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The Nigerian Securities and Exchange Commission (SEC) announced on Aug. 29 that it had granted “approval in principle to two digital asset exchanges to begin operations. Busha Digital Limited and Quidax Technologies Limited are the first to receive this nod under the SEC Nigeria’s Accelerated Regulatory Incubation Program (ARIP). The regulator also revealed that five firms have been admitted to test their models and technology under its Regulatory Incubation (RI) program. Four of these firms – Trovotech Ltd, Wrapped CBDC Ltd, Housingexhange.NG Ltd, and Dream City Capital – are identified as digital asset offering platforms. Blockvault Custodian Ltd is the only entity admitted as a digital asset custodian. As previously reported by Bitcoin.com News, the Nigerian regulator launched ARIP to expedite the onboarding of entities that submitted license applications. Successful applicants receive provisional approval to commence or continue operating while waiting for digital asset regulations to take effect