God is Good Motors (GIGM) to enter Crypto

Leading transportation and logistics company in Nigeria God is Good Motors (GIGM) is set to enter the blockchain and cryptocurrency industry. The transportation company has been in operation in Nigeria since 1998 and has built a network across the country and in Ghana.

Reports and data have shown that Nigeria is one of the leading nations in terms of crypto adoption and it is no wonder why the company has chosen to get onto the blockchain and cryptocurrency industry.

According to our source who has decided to remain anonymous, God is Good Motors (GIGM) has already come up with a cryptocurrency wallet which allows people to store cryptocurrencies.

In the long term, the company hopes to allow users pay for trips with their cryptocurrency wallet, our source added.

The company has been known to be one of the transportation and logistic firms actively integrating technology into its operations. Transporters can book their tickets using the company’s mobile app.

This is coming at a time when the Nigerian cryptocurrency space is suffering from the action of the Central Bank which restricted cryptocurrency trading using the countries financial system by prohibiting banks from facilitating crypto transactions.

After the Central Bank’s prohibition circular on the 5^th of February earlier this year, the CBN called cryptocurrency “black and opaque” and not long after it announced its digital currency, the e-Naira which is expected to launch on the 1^st of October, 2021 – the nation’s independent day.

The CBN has also revealed it will be launching a Digital Wallet called Speed and it hopes to bank the unbanked with the wallet.

It is unclear if God is Good Motors will be launching a crypto token now or in the future and with the country’s regulators position on cryptocurrency, we will just have to wait to see what GiGM comes out with.

What do you think of this story? Share your comments below.