Nigeria’s First “Compliant” Stablecoin Launches Amid Skepticism
- cNGN has been launched as Nigeria's first compliant stablecoin.
- The stablecoin is included in the Nigerian SEC's incubation program.
- cNGN is live on two licensed digital asset exchanges.
While the launch of cNGN represents a significant step towards regulatory compliance in Nigeria's digital economy, its success may be hindered by the naira's depreciation and the preference of users for more stable alternatives like USDT. The long-term viability of cNGN will depend on its ability to gain user trust and adapt to the evolving digital asset landscape.
