Nigerian Crypto Exchange Patricia Receives Mixed Reactions for Introduction of Native Token
Summary:
Nigerian cryptocurrency exchange Patricia introduces its native token, Patricia Token (PTK), raising doubts within the local crypto community. Concerns arise over the lack of transparency and potential risks associated with the transition to the new token.
Nigerian cryptocurrency exchange Patricia has recently launched its own native token called Patricia Token (PTK), but the introduction has sparked skepticism within the local crypto community. Native tokens are digital assets unique to a specific blockchain platform or exchange, and Patricia aims to transition its operations to the Patricia Plus app. The company claims that PTK is a stablecoin pegged 1:1 to the US dollar and plans to replace customers' existing Bitcoin and naira balances with it. However, concerns have been raised about the lack of information on PTK and the potential for a mass withdrawal that could undermine its stability.
Published At
8/24/2023 10:41:09 AM
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