-
BTC 65,357.94 (-0.91%) -
ARS 1,091.70 (+0.50%) -
ETH 2,948.31 (-2.14%) -
SOL 160.87 (+0.12%) -
PEPE <0.01 (-4.20%) -
BOME 0.01 (-1.52%) -
DOGE 0.15 (-2.74%) -
WIF 2.80 (-6.17%) -
XRP 0.52 (-0.31%) -
RUNE 6.48 (+1.92%) -
PEOPLE 0.05 (-1.33%) -
FTM 0.80 (+5.62%) -
NEAR 8.00 (-2.72%) -
FLOKI <0.01 (-2.25%) -
LINK 15.86 (+14.14%) -
ENA 0.69 (-5.34%) -
BONK <0.01 (-3.93%) -
RNDR 10.00 (-6.20%) -
JTO 4.61 (+4.92%) -
AEVO 0.80 (+1.77%) -
WLD 4.86 (-2.35%) -
SUI 1.03 (+4.82%) -
SEI 0.56 (+6.52%) -
AVAX 34.51 (-0.95%) -
ORDI 36.78 (-5.01%) -
ADA 0.46 (+0.64%) -
STX 1.95 (-9.20%) -
ICP 12.15 (-2.30%)
Nigerias top banks collaborate on new cNGN stablecoin
Published: 2023-12-23
1. Collaboration between Nigeria's top banks for a new stablecoin (CNGN): Nigeria's leading banks have joined forces to develop a new stablecoin called CNGN. This collaboration aims to leverage blockchain technology and promote financial inclusion in the country. The stablecoin will be pegged to the Nigerian naira (NGN) and will provide a more stable and secure digital currency option for Nigerians. By partnering with multiple banks,the initiative aims to create a robust and widely accepted digital asset that can facilitate faster and cheaper transactions across the country. The collaboration also demonstrates a growing interest in cryptocurrencies and blockchain technology within the Nigerian banking sector.
2. Financial inclusion and accessibility: The development of CNGN highlights the importance of financial inclusion in Nigeria. By introducing a stablecoin tied to the local currency,the initiative aims to provide greater access to financial services for the unbanked population. As stablecoins are not subject to the same volatility as other cryptocurrencies,they can offer a more reliable medium of exchange,making it easier for individuals and businesses to participate in the digital economy. This move towards digital currencies aligns with Nigeria's efforts to enhance financial inclusion and encourage economic growth.
3. Advantages of stablecoins for the Nigerian economy: The introduction of CNGN could bring several benefits to the Nigerian economy. Firstly,it can reduce transaction costs,allowing for faster and cheaper cross-border payments. Additionally,as stablecoins are backed by fiat currencies,they provide a level of stability and reassurance to users,reducing the risk of currency devaluation. By leveraging blockchain technology,the new stablecoin can also enhance transparency and security in financial transactions. Furthermore,the collaboration between Nigeria's top banks signals a commitment to innovation and digital transformation within the banking sector,which can lead to increased efficiency and competitiveness. Overall,the development of CNGN represents a significant step towards the adoption of digital currencies in Nigeria.
Reference: cointelegraph.com
The most traded coin
(Update every 1 hour)
| at | from | is ($US) | turnover ($) |
|---|---|---|---|
| 1 | BTC |
65,357.94 | 1,918,786,359.13 |
| 2 | ARS |
1,091.70 | 1,397,028,453.80 |
| 3 | ETH |
2,948.31 | 792,707,506.54 |
| 4 | SOL |
160.87 | 618,258,692.91 |
| 5 | PEPE |
<0.01 | 399,069,239.35 |
| 6 | BOME |
0.01 | 285,802,046.13 |
| 7 | DOGE |
0.15 | 190,122,395.34 |
| 8 | WIF |
2.80 | 182,722,371.62 |
| 9 | XRP |
