According to Foresight News, the cryptocurrency trading app VIBRA, launched by African Blockchain Lab, has ceased operations in Nigeria since July this year. Vincent Li, co-founder of African Blockchain Lab and founding partner of Web3 accelerator Adaverse, stated that the business is currently undergoing a transformation, but did not reveal any details.

African Blockchain Lab had completed a $6 million funding round in December 2021, with investors including Lateral Frontiers and Dragonfly Capital.