CBN introduces N15bn capital requirement for dollar-backed crypto operators in Nigeria
The Central Bank of Nigeria, CBN, has introduced a minimum capital requirement of N15 billion for companies seeking to issue foreign currency-backed stablecoins, including digital currencies such as USDT and USDC, as part of efforts to regulate Nigeria's growing virtual asset market. The apex bank disclosed this in its new 169-page Regulations for the Operations […] CBN introduces N15bn capital…
The Central Bank of Nigeria (CBN) has announced a mandatory minimum capital requirement of N15 billion for companies intending to issue dollar-backed stablecoins in Nigeria. This new regulation is part of a comprehensive, risk-based framework designed to promote responsible innovation in Nigeria's digital payment ecosystem while strengthening financial system integrity and protecting customers.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.