ACM Gold shuts forex operations in Nigeria, other countries to enter crypto world

ACM Gold, once the largest foreign exchange brokerage in South Africa, has announced that it has shut down its foreign exchange operations in Nigeria and a number of other countries to prepare itself for an entry into the world of cryptocurrencies, according to an announcement on its website accessed by businessamlive.com

ACM, established in 2004, has presence in 11 countries including Nigeria, South Africa, Pakistan, the UAE, Tanzania, Kenya, Malaysia, India, Macedonia, Croatia and Botswana. When it opened shop in Nigeria it was first located on Allen Avenue in Ikeja, Lagos.

In the statement on its website, the former online currency broker announced said it was “working on some very exciting things in the crypto world,” but it did not provide additional details on its website and social media accounts.

Its home page displays two email addresses, one for “enquiries related to Crypto wallet, ICO’s [sic] and Blockchain” and the other, apparently meant for people that want to launch their own crypto exchange.

It is not very clear what message the company was passing as there was confusion about accessibility of the email address provided for general enquiry on its site.