DeFi Technologies Invests in Continental Stablecoin Inc. to Boost Stablecoin Adoption in Africa

DeFi Technologies Paves the Way for Regulated Stablecoins in Africa

In a strategic move aimed at enhancing the financial landscape across Africa, DeFi Technologies Inc. has officially announced its investment in Continental Stablecoin Inc. (CSI), the driving force behind the innovative cNGN stablecoin. This partnership, which leverages a Simple Agreement for Future Equity (SAFE), marks a significant step forward in the development of regulated local currency stablecoins on the continent, notably in Nigeria, where the demand for stable financial instruments has skyrocketed.

With Nigeria leading the global race for stablecoin adoption, boasting over 25.9 million users and an impressive 11.9% penetration rate, the country is setting the standard for digital currency utilization. This surge can be attributed to various factors, including a growing need for USD-pegged assets, the facilitation of cross-border payments, and ongoing improvements in regulatory frameworks. Nigeria’s proactive stance, highlighted by the Securities and Exchange Commission's acknowledgement of digital assets as securities under the amended Investments and Securities Act 2025, has paved the way for increased legitimacy and trust in cryptocurrency frameworks.

DeFi Technologies recognizes the importance of establishing a solid digital infrastructure that prioritizes compliance and user-friendly services. The cNGN stablecoin is crucial in this ecosystem, offering a groundbreaking framework designed with regulatory standards in mind, thus ensuring the needs of banks, fintech companies, and retail users are adequately met. The fact that the cNGN is developed by a reputable consortium, including leading African blockchain companies like Wrapped CBDC Limited, shows its potential in transforming the digital payment landscape in Nigeria and beyond.

As of mid-September, the cNGN stablecoin has already reached a remarkable milestone with approximately 602.9 million tokens in circulation, accompanied by over 75,000 on-chain transactions and a staggering cumulative trading volume exceeding 20.1 billion cNGN. Such figures underline the brisk acceptance and practical utility of the cNGN within the Nigerian market, making DeFi Technologies’ investment not only timely but strategically significant for the future of digital assets in Africa.

Andrew Forson, President of DeFi Technologies, emphasized the transformative potential of stablecoins, stating, "Stablecoins will form the backbone of modern financial systems. We believe that locally regulated, purpose-built stablecoins like cNGN will unlock scalable, real-world use cases in payments, savings, and commerce."

This partnership aligns seamlessly with DeFi Technologies' broader vision, which aims to foster compliant digital asset adoption globally. By supporting local markets in emerging economies through initiatives like this investment in CSI, the company is carving out a niche that bridges traditional financial systems with decentralized finance (DeFi). With its commitment to leading in digital asset management, DeFi Technologies continues to build essential infrastructures that support the evolution of financial services worldwide.

As the momentum towards significant enhancements in the digital asset sector accelerates, DeFi Technologies, in collaboration with partners like CSI and Convexity Technologies, is positioned at the forefront of this evolution. By focusing on compliance, innovative infrastructure, and regulatory adaptability, DeFi Technologies not only drives the growth of cNGN but also contributes to the overarching goal of creating a sustainable digital economy across continents.

In conclusion, the investment in Continental Stablecoin Inc. is a pivotal advancement that aligns with DeFi Technologies’ ethos of supporting the establishment of a reliable and regulated financial infrastructure. As Africa continues to embrace innovative financial solutions, the implications of such investments will undoubtedly shape the region’s economic landscape for years to come.