04-21-2023 icon

Crypto Trading Platform Roqqu Secures Operational License in South Africa 

By Lucy Adegbe

Roqqu, a Nigerian digital currency trading platform, has scored an operations license in South Africa, enabling customers to buy digital currencies and make withdrawal transactions with the nation’s legal tender, which is the South African Rand, as reported by national media. 

South Africa has been a major target for Roqqu in its attempt to dominate the African digital space. During a past discussion session with Cointelegraph, the trading platform tagged South Africa as the focus of attention for its development agenda, which encompasses attaining up to five million customers before the end of this year.

The trading platform alleged that it had more than 1.4 million active users as of the first month of the year, when it bagged a digital currency approval for the European Economic Area, permitting it to render its services in more than 30 nations. The platform had to wait 24 months to get the green light from the nation’s regulatory unit. 

Roqqu’s agenda is focused on simplifying international transactions using digital currencies, majorly in Africa. As explained by the exchange chair Benjamin Onomor, Africans who dwell and work abroad often make transfers exceeding $5 billion on an annual basis to their families back home. These transfers are usually stressful as they take days to get completed. 

Roqqu plans to reach and set up operations in areas like Ghana, Kenya, Uganda, and Tanzania in the latter years.