DeFi Technologies Inc., a financial technology firm aiming to bridge traditional capital markets and decentralized finance, has announced a significant investment in Continental Stablecoin Inc. (CSI). This partnership is set to enhance the development and advocacy of local-currency stablecoins in Africa, particularly focusing on the development of Nigeria’s regulated stablecoin infrastructure.
Stablecoins, which are blockchain-based representations of fiat currency designed for programmability and global transactions, have emerged as pivotal elements in the evolving digital asset ecosystem. They are particularly impactful in emerging markets characterized by financial access challenges and currency volatility. The rapid evolution of stablecoins is transforming global payment systems, treasury operations, and remittance flows, thus shaping the future of finance.
Currently, Nigeria leads the world in stablecoin adoption, ranking first globally with over 25.9 million users and an 11.9% penetration rate, according to the 2025 Report on the State of Digital Assets Regulation in Africa. This surge has stemmed from a growing need among individuals and businesses to protect against swings in the naira’s value, seek stability in USD-pegged assets, and expedite cross-border transactions. Concurrently, Nigeria’s regulatory environment is evolving, with the Securities and Exchange Commission of Nigeria classifying digital and tokenized assets as securities under its revised Investments and Securities Act 2025. Furthermore, the Central Bank of Nigeria has introduced updated guidelines for banking relationships with cryptocurrency firms, moving toward formal integration of these platforms.
CSI aims to construct a next-generation stablecoin framework tailored to these shifts in regulatory focus. The company seeks to align its offerings with the practical requirements of banks, financial technology firms, and everyday users, reinforcing Nigeria’s position as a frontrunner in the digital finance space.
At the core of this initiative is the cNGN stablecoin, issued by Wrapped CBDC Limited—a collaboration among some of Africa’s premier blockchain infrastructure and solution development companies. The cNGN stablecoin aims to facilitate secure, scalable, and transparent digital payment systems across Nigeria and potentially other regions.
As of mid-September 2025, approximately 602.9 million cNGN tokens were in circulation, indicating robust adoption. The stablecoin has successfully processed over 75,000 on-chain transactions, culminating in a cumulative trading volume exceeding 20.1 billion cNGN, with around 164.4 million in 24-hour volume, highlighting its progress as a cornerstone of Nigeria’s regulated digital asset environment. These notable achievements suggest that cNGN is more than a theoretical concept; it represents an actively growing network that is gaining real-world traction.
Andrew Forson, President of DeFi Technologies, emphasized the transformative potential of stablecoins, stating, “Stablecoins will form the backbone of modern financial systems.” He expressed confidence that locally regulated stablecoins like cNGN could unlock scalable solutions in payments, savings, and commerce across Africa and beyond.
This investment aligns with DeFi Technologies’ broader goal of promoting compliant digital asset adoption globally. The firm’s infrastructure projects in Europe, exemplified by its Valour ETP platform, alongside its digital asset treasury solutions for public companies via DeFi Advisory, highlight its ongoing commitment to supporting critical elements of the Web3 financial stack.
DeFi Technologies has engaged in this investment through a Simple Agreement for Future Equity, joining forces with Coinbase Ventures, Adaverse, and other industry leaders. This collaboration reaffirms the belief that regulated stablecoins will become the foundational layers for next-generation financial services, supporting everything from local payment systems to cross-border settlements and decentralized capital markets.
By partnering with innovators like CSI and Convexity Technologies, DeFi Technologies is well-positioned at the convergence of compliance, infrastructure, and innovation, aiming to unlock enduring value in both emerging and established markets.
