Our CEO, Michael Adeyeri and CPO, Moyo Sodipo, recently had a sitdown with Chainalysis podcast to discuss different topics, from how and why Busha was started, where Busha is heading and even dispelling the misunderstanding people have about cryptocurrencies in connection to money laundering.
They discussed the ease of trading and receiving global payments with crypto, going into cryptocurrency first for the purpose of profit, dealing with banking challenges in Nigeria as a cryptocurrency service provider, stablecoins, NFTs, self-regulating and much more.
An excerpt from Moyo reads, “We ensure to self-regulate, and we are constantly in talks with regulators like the SEC, other law enforcement like the NFIU who monitor transactions in Nigeria, and also law enforcement like the EFCC. So that whenever the SEC or any regulator is ready to come on board with cryptocurrency, we know that we’ve been properly prepared since day one. Compliance-wise, ensuring that the same systems and KYC required to open any bank account in Nigeria are the same systems you need to open a Busha account.”
Michael Adeyeri spoke on how his lightbulb moment to start Busha with his friends came to fruition when he had to constantly send money to friends in New York to buy & keep his crypto, which in his opinion, wasn’t sustainable. Hence, the first version of Busha was written by Michael. Since then, Busha has grown and continues to expand its service offerings, with intentions to expand into other African markets like Ghana and Kenya.
To listen to the full episode, click the link below.
Spotify Podcasts - Powering the Digital Asset Transformation in Nigeria and Beyond