Insights

Insights

/

Details

VASPA Launches to Power Africa’s Digital Finance Future

Author

VASPA Admin

Post Date

Africa’s Premier Industry Body Unites Innovators, Regulators, and Investors to Shape the Continent’s Virtual Asset Ecosystem

On June 1, 2025, the Virtual Asset Providers Association of Nigeria (VASPA) officially launches as Africa’s foremost coalition of virtual asset service providers (VASPs), blockchain innovators, fintech leaders, technology legal luminaries, and policymakers—ushering in a new era of secure, innovative, and inclusive digital finance across the continent.

Springing from Lagos, Nigeria, VASPA emerges as a critical alliance to achieve the following

  • Advocate for balanced regulation that fosters innovation while protecting users.
  • Drive interoperability between African virtual asset markets.
  • Combat fraud through industry-wide security standards.
  • Position Africa as the next frontier for blockchain-powered growth.

Why VASPA? Why Now?

“Imagine a future where Africa’s virtual asset industry blazes with innovation, fueled by unbreakable trust and unstoppable collaboration. A future where the specter of fraud and scams is all but eradicated, thanks to the unwavering unity of good actors who refuse to let bad ones tarnish their mission.”

— Senator Ihenyen, Executive Chair, VASPA

  • Regulatory Clarity & Compliance: VASPA will work with relevant African regulatory bodies and global organizations, such as the Financial Action Task Force (FATF), to draft Africa’s first Code of Conduct for VASPs, covering:
    • AML/CFT frameworks tailored to African realities.
    • Consumer protection guidelines.
    • Tax compliance best practices.
  • Market Expansion & Liquidity: Through partnerships with Pan-African fintechs, banks, and blockchain networks, VASPA will:
    • Pilot cross-border stablecoin corridors.
    • Launch a liquidity alliance to deepen African crypto markets.
  • Education & Trust: VASPA’s Trust Seal certification will help users identify compliant platforms, while its Digital Asset Literacy Program targets 1 million Africans by 2026.

Inaugural Members & Partners

VASPA opens membership to:

  • Leading African exchanges
  • Payment processors
  • Blockchain protocols
  • Technology innovators
  • Regulatory advisors and firms
  • Other Virtual Asset Service Providers
  • Academia and research bodies within the ecosystem

Join the Movement

Apply now at https://vaspa.org/become-a-member or contact us for media inquiries via (+234) 916 4618 395 or email: info@vaspa.org.

Related Posts

The NRS VASP Tax Compliance Gateway (VASP TCG) Registration is Now Open

The Nigeria Revenue Service (NRS) has officially commenced the operationalization of the Nigeria Tax Administration Act, 2025 (NTAA) concerning digital assets. As part of this rollout, the NRS has launched the VASP Tax Compliance Gateway (VASP TCG). This portal serves as the official infrastructure for all Virtual Asset Service Providers (VASPs) to register and report relevant virtual asset transactions. Under Section 25 and the Fifth Schedule of the NTAA, and guided by the July 2026 NRS Guidelines on the Taxation of Virtual Assets, registration on the VASP TCG is a mandatory compliance requirement for all operators. Notably, this new system is designed to allow for applicable taxes to be collected and remitted directly in tokens. In collaboration with the NRS, the Virtual Asset Service Providers Association (VASPA) is mobilizing both our fully onboarded members and the broader ecosystem to begin this registration process. Participating in this framework is a critical step in standardizing virtual asset operations, validating the legitimacy of the digital asset sector to statutory regulators, and sustaining the growth of our digital economy. Resources & Next Steps To ensure a smooth onboarding process for the entire ecosystem, the NRS has provided the following resources (links below): Virtual Asset Compliance Program Overview;NRS...