Norrenberger’s N1.3 Billion Investment Validates NASD’s Blockchain Bet on Tokenized Nigerian Assets
A significant investment by Norrenberger Securities has cast a spotlight on NASD Plc’s ambitious blockchain initiative, providing a substantial N1.3 billion validation for Nigeria’s burgeoning tokenized securities platform. In a remarkable deal, Norrenberger Securities acquired a 4.35% stake in NASD Plc for N60 per share, a price double the current market rate. This premium valuation underscores a strong belief in the future prospects of NASD, particularly its groundbreaking blockchain-powered system, the Nigeria’s OTC exchange N-DSP. Interestingly, this deal also saw GTI completely divest its 21.76 million shares from NASD in a single block transaction.
Unlocking Trillions Through NASD’s N-DSP Platform
At the core of NASD’s strategy is the N-DSP platform, a pioneering blockchain solution designed to democratize access to Nigeria’s vast, yet largely inaccessible, asset wealth. Nigeria holds trillions of Naira in valuable assets—from commercial properties in prime locations like Lekki to substantial logistics fleets and warehouses—that typically require multi-million Naira investments, effectively locking out the average Nigerian. NASD’s vision is to tokenize these high-value assets, transforming them into fractional digital shares. This innovative approach allows ordinary Nigerians to invest in portions as small as N10,000, instead of requiring N10 million, making lucrative investments accessible to a much broader demographic. These tokenized assets can then be traded seamlessly, much like traditional stocks, with the added benefit of instant settlement powered by blockchain technology. The N-DSP platform, built on Blockstation infrastructure, received crucial regulatory approval from the Securities and Exchange Commission (SEC) in January 2024, paving the way for its implementation.
This substantial investment from Norrenberger Securities serves as a powerful testament to the market’s confidence in NASD’s innovative approach and its potential to revolutionize asset ownership and trading in Nigeria. By unlocking illiquid assets and making them accessible to a wider pool of investors through blockchain technology, NASD is not only creating new investment avenues but also contributing significantly to financial inclusion and economic growth within the African tech landscape.
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