The Africa Stablecoin Consortium (ASC), comprising Nigerian banks and fintech startups, has decided to postpone the launch of its stablecoin, cNGN, originally scheduled for February 27. Contrary to a previous announcement claiming Central Bank of Nigeria (CBN) approval, the ASC now aims to engage with regulatory bodies, including the CBN, to participate in the regulatory sandbox program. The consortium emphasized its commitment to regulatory compliance and transparency, stating that the stablecoin launch will proceed only after obtaining necessary approvals. (Source: News.bitcoin)
Related
Japan Prepares for Bitcoin ETFs with SBI and Franklin Templeton Partnership
SFC Alerts Public to Unlicensed Virtual Asset Trading Platform CoinUnited.io
Quantum Updates 5 | July 2024
Revolut Secures UK Banking License, Poised to Expand Services
Bank of Ghana and Monetary Authority of Singapore Successfully Demonstrate E-Cedi in Cross-Border Transactions