cNGN

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.