cNGN
Issuers
Cross Border
Bridging Nigeria's Financial Future: Regulated, Transparent, Borderless.
Founders
Adedeji Owonibi (Founder of Convexity & Director at cNGN)
Seun Dania (Founding Member)
Launch Date
2023
Key Investors
About
cNGN is Africa's first regulated stablecoin, backed by the Nigerian Naira and fully compliant with SEC regulations. It offers near-instant settlements, cross-chain functionality, and auditable reserves with daily transparency reports. Designed to bridge traditional finance with digital assets, cNGN provides cost-effective transactions, enhanced security, and seamless connectivity across multiple blockchains—unlocking Nigeria's digital economy for fintechs, institutions, and individual users alike.
4.4K
tokens in circulation
6
blockchain networks used
Use Cases
- Cross-Border Payments - Nigerian exporters and freelancers use cNGN for instant, low-cost international transactions without traditional banking delays, maintaining stable value while reducing fees.
- Transparent Financial Auditing - Financial institutions leverage cNGN's blockchain-based transparency for real-time transaction tracking and regulatory compliance with SEC standards.
- Domestic Business Settlements - Small-to-medium Nigerian businesses use cNGN for near-instant 24/7 settlements with partners, eliminating banking hours restrictions and reducing costs.
- Financial Inclusion Gateway - Fintech platforms integrate cNGN to provide regulated digital financial services to underserved populations, enabling secure transactions without traditional accounts.
cNGN's Role in Nigeria's Digital Finance
- cNGN is designed to maintain a fixed value, making it practical for payments, remittances, and trading.
- It aims to provide a stable digital currency that mitigates the volatility associated with traditional cryptocurrencies.
- It is now available on licensed digital asset exchanges such as Busha and Quidax.
- It is under Nigeria's Securities and Exchange Commission (SEC) Regulatory Incubation (RI) Program.
- As of February 5, there were reportedly 4,400 cNGN tokens in circulation, owned by 13 individuals across six different blockchain networks.
cNGN's Impact on Financial Inclusion and Economic Efficiency
- cNGN could provide a more accessible entry point into digital finance for Nigerians, especially those unbanked or underbanked.
- Businesses may experience quicker payment settlements and lower transaction fees.
- It could support a more seamless financial ecosystem by reducing inefficiencies in traditional banking processes.
- It is poised to drive Nigeria's adoption of blockchain technology.
- It reduces dependence on USD as a secure asset for pulling investment in the digital world.
Trusted by
Busha, Quidax, Convexity, Interstellar, Digital_Currency, Alpha_Geek
