Nigeria Launches First Compliant Stablecoin cNGN

According to PANews, Nigeria has introduced its first compliant stablecoin, cNGN, which is now listed on two exchanges. This stablecoin is part of a project incubated by the Nigerian Securities and Exchange Commission. Nigerian Senator Ihenyen stated that the cNGN, pegged to the Nigerian Naira, aims to facilitate faster, cheaper, and more secure cross-border payments.