LA SUITE APRÈS LA PUBLICITÉ

The Virtual Asset Service Providers Association – VASPA, a Pan-African industry body, has launched an ambitious digital frontier roadmap aimed at integrating over $92.1 billion in annual virtual asset volume into the formal economy.

Dubbed “Project Green-White-Green,” the initiative seeks to bridge the gap between the informal digital asset sector and national financial structures. Franklin Peters, Executive Chair of VASPA and CEO of Boundlesspay, emphasized that the project is a proactive effort to architect the future of finance in Nigeria, providing a definitive framework for operators and investors to participate in the nation’s digital economic growth.

The initiative addresses a significant revenue gap identified in a recent whitepaper, which revealed that between July 2024 and June 2025, Nigerians conducted over $92 billion in virtual asset transactions.

Due to a lack of formal infrastructure and regulatory alignment, the majority of this massive volume currently generates zero tax revenue. Project Green-White-Green is positioned as a strategic tool to help Nigeria achieve its $1 trillion economy goal by 2030 by capturing and taxing this high-growth sector while creating a structured environment for indigenous Web3 startups to flourish.

A cornerstone of the roadmap is the 24-Month Sovereign Integration Roadmap, designed to bring global offshore exchanges into the Nigerian regulatory fold. According to Project Manager Favour Uche, the framework will eventually require these international entities to localize their operations as “digital residents,” ensuring they pay taxes and partner with local firms to upskill Nigerian talent.

This phase represents a transition from industry feedback to a technical and legal blueprint intended for presentation at the highest levels of government to ensure national interests are met.

Furthermore, the project aims to resolve the “chicken-and-egg” regulatory paradox that currently plagues the industry, where inter-agency bottlenecks between the Corporate Affairs Commission – CAC, the Securities and Exchange Commission – SEC, and the Central Bank of Nigeria – CBN prevent businesses from incorporating or obtaining licenses.

By ending this fragmented oversight, VASPA hopes to clear the legal path for local practitioners. While the pilot focuses on Nigeria, VASPA intends to replicate this framework across other key African markets to lead a continent-wide shift in the digital asset regulatory landscape.