Belfrics Global, a Bitcoin technology provider and a trading platform, has launched cryptocurrency exchanges in Nigeria.
The launch of Belfrics Nigeria made it the second in Africa where the company is running Bitcoin exchanges.
Founded in 2014, the company presently operates in Singapore, India, Kenya, China, Indonesia, Malaysia, Dubai and Hong Kong.
Speaking at the launch of Belfrics Nigeria weekend in Abuja, Praveen Kumar, Chairman and CEO of Belfrics Global, said the company was in Nigeria to change the database management of public and private operations, using the Blockchain technology.
According to him by adopting the Blockchain technology, government agencies and private organizations would find it easier to bring transparency into their system.
Blockchain is a public record of transactions. "By deploying the Blockchain technology, you are able to achieve transparency in your operations," he added.
He said the Malaysian-based Bitcoin technology provider is working closely with regulators, while its target audience included government organisations, banks, payment service providers, Small and Medium Enterprises (SMEs), educational institutions and private individuals.