that supports
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Coinbase partners with Onboard Global to expand crypto access in Nigeria, enabling secure P2P transactions, reduced fees, and improved financial inclusion.
Coinbase has announced a partnership with Onboard Global to help Nigerian users buy and sell cryptocurrencies more efficiently. Users can now access the Onboard P2P feature on Coinbase Wallet as an additional method to buy cryptocurrency with local fiat. Users can buy crypto via peer-to-peer (P2P) exchange by utilizing this feature to handle transactions with local currency. They do not need to go through lengthy verifications on Onboard because the platform provides lower transaction fees than traditional options.
Base together with Coinbase Wallet work toward developing an international on-chain economic system that supports innovative activities while defending financial independence. The major obstacle that numerous countries face is the challenging nature of acquiring crypto assets with their national currencies. The combination of complex verification policies and high conversion fees acts as a barrier to stopping new users from accessing the market.
Coinbase established this partnership to establish a Nigerian user platform which follows all local regulatory standards. The verification process will run through Onboard to establish a protected trading platform. Through this approach, Coinbase minimizes the potential regulatory challenges across the area.
Coinbase Partnership Supports Financial Inclusion in Nigeria
Before this partnership, Coinbase refused to operate crypto-buying services in Nigeria because the governing authorities implemented restrictions. The verification process handled by Onboard now permits Nigerian users to participate in secure crypto trading activities. Users from Coinbase have the ability to make crypto purchases below $100 without needing to fulfill Know Your Customer (KYC) verification. The process will enable Nigerians to navigate the crypto marketplace with more ease.
Base will integrate into the partnership as Coinbase’s layer-2 blockchain network alongside other elements. It functions on the Ethereum platform, allowing users to transact currency with 540 different tokens. Base integration delivers Nigerian users a scalable and economical platform to execute their crypto transactions.
The government of Nigeria has initiated measures to govern cryptocurrency transaction activities. The government aims to raise money by implementing taxation requirements for cryptocurrency trades. Crypto trading platform licensing is scheduled for launch by the government this year.
Coinbase, through its strategic alliance with Onboard, has successfully accelerated the growth of cryptocurrency adoption throughout Nigeria. It offers users greater financial inclusion and access to a growing digital economy.