The rapid growth of virtual assets has created a significant divide between core crypto Virtual Asset Service Providers (VASPs) and traditional operators in Africa.
This gap is further exacerbated by the common policy and regulatory challenges that most African countries face in navigating the complex landscape of virtual assets.
To address these challenges and foster collaboration across the continent, the Virtual Assets Service Providers Association (VASPA) was founded.
VASPA’s Vision, Mission, and Objectives
VASPA’s vision is to make Africa the most business-friendly and trusted market in the global virtual assets industry.
Our mission is to build trust and confidence in the industry by promoting the safe adoption, bridging the gap between traditional operators and new players, and promoting global best practices in the virtual assets industry.
Driven by our vision and mission, we can create a thriving and trusted virtual asset ecosystem in Africa, where innovation and growth can flourish. We will promote a coordinated and collaborative approach to policy, regulation, and industry best practices, ensuring that Africa’s virtual asset sector operates with integrity, transparency, and accountability, through self-regulation and collaboration with governments, policymakers, and regulators across Africa.
VASPA’s objectives
- Bridge the gap between new players and traditional operators in the virtual asset industry.
- Promote global best practices amongst members in the virtual assets sector.
- Collaborate with members and stakeholders to promote blockchain technology awareness, education, and adoption across various industries and sectors.
- Promote a fair, transparent, and efficient virtual assets sector for the benefit of its members.
- Promote collaboration and champion policies that will help boost the use and adoption of blockchain for national development.
We will foster collaboration and knowledge-sharing among VASPs, policymakers, and regulators and support innovation in the virtual asset sector.
Membership Classes
VASPA membership is categorized as follows:
Individual Members
- Expert: An academic or researcher with a proven track record of contributions to teaching, research, and development in the virtual assets industry
- Professional: Active professional providing services to the virtual assets industry and has a verified membership of relevant professional bodies (legal, accounting, compliance, etc.).
- Associate: Minimum of 1-year experience in any financial services, technology sector, regulatory compliance, digital assets trading, blockchain development, fintech industry OR currently enrolled in relevant professional certification programs and recommended by an existing member—individual, corporate, or institutional—in good standing.
Corporate Members
- Patronship Tier: Established and reputable industry player with track record in innovation and advocacy
- Partnership Tier: Strategic partners seeking enhanced collaboration
- Market Leader Tier: Major players with a significant market presence locally and internationally with annual revenue above $5,000,000
- Growth Tier: Growing companies and local players with annual revenue of up to $1,000,000 to $5,000,000
- Startup Tier: Early-stage VASPs and new market entrants with annual revenue of less than $1,000,000.
Institutional Members
Institutional Members: Must be an accredited academic institution, research centre, or think tank and have active programs, projects, or interests in virtual assets and blockchain technology and must demonstrate commitment to research, education, and innovation in the virtual assets industry.
To view our Membership Brochure, please click here.
Membership Benefits
We have specially packaged various levels of membership benefits based on each member’s class. These benefits are outlined in our membership brochure which is available here [insert link]:
Generally, by joining VASPA, members can benefit from the following:
- Networking opportunities with industry stakeholders, policymakers, and regulators
- Access to exclusive events, training, and capacity-building programs
- Participation in working groups and committees shaping the future of virtual assets in Africa
- Opportunities for collaboration and business development
- Enhanced credibility and visibility through advocacy efforts
Legal Status and Leadership
Presently, VASPA is registered with the Corporate Affairs Commission (CAC) in Nigeria, currently governed by its founding Trustees and a Steering Committee. Our leadership comprises a Board of Trustees and a Steering Committee, with key industry players, including Adedeji Owonibi and Senator Ihenyen, the nonexecutive Chair and Executive Chair of the Steering Committee, respectively. For more information about our leadership, visit the leadership page of our website.
With representatives from various African countries and through strategic partnerships, we bring together the virtual asset sectors across Africa. For more information about our leadership, visit the leadership page on our website.
Take Action: Join VASPA Today!
VASPA is currently offering a one-year free basic membership for both organizations and individuals, effective April 1 2025.
To indicate your interest in becoming a VASPA member, whether as an individual, corporate body, or institution, please submit your membership interest form here. Before submitting your form, please ensure that you studied our Membership Brochure to enable you determine which membership class is most suitable for you or for your organization.
Don’t miss this opportunity to be part of a vibrant community shaping the future of virtual assets in Africa. Join VASPA today and contribute to creating a trusted and thriving virtual asset ecosystem in Africa.
Together, let’s unlock the potential of virtual assets in Africa with trust and confidence!
