DeFi Technologies has announced a strategic investment in Continental Stablecoin Inc. (CSI), aimed at bolstering the development of regulated local currency stablecoins across Africa, particularly Nigeria’s cNGN stablecoin. This investment, executed through a Simple Agreement for Future Equity (SAFE), sees DeFi Technologies collaborating with notable entities like Coinbase Ventures and Adaverse, among others, within the stablecoin industry.
Nigeria has emerged as a leader in global stablecoin adoption, boasting over 25.9 million users and an 11.9% market penetration rate. This growth is fueled by a rising demand for USD-pegged assets, the need for efficient cross-border payments, and significant regulatory advancements within the country. The evolving regulatory landscape is underscored by the Securities and Exchange Commission of Nigeria formally categorizing digital assets as securities under the amended Investments and Securities Act 2025, alongside the Central Bank of Nigeria’s progressive guidelines for cryptocurrency firms.
The cNGN stablecoin, developed by Wrapped CBDC Limited—a collaborative venture involving some of Africa’s foremost blockchain entities—aims to provide a secure, transparent, and scalable payment infrastructure in Nigeria and beyond. Currently, the cNGN stablecoin has approximately 602.9 million tokens in circulation and has facilitated over 75,000 on-chain transactions, reflecting strong initial traction and the growing demand for regulated digital asset solutions.
Andrew Forson, President of DeFi Technologies, emphasized the critical role stablecoins will play in modern financial systems, predicting that locally regulated options like cNGN will expand real-world applications in payments and commerce. This strategic investment aligns with DeFi Technologies’ broader mission to promote compliant digital asset frameworks globally, ensuring that infrastructure is established in both developed and emerging markets.
By partnering with innovators such as CSI and Convexity Technologies, DeFi Technologies solidifies its position at the convergence of compliance, infrastructure, and innovation, unlocking long-term value in the dynamic financial landscape. The company continues to seek opportunities that further bridge the gap between traditional capital markets and decentralized finance, underlining the significance of regulated, purpose-built stablecoins in shaping the future of global financial systems.
