Why cNGN Stablecoin
Experience the future of digital transactions with cNGN. Built on cutting-edge blockchain technology, cNGN offers a seamless, cost-effective, and adaptable solution for global finance. It's more than just a virtual asset it's a gateway to faster, more affordable, and flexible financial operations worldwide.
Redefining Financial Boundaries
cNGN: Bridging local and global finance with ease and security.
Trust in Every Transaction
Stability and Security
Safeguard your assets with cNGN, where traditional financial stability meets the security of modern technology, seamlessly bridging the digital currency space.
Finance Without Borders
Global Access & Seamless Exchange
Effortlessly swap your Naira 1 to 1 with cNGN and access global markets, simplifying worldwide financial transactions.
Fast Transactions
24/7 Near-Instant Settlement
In a blink of an eye, experience lightning-fast transactions with cNGN, ensuring efficient and rapid processing and near-instant settlement.
Clear, Trackable Finance
Transparency and Auditability
Embrace transparent finance with cNGN. Gain complete visibility of every transaction ensuring clarity, accountability, and trust in your financial activities.
Affordable Finance for All
Cost-Effectiveness
Minimise transaction costs with cNGN for your local payments to international transfers fostering greater financial access and inclusion
Broadening Financial Access
Universal Connectivity & Flexibility
Integrate, Access and Move cNGN on multiple blockchains and financial systems with ASC’s Stablecoin’s Infrastructure’s cross-chain ability, uniting web3 communities and traditional finance.
Unlocking Boundless Opportunities
We open up a world of possibilities by converting your fiat into a cNGN equivalent, leveraging the best of blockchain's open technology.
Exchanges
Banks
Businesses
Developers
Individuals
Establish your Fiat Naira account and MPC-enabled wallet through the ASC Stablecoin Platform. Effortlessly mint, distribute, and redeem cNGN 1:1 across multiple rails instantly and automatically, with zero minting fees.
Empower your exchange with cNGN for swift and reliable cross-stablecoin transfers, enhancing global reach with local speed.
Innovate with Regulatory Certainty and Connectivity
Partner with ASC to get your cNGN Stablecoins. Join us and shape a future where innovation meets responsibility and trust.
Your Gateway to Nigeria's Compliant Digital Asset Ecosystem
cNGN, championed by (ASC) Africa Stablecoin Consortium, fosters the expansion of fintechs, liquidity providers, and virtual asset entities in Nigeria's digital economy. It offers digital banking and Web3 services, leveraging ASC's comprehensive stablecoin infrastructure. This initiative is bolstered by regulatory approval under the CBN's Regulatory Sandbox, significantly contributing to the growth of Nigeria's digital asset ecosystem.
To learn more, stay ahead with ASC Insights
2023-11-04
Empowering Africa: The Significance of Stablecoins Denominated in African Currencies
Africa is making its mark, as the continent's potential for digital innovation becomes increasingly evident. However, to truly unlock the potential of cryptocurrencies in Africa, there's a need for stability, accessibility, and trust.
FAQs: Got Questions?
We've Got Answers!
Welcome to our FAQs! Here, you'll find straightforward answers to common questions about cNGN and our digital finance services. If you need more details or have other queries, our team is just a message away. We're committed to guiding you through your digital finance journey with clarity and ease.
What are cNGN tokens?
cNGN tokens are assets that move across the blockchain just as easily as other digital currencies and they also offer price stability as they are pegged on a 1-to-1 basis with Nigerian Naira (i.e, 1 cNGN = 1 NGN) and are backed 100% by ASC's reserves.
Is cNGN a digital currency?
The cNGN is a digital token on open permissionless blockchain protocols, unlike other digital assets that fluctuate, it is designed to maintain a stable value. The cNGN token has democratized cross-border transactions across the blockchain and countries and is pegged to the naira on a 1-to-1 basis.
How is cNGN different from other stable coins?
cNGN is relatively similar to other stablecoins like USDC, USDT, EURC & others, which are pegged to Goverment issued fiat currencies
What is the value proposition of cNGN?
The value proposition of cNGN is to bridge the gap between fiat and digital currencies, by offering a stable and compliant digital currency that is fast, secure, transparent, and borderless. cNGN is created and managed by the Africa Stablecoin Consortium, a group of licensed financial institutions, technology companies, and partner commercial banks. cNGN can be used for various transactions on the blockchain, such as sending or receiving payments, exchanging for other digital assets/cryptocurrencies or fiat currencies, etc. cNGN is compliant with the regulatory requirements and standards set by the CBN, the Securities and Exchange Commission (SEC), the Nigerian Financial Intelligence Unit (NFIU), and engages with them to ensure compliance, consumer protection, and transparency.
Is cNGN subject to volatility like other cryptocurrencies?
No, it is not volatile like other cryptocurrencies. All cNGN tokens are backed 1:1 with Nigerian Naira. 1 cNGN will always be redeemable for 1 NGN (Nigerian Naira)
How is the value of cNGN maintained? Explain the mechanism or backing that ensures the stability of cNGN
All cNGN in circulation is fully backed 1:1 with Nigerian Naira cNGN tokens are created when a user makes a Naira deposit to Africa Stablecoin Consortium reserve bank accounts held in partner Commercial banks. As a fully transparent company, we publish a daily record of the current total assets and reserves.
The Africa Stablecoin Consortium (ASC) brings together top financial institutions, fintech innovators, and blockchain experts, aiming to transform Africa's financial landscape through secure & compliant virtual assets. ASC is at the forefront of revolutionizing how people & institutions engage with money.
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