0.52 | 162,646,961.88 |
| 10 | RUNE |
6.48 | 150,774,142.82 |
| 11 | PEOPLE |
0.05 | 145,736,306.65 |
| 12 | FTM |
0.80 | 143,966,394.07 |
| 13 | NEAR |
8.00 | 131,222,574.45 |
| 14 | FLOKI |
<0.01 | 129,032,474.92 |
| 15 | LINK |
15.86 | 122,143,794.24 |
| 16 | ENA |
0.69 | 108,481,435.09 |
| 17 | BONK |
<0.01 | 98,663,641.36 |
| 18 | RNDR |
10.00 | 97,779,990.15 |
| 19 | JTO |
4.61 | 88,691,104.92 |
| 20 | AEVO |
0.80 | 76,306,488.85 |
| 21 | WLD |
4.86 | 72,988,675.13 |
| 22 | SUI |
1.03 | 64,648,593.11 |
| 23 | SEI |
0.56 | 53,542,690.18 |
| 24 | AVAX |
34.51 | 46,615,850.26 |
| 25 | ORDI |
36.78 | 42,282,687.59 |
| 26 | ADA |
0.46 | 41,564,859.14 |
| 27 | STX |
1.95 | 40,585,808.97 |
| 28 | ICP |
12.15 | 38,244,591.75 |
Coins with rapidly rising prices
(Update every 1 minute)
| at | from | is ($US) | more (%) |
|---|---|---|---|
| 1 | LINK |
15.86 | +14.14 |
| 2 |  BICO |
0.50 | +8.09 |
| 3 | SEI |
0.56 | +6.52 |
| 4 |  API3 |
2.52 | +6.46 |
| 5 |  LOOM |
0.09 | +6.30 |
| 6 | FTM |
0.80 | +5.62 |
| 7 |  VANRY |
0.19 | +5.00 |
| 8 | JTO |
4.61 | +4.92 |
| 9 |  IMX |
2.47 | +4.88 |
| 10 | SUI |
1.03 | +4.82 |
| 11 |  BEAMX |
0.03 | +4.34 |
| 12 | ![BinaryX [OLD] title=](https://titdoi.com/coins-images-mini/BNX-binaryx.webp){kind=small} BNX |
1.04 | +3.36 |
| 13 |  CFX |
0.22 | +3.16 |
| 14 |  PYR |
4.40 | +3.14 |
| 15 |  AR |
45.04 | +2.99 |
| 16 |  MTL |
1.89 | +2.89 |
| 17 |  ACH |
0.03 | +2.77 |
| 18 |  HBAR |
0.11 | +2.54 |
| 19 |  THETA |
2.17 | +2.16 |
| 20 |  TIA |
9.13 | +2.13 |
| 21 |  SC |
<0.01 | +2.11 |
| 22 |  ERN |
4.43 | +2.10 |
| 23 |  CITY |
3.28 | +1.96 |
| 24 |  PDA |
0.08 | +1.95 |
| 25 | ![Quickswap [OLD] title=](https://titdoi.com/coins-images-mini/QUICK-quick.webp){kind=small} QUICK |
0.06 | +1.94 |
| 26 | RUNE |
6.48 | +1.92 |
| 27 |  RSR |
<0.01 | +1.85 |
| 28 |  CELO |
0.82 | +1.80 |
| 29 | AEVO |
0.80 | +1.77 |
| 30 |  CHR |
0.34 | +1.53 |
The price of coins is falling rapidly.
(Update every 1 minute)
| at | from | is ($US) | reduce (%) |
|---|---|---|---|
| 1 | STX |
1.95 | -9.20 |
| 2 |  ETHFI |
3.26 | -7.34 |
| 3 |  PIXEL |
0.35 | -7.34 |
| 4 |  REZ |
0.11 | -7.21 |
| 5 |  VTHO |
<0.01 | -7.12 |
| 6 |  RPL |
19.50 | -6.52 |
| 7 |  QI |
0.02 | -6.23 |
| 8 | RNDR |
10.00 | -6.20 |
| 9 | WIF |
2.80 | -6.17 |
| 10 |  STRK |
1.10 | -6.15 |
| 11 |  DATA |
0.05 | -6.10 |
| 12 |  KP3R |
73.34 | -6.00 |
| 13 |  FIO |
0.03 | -5.87 |
| 14 |  BADGER |
4.10 | -5.86 |
| 15 |  PYTH |
0.42 | -5.59 |
| 16 |  FORTH |
3.89 | -5.58 |
| 17 |  NFP |
0.45 | -5.43 |
| 18 |  BLZ |
0.36 | -5.40 |
| 19 |  AXL |
1.00 | -5.40 |
| 20 |  CYBER |
7.36 | -5.39 |
| 21 | ENA |
0.69 | -5.34 |
| 22 |  SAGA |
2.15 | -5.24 |
| 23 |  SLP |
<0.01 | -5.15 |
| 24 |  ILV |
81.06 | -5.13 |
| 25 |  PORTAL |
0.76 | -5.01 |
| 26 | ORDI |
36.78 | -5.01 |
| 27 |  TROY |
<0.01 | -4.99 |
| 28 |  RIF |
0.16 | -4.96 |
| 29 |  VOXEL |
0.21 | -4.77 |
| 30 |  OSMO |
0.85 | -4.66 |
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| at | news | day | date | time |
|---|---|---|---|---|
| 1 | FOMC Member Bostic Speaks | Thursday | 16-05-2024 | 20:50 |
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| 3 | FOMC Member Waller Speaks | Friday | 17-05-2024 | 15:15 |
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| 5 | FOMC Member Kugler Speaks | Saturday | 18-05-2024 | 22:45 |
