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Tatcoin founder ‘Gaius Chibueze’ reacts to CBN’s ban on cryptocurrency transactions in Nigeria banks

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Tatcoin as you may already know was created in 2019 by Mr Gaius Chibueze. The purpose was to create a token that would serve as a digital currency for an ecosystem. Hence ABiTNetwork was created.

The first use case of Tatcoin as payment is for online courses on the ABiTrader Platform which is one of the Applications that the ABiTNetwork company launched. The Tatcoin Presale started in December 2019 and ran all the way until June 2020. Throughout the Presale ABiTNetwork raised over $720,000 at a pre-sale price of 0.03 USD. Tatcoin Presale is the most successful presale that has ever come out of Africa.

Recently the Central Bank of Nigeria banned all Nigerian banks from conducting cryptocurrency transactions. This has caused panic amongst cryptocurrency traders. However the Tatcoin boss begs to differ. In his words;

READ ALSO: CBN warns financial institutions against crypto currency

“The CBN doesn’t have an understanding of the crypto market and needs to do more studies before creating policies for it. Tatcoin can thrive without the support of banks. The major reasons Cryptocurrency needs banks is payment processing. They can stop providing that service for Cryptocurrency Startups but can’t do that for every single individual in the Cryptocurrency space. That’s why Tatcoin will continue to grow and flourish via the Peer 2 Peer method”

Vanguard News Nigeria

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