DeFi Technologies Inc. has announced a strategic investment in Continental Stablecoin Inc. (CSI) through a Simple Agreement for Future Equity (SAFE), aimed at fostering the development of regulated local currency stablecoins across Africa, particularly the cNGN stablecoin in Nigeria. This investment has been made in collaboration with prominent partners such as Coinbase Ventures and Adaverse.
Nigeria has emerged as the global leader in stablecoin adoption, boasting over 25.9 million users and an impressive penetration rate of 11.9%. This rapid growth is largely attributed to the increasing demand for USD-pegged assets, seamless cross-border payments, and advancements in regulatory frameworks. The Securities and Exchange Commission of Nigeria has officially recognized digital assets as securities under the newly amended Investments and Securities Act 2025, while updated guidelines by the Central Bank of Nigeria are supporting the integration of cryptocurrency firms into the financial ecosystem.
In this evolving landscape, CSI is focusing on creating a cutting-edge stablecoin framework that meets the regulatory and practical needs of banks, fintech companies, and retail users. The cNGN stablecoin, issued by Wrapped CBDC Limited—a joint venture comprising several leading African blockchain infrastructure firms—aims to facilitate secure and scalable digital payments within Nigeria and beyond.
As of mid-September 2025, approximately 602.9 million cNGN tokens were in circulation, reflecting a strong early adoption phase. The stablecoin has already facilitated over 75,000 on-chain transactions, generating a cumulative trading volume exceeding 20.1 billion cNGN, highlighting its growing significance in Nigeria’s regulated digital asset market.
Andrew Forson, President of DeFi Technologies, emphasized the transformative potential of stablecoins in modern financial systems. He stated, “Locally regulated, purpose-built stablecoins like cNGN will unlock scalable, real-world use cases in payments, savings, and commerce. We’re excited to support that future across Africa and beyond.”
This investment is part of DeFi Technologies’ broader strategy to promote compliant digital asset infrastructure globally, from European operations through its Valour ETP platform to offering digital asset treasury solutions for public companies. The firm aims to enable the adoption of regulated stablecoins as foundational components for advanced financial services, including local payment systems and cross-border settlements.
Through partnerships with innovative firms like Continental Stablecoin Inc. and Convexity Technologies, DeFi Technologies is positioning itself to drive compliance and infrastructure innovation that can create long-term value in both emerging and developed markets.
