Nigeria launches its first compliant stablecoin cNGN

Nigeria has launched its first compliant stablecoin, cNGN. The stablecoin has been listed on two exchanges and has entered the Securities and Exchange Commission (SEC) incubation program. According to Nigerian Senator Ihenyen, this stablecoin, which is pegged to the Nigerian Naira, will enable faster, cheaper, and more secure cross-border payments.