In a strategic move to bolster the development of local currency stablecoins, DeFi Technologies has announced an investment in Continental Stablecoin Inc. (CSI) through a Simple Agreement for Future Equity (SAFE). This investment aims to accelerate the advancement of regulated stablecoin frameworks in Africa, specifically highlighting the cNGN stablecoin, Nigeria’s first regulated stablecoin. The initiative features collaboration with prominent partners such as Coinbase Ventures and Adaverse, among other leaders in the stablecoin sector.
Nigeria has emerged as a leading force in global stablecoin adoption, boasting approximately 25.9 million users and an 11.9% market penetration rate. This remarkable growth is fueled by a rising demand for USD-pegged assets, increased cross-border payment demands, and progressive regulatory developments. Recent advancements include the Nigerian Securities and Exchange Commission’s formal recognition of digital assets as securities and the Central Bank of Nigeria’s updated guidelines for cryptocurrency firms, reflecting a shift toward the integration of digital finance into traditional banking systems.
CSI is positioned to fulfill the needs of this evolving regulatory landscape by developing a next-generation stablecoin framework that adheres to local compliance standards while meeting the practical requirements of banks, fintech companies, and retail users. The cNGN stablecoin, issued by Wrapped CBDC Limited—part of a joint venture among several leading blockchain firms—aims to facilitate secure and efficient digital payments across Nigeria and the broader African continent.
As of mid-September 2025, around 602.9 million cNGN tokens are in circulation, demonstrating substantial early adoption with over 75,000 on-chain transactions and a cumulative trading volume exceeding 20.1 billion cNGN. This active network highlights cNGN’s relevance and effectiveness within Nigeria’s regulated digital asset ecosystem.
Andrew Forson, President of DeFi Technologies, expressed confidence in the potential of stablecoins, stating they “will form the backbone of modern financial systems.” Forson emphasized the importance of purpose-built stablecoins like cNGN as enablers of scalable real-world applications in payment systems, savings, and commerce.
DeFi Technologies’ investment strategy overlaps with its broader goal of promoting compliant digital asset frameworks worldwide. The company’s initiatives span various territories, from establishing infrastructure in Europe to creating treasury solutions for public companies. By investing in CSI, DeFi Technologies aims to further solidify its position at the convergence of compliance, infrastructure, and innovation in the emerging digital asset landscape.
As digital finance continues to evolve in regions such as Africa, DeFi Technologies’ partnership with innovative firms like Continental Stablecoin Inc. highlights its commitment to facilitating a compliant and revolutionary financial ecosystem.
