Nigeria’s central bank has opened a regulatory testing window for virtual-asset businesses, offering local founders a clearer path to develop and test digital financial products under supervision.
The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, now including a dedicated track for virtual asset businesses.
Applications will open on August 12 and will close on August 31, 2026.
The new Virtual Asset Service Provider (VASP) Track is designed for businesses building solutions in virtual assets, stablecoins, payments, settlement, custody, digital wallets, and related financial infrastructure.
For Nigeria’s startup ecosystem, this creates a clearer pathway for fintech and digital asset founders. Instead of building in isolation, eligible companies can test products within controlled CBN conditions.
Startups working on cross-border payments, digital wallets, stablecoin products, or blockchain-based settlement systems can use the sandbox to test real-world performance while meeting regulatory expectations.
However, participation in the sandbox does not grant a licence to operate outside the testing environment. Full regulatory approval is still required before broader market deployment.
The CBN is also introducing a separate Data-Enabled Financial Services track focused on secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, and efficiency.
