AppZone, a payment infrastructure company, has announced that the Central Bank of Nigeria has granted it approval in principle to operate under the Switching and Processing licence category.
According to the firm, this will allow it to expand its transaction switching and processing services currently offered to banks and fintech’s through its blockchain-based payment network, ZONE, launched in December 2021. In a statement, the Co-Founder and Chief Executive Officer of AppZone, Obi Emetarom, said, “We are excited about the issuance of the Switching license. We look forward to the progress it will enable for the payment and finance ecosystem.
“As a payment infrastructure company, we believe that this milestone will enable us to connect every financial store of value within Nigeria and link them to the rest of the world.”
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