DeFi Technologies has announced a strategic investment in Continental Stablecoin Inc. (CSI), aiming to bolster the development of regulated local currency stablecoins across Africa, particularly Nigeria’s cNGN stablecoin. This investment, conducted through a Simple Agreement for Future Equity (SAFE), is part of a larger consortium that includes notable players such as Coinbase Ventures and Adaverse.
Nigeria has emerged as a leader in the global stablecoin sector, boasting over 25.9 million users and an 11.9% market penetration rate. This remarkable growth is fueled by a rising demand for USD-pegged assets, the need for efficient cross-border transactions, and favorable regulatory changes. The Securities and Exchange Commission of Nigeria has recognized digital assets as securities under the Investments and Securities Act 2025, while the Central Bank of Nigeria has issued updated guidelines promoting the integration of cryptocurrency firms into the formal banking system.
CSI is addressing the evolving regulatory landscape by creating a stablecoin framework designed to meet the needs of banks, fintech companies, and retail users alike. The cNGN stablecoin, developed by Wrapped CBDC Limited—a collaboration of leading blockchain firms in Africa—aims to facilitate secure, transparent, and scalable digital payments within Nigeria and beyond. As of mid-September 2025, approximately 602.9 million cNGN tokens are in circulation, underscoring the stablecoin’s growing traction. It has processed over 75,000 on-chain transactions with cumulative trading volumes exceeding 20.1 billion cNGN.
Andrew Forson, President of DeFi Technologies, expressed optimism about the role of locally regulated stablecoins in modern financial systems, highlighting their potential to enable real-world applications in payments and commerce across Africa. This investment aligns with DeFi Technologies’ broader strategy of fostering compliant digital asset infrastructure globally. The company has been proactive in establishing a presence in multiple markets, with initiatives ranging from its Valour ETP platform in Europe to digital asset solutions for public entities through DeFi Advisory.
This partnership with Continental Stablecoin Inc. positions DeFi Technologies at the intersection of compliance, innovation, and infrastructure, intended to drive long-term value in both emerging and established financial markets. As the digital asset landscape continues to evolve, DeFi Technologies remains committed to investing in trusted, compliant frameworks that support substantial growth across the global market.
