Nigerian Bank to Launch Compliant Naira Stablecoin cNGN in 2024
cNGN stablecoin, jointly developed by Nigerian banks, fintech companies, and blockchain companies, is scheduled to be launched in 2024. cNGN will be pegged 1:1 to the Naira, becoming a legal tender held by banks. Unlike the eNaira, cNGN is a cryptocurrency maintained by a bank alliance, aiming to simplify the international transfer of Naira and regulated by the Central Bank of Nigeria and the Securities and Exchange Commission. The launch of cNGN is expected to have an impact on currency policy and market dynamics in 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Discover Enormous Potential in Cryptocurrency’s Next Big Wave
In Brief The crypto market is showing similarities to the Dot-Com bubble era. There is a bullish expectation for XRP and SEI with potential price increases. Institutional interest in crypto may support Bitcoin and altcoins' prices.
Trump Declares Broad Support for Cryptocurrencies
Animoca and Cream Labs Invest in TrendX Platform
JPMorgan Completes First Public Tokenized Bond Trade
Trending news
MoreCrypto prices
More
