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ADI Chain and cNGN say they will bring native issuance of the Nigerian naira stablecoin to ADI Chain, aimed at institutional finance use cases.
ADI Chain is collaborating with cNGN to enable native issuance of the Nigerian naira stablecoin on the ADI Chain network.
A stablecoin is a crypto token designed to track the value of a currency. In this case, it is meant to track the Nigerian naira.
The collaboration points to more blockchain networks trying to support regulated or institution-focused stablecoins.
For builders and operators following Nigerian naira stablecoin adoption, the announcement is another signal that more networks want to host naira-denominated stablecoins rather than relying only on bridged or wrapped versions (tokens brought in from other networks).
Primary Source: CoinMarketCal
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