Nigerian crypto exchange Bitmama is back in action, allowing users to deposit funds on its platform after a brief pause earlier this month.
The company clarified that the suspension was necessary for crucial security updates and third-party infrastructure maintenance. Despite the deposit halt, direct crypto deposits increased in Nigeria, Ghana, and Kenya.
Bitmama, which recently acquired Payday, emphasised its commitment to user protection, implementing measures to prevent potential misuse by malicious individuals.
The company has now resumed fiat deposits, but accounts showing suspicious activities will face restrictions.
This development aligns with the Central Bank of Nigeria’s decision to permit banks to engage in crypto-related transactions, opening doors for crypto companies like Bitmama.
Quidax, another Nigerian exchange, also announced free deposits and withdrawals in response to the regulatory shift.
Bitmama expressed resilience amid the global crypto industry challenges, assuring users of upcoming updates across its products, including Changera, a cross-border payment solution.
Related Posts
Klasha Raises An Additional $2 Million To Expand B2B Cross-Border Payment Rails Into China
Moove Expands To Mexico, Extending Global Footprint
