What is cNGN and how does it work?

cNGN is Nigeria's first regulated stablecoin pegged 1:1 to the Nigerian Naira. It operates on blockchain technology and is backed by Naira reserves held in regulated commercial banks and government securities. You can use it to send money instantly across borders, make payments, and access decentralized finance applications without converting to foreign currencies.

How much does cNGN cost?

cNGN does not have a fixed “fee” for holding or using the stablecoin itself, but certain onboarding or verification processes may require applicable fees depending on account type and services used.

What countries does cNGN operate in?

cNGN is available globally on blockchain networks including Assetchain, Bantu, Base, Binance, Ethereum, Polygon, and TRON. Anyone worldwide can hold and send cNGN, though it is designed primarily for Nigerian users and those sending money to Nigeria.

How do I sign up for cNGN?

Sign up for cNGN by creating an account on their official platform and submitting your business/contact details through the onboarding form on app.cngn.co, then completing verification steps as required.

Who is cNGN best suited for?

cNGN is best suited for Nigerians abroad sending remittances home, freelancers and remote workers receiving international payments, small businesses accepting cross-border payments, and unbanked or underbanked individuals seeking digital financial access without traditional banking requirements.

How do I contact cNGN support?

You can contact cNGN support via the official contact form on their website or by emailing contact@cngn.co for inquiries and assistance.

Does cNGN have a plan for teams or businesses?

Yes, cNGN offers benefits for businesses including quicker payment settlements, lower transaction fees, and the ability to accept payments from international clients without long settlement times. Businesses can integrate cNGN as a currency for transactions.

Does cNGN offer an API or integrations?

Yes, cNGN offers a public API. View the official cNGN API documentation for endpoints, authentication, and integration guides.

cNGN

🇳🇬 Nigeria

A regulated Naira-pegged stablecoin for Nigerians, diaspora users, businesses, and developers to make on-chain payments, remittances, and integrations via API/SDK.

Use it on:Web API

Is cNGN right for you?

Best for

Nigerians abroad
Nigeria businesses
Online merchants
Payment app builders
On-chain payers

What it does well

Naira-pegged stablecoin
On-chain Naira settlement
Cross-border remittances
Public blockchain transfers
API and SDK

Things to check

Regulatory status details
Supported blockchains
Wallet compatibility
Fees and limits
Cash-in cash-out options

cNGN is a compliant Naira stablecoin for individuals, businesses, and developers who need Naira-denominated value for on-chain payments, remittances, and digital commerce.

Key capabilities include:

1:1 Naira peg with reserve backing; each token is designed to match the Nigerian Naira and is backed 100% by Naira reserves held at licensed custodian banks
Multi-blockchain settlement across Ethereum, Polygon, Binance Smart Chain, Base, TRON, Assetchain, and Bantu (the primary issuing blockchain)
Developer tooling for integrations, including API and SDK access, wallet infrastructure, bridge functionality, and minting and burning support (with multiple programming languages)
Regulated issuance and compliance under oversight of Nigeria’s Securities and Exchange Commission (SEC)

Available on Web (including access via SEC-licensed Nigerian exchanges such as Busha and Quidax) and via API/SDK for enterprise and developer integrations.

Target users include Nigerians and diaspora communities sending cross-border remittances, crypto traders who want Naira exposure without price volatility, and businesses building blockchain-based payment and settlement flows.

Notable in the African market context, it launched on February 3, 2025 as Africa’s first regulated stablecoin, operating on public blockchains with distributed governance across members of the Africa Stablecoin Consortium, positioning it as a privately managed complement to Nigeria’s eNaira.

Categories:

Crypto & Web3

Features & Business Model:

b2b2c cross-border-payments remittances stablecoins