DeFi Technologies Stakes Claim in Africa’s Stablecoin Boom

DeFi Technologies Inc. (Nasdaq: DEFT) has made a strategic move into African fintech by investing in Continental Stablecoin Inc. (CSI), the team behind Nigeria’s regulated cNGN stablecoin. The investment aligns with DeFi’s mission to bridge traditional finance and decentralized systems, while capitalizing on the continent’s surging digital asset adoption.

Stablecoins—programmable, blockchain-native representations of fiat—are reshaping payment rails, treasury operations, and remittance flows globally. Nowhere is this more evident than in Nigeria, where over 25.9 million users engage with digital assets, making it the top country for stablecoin adoption and second overall in digital asset usage. Local adoption is fueled by businesses and individuals hedging against naira volatility and embracing USD-pegged assets for cross-border payments.

Nigeria’s regulatory environment has also matured rapidly. The Securities and Exchange Commission now recognizes digital and tokenized assets as securities under the 2025 Investments and Securities Act, while the Central Bank of Nigeria has updated its banking guidelines for crypto firms, signaling formal integration into the financial system.

cNGN: A Stablecoin Built for Compliance and Scale

CSI’s cNGN stablecoin is designed to meet this evolