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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.

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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.


Join a new world of possibilities enabled by Africa Stablecoin Consortium


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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