Core Insights - DeFi Technologies Inc. has made a strategic investment in Continental Stablecoin Inc. to support the development of local-currency stablecoins in Africa, particularly Nigeria's cNGN stablecoin [1][8][9] - Nigeria leads globally in stablecoin adoption with over 25.9 million users and an 11.9% penetration rate, driven by demand for USD-pegged assets and regulatory advancements [3][8] - The investment aligns with DeFi Technologies' strategy to enable compliant digital asset adoption globally, focusing on trusted stablecoin frameworks that meet the needs of banks, fintechs, and retail users [4][9][10] Investment Overview - The investment in CSI was made through a Simple Agreement for Future Equity (SAFE) alongside other industry leaders like Coinbase Ventures and Adaverse [9][8] - The cNGN stablecoin has approximately 602.9 million tokens in circulation and has processed over 75,000 on-chain transactions, indicating strong early traction [6][9] - DeFi Technologies believes that regulated stablecoins will form the foundational layer for next-generation financial services, enhancing local payment systems and cross-border settlements [9][7] Market Context - Stablecoins are recognized as a significant growth vector in the digital asset ecosystem, particularly in emerging markets where financial access and currency volatility are critical issues [2] - The regulatory landscape in Nigeria is evolving, with the Securities and Exchange Commission recognizing digital assets as securities, which supports the growth of stablecoin infrastructure [3][4] - The cNGN stablecoin aims to provide secure, transparent, and scalable digital payments across Nigeria and beyond, reinforcing Nigeria's leadership in digital finance [5][4]
DeFi Technologies Invests in Continental Stablecoin Inc., Backers of cNGN, to Accelerate Regulated Stablecoin Adoption Across Africa