Opay, a prominent fintech company, has announced the discontinuation of cryptocurrency and virtual currency trading for its customers.
The decision was communicated via the company’s official social media account X (formerly Twitter) where Opay’s management said that “any account engaging in such activities will be closed, and customer information will be shared with regulatory authorities.”
This move comes amid efforts by Opay to uphold a secure financial environment and combat illegal activities within the fintech sector, the company said.
The decision aligns with recent directives from the Central Bank of Nigeria (CBN), which instructed fintech companies like Opay, PalmPay, Kuda Bank, and Moniepoint to halt the onboarding of new customers to address alleged illegal activities.
Opay has urged its customers to ensure that their accounts are not involved in any cryptocurrency or virtual currency transactions, emphasizing compliance with regulations set by the CBN and other regulatory bodies.
As Opay reaffirms its commitment to regulatory compliance, the company advised its customers to adhere to the company’s guidelines to avoid account closures and regulatory scrutiny.
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