10.4K @BitcoinKE REALITY CHECK 🇳🇬 | ‘Nigerian Fintechs Are Not Integrating cNGN,’ Say Nigerian Web3 Leaders
@Harri_obi, a prominent community builder within the #Nigerian #Web3 space said:
“For the few fintechs I’ve spoken to, the economics aren’t compelling enough,” Harri said.
“If they’re already settling via bank transfers or dollar stablecoins, adding another asset means engineering work, compliance reviews, treasury management and liquidity provisioning.”
https://t.co/DMaFu5P5w7
@cngn_co @seunlanlege
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3.2K @MR_DY0R_Of_Web3 3.2K @MR_DY0R_Of_Web3 Let's talk @cNGN
🔹️What is the cNGN (Compliant Naira) ?
You probably know of stablecoins like Tether (USDT) and USD Coin (USDC), which are pegged to the US Dollar.
Compliant Naira (cNGN) is the Nigerian stablecoin pegged to the Nigerian Naira (NGN) in a 1:1 ratio.
That means 1 cNGN is equal to 1 Naira, so it’s like having the Naira, but this time on the blockchain.
With cNGN, you can avoid the price swings that come with cryptocurrencies like Bitcoin and Ethereum.
🔹️How does this Work?
cNGN is a Naira-backed stablecoin. It’s a digital form of the Naira that exists on various blockchains. These include @rwaassetchain, Bantu, Base, Binance, Ethereum, Polygon, and TRON, but Bantu is the primary blockchain that issues the token to users.
You can buy and sell cNGN on some cryptocurrency exchanges that have listed the coin and you can also trade with it if you prefer less-risky market conditions.
cNGN is 100% backed by Naira reserves held at licensed custodian banks. That means for every existing cNGN
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4.2K @cngn_co Testnet faucet. Contract addresses. SDK layer. Bearer auth.
cNGN is built so Nigerian products can price, settle, and pay out in native currency.
For everything a builder needs to put naira on-chain, here in one guide.
Read here!
https://t.co/SStpAtGsO7 https://t.co/hCTNf96NpW
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