Asset Chain, a Nigerian blockchain infrastructure company, has launched its eponymous blockchain, a Layer-1 (L1) network built to provide a safer and faster way for Nigerians to trade digital assets and real-world assets—like property or commodities—directly with each other, without relying on middlemen or traditional banks. The launch introduces a new decentralised exchange (DEX) where users can trade between USDT, a dollar-backed stablecoin issued by Tether, and cNGN, a Naira-backed stable...

Quidax, the Nigerian crypto startup that received a provisional licence in August 2024, has listed cNGN, the country’s first regulated stablecoin pegged to the naira. The move, which comes a month after another provisionally-licenced crypto startup Busha listed the cNGN, underscores Nigeria’s evolving approach to crypto regulation, balancing oversight with the growing adoption of digital currencies. The March 12 listing will allow Quidax users to send and receive cNGN between wallets with th...

Busha, a Nigerian cryptocurrency exchange that secured a provisional licence from the country’s Securities and Exchange Commission (SEC) in August 2024, has listed the compliant NGN (cNGN) on its platform. This marks the introduction of Nigeria’s first private consortium-backed stablecoin, pegged 1:1 to the Naira.  On February 3, Busha announced the stablecoin listing. Users can buy cNGN and sell it back to the platform, as Busha controls its own liquidity. However, users cannot send it to...