CBN approves naira stablecoin, to launch February 27
The Central Bank of Nigeria (CBN) has approved the launch of the Nigerian naira (cNGN) stablecoin. The cNGN, which will be launched on February 27, 2024, is powered by the Africa Stablecoin Consortium (ASC), a consortium of Nigerian financial institutions, fintechs, and blockchain experts. Stablecoins are cryptocurrencies specifically designed to maintain a constant value. They…