Africa Stablecoin Consortium Launches cNGN for Global Naira Transactions

cNGN bridges Naira with global markets, offering 1:1 backing, swift transactions, and borderless financial opportunities.

The Africa Stablecoin Consortium has announced the official launch of the Compliant Nigerian Naira StableCoin, cNGN, a revolutionary financial tool designed to establish a seamless bridge between the Nigerian Naira and the global market.

Key Features of cNGN:

  1. 1:1 Backing: Each unit of cNGN is backed by Naira reserves held in designated banks, ensuring a secure and stable value.
  2. Swift Global Transactions: Offering transaction speeds comparable to text messaging, cNGN facilitates rapid and efficient financial transactions.
  3. Global Reach: Users can shop, transact, and invest on a global scale while working with the familiar currency of the Naira.

Advantages of cNGN:

  • Global Commerce: Enjoy the convenience of paying for goods and services globally with a simple tap.
  • Instant Remittances: Send funds home instantly, making a positive impact on the lives of loved ones.
  • Borderless Business: Engage in seamless global trade, overcoming traditional barriers and facilitating international business transactions.

The launch of cNGN represents a significant step in the evolution of stablecoins, introducing a compliant and transformative financial instrument that opens up unprecedented opportunities for financial transactions and global connectivity.

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