On 11 November, 2024, Marino FX LTD launched Nigeria’s SEC-Licensed Crypto Exchange, giving a new definition to cryptocurrency, a digital currency, which is an alternative form of payment created using encryption algorithms.
With the application of encryption technologies, cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.
However, Marino X powered by Kyrrex, has launched a pioneering cryptocurrency exchange which has gained entry into the Accelerated Incubation Regulatory Program (ARIP) by the Securities and Exchange Commission (SEC) in Nigeria.
This innovative platform was lauznched in Abuja, during a dinner attended by high-profile politicians, business moguls and captains of industry.
This launch marked a significant milestone in Nigeria’s financial technology and digital asset ecosystem, aiming to empower millions of Nigerians and international investors with secure, regulated, and user-friendly access to cryptocurrency trading.
As one of the first SEC-licensed crypto exchanges in Nigeria, Marino FX offers investment schemes, private equity, venture capital, infrastructure funds, features and cryptocurrency trading including P2P.
With an increasing demand for digital assets in Nigeria, Marino X powered by Kyrrex has designed a platform to support both new and experienced traders, fostering a safe and compliant environment for digital asset transactions.
According to Eval Esege, CTO of Marino FX, key fjeatures of Marino X powered by Kyrrex Include: Compliance and Security: Marino X is fully licensed through ARIP by the Security and Exchange Commission of Nigeria, ensuring that all operations align with regulatory guidelines, a critical step towards building investor confidence in a developing crypto market.
User-Friendly Interface: Tailored to offer intuitive navigation, Marino X provides an accessible platform for users at any level, from beginners to seasoned traders, with tools for real-time market analysis and instant trading.
Advanced Security Measures: Marino X has implemented state-of-the-art security protocols, including multi-layered encryption and two-factor authentication (2FA), to ensure the highest standards of fund protection for users.
Wide Range of Supported Assets: From established cryptocurrencies like Bitcoin and Ethereum to emerging digital assets like Cardano, Ripple etc, Marino X enables users to diversify their portfolios within a secure framework.
Dedicated Support Team: Marino X’s commitment to user satisfai..ction is demonstrated through 24 hours customer support, available to address inquiries, resolve issues, and provide guidance on digital asset trading.
Esege added that: “With a mission to bridge the gap between traditional finance and digital currencies, Marino X aspires to increase the accessibility of crypto trading across Nigeria and beyond.”
Sadiq Saadina Dantata, Director of Marino FX said: “The launch is timely, as digital asset interest continues to grow in Nigeria, with trading volume of $70 Billion last year alone, driven by the need for alternative, decentralized financial solutions amid evolving economic landscapes.
“The launch of Marino X represents a breakthrough in Nigeria’s digital asset market. As a licensed exchange, we are dedicated to providing Nigerians with a secure, regulated, and accessible platform that meets the highest standards of compliance and user experience.
“ We are excited to be at the forefront of crypto adoption in Nigeria and look forward to empowering millions of users to explore new financial opportunities,”
“Today marks a historic moment for Marino X and the Nigerian crypto community. We’re proud to unveil a platform built on innovation, security, and user experience.
“ With Marino Exchange, we’re empowering individuals and businesses to embrace the future of finance. This is just the beginning. We’re excited to continue our journey, driving the adoption of cryptocurrencies across
Africa.
“Marino FX invites investors, crypto enthusiasts, and the broader public to join the platform and experience the benefits of a regulated, secure, and innovative trading environment.
“With a strong commitment to transparency, compliance, and customer satisfaction, Marino FX is set to become a trusted leader in Nigeria’s crypto space.”
Among the guests at the launching were Kashifu Inuwa DG/CEO of the National Information Technology Development Agency (NITDA); Senator Sani Musa, Chairman Senate Committee on Finance; and the Chairman Danba Group, Saadina Dantata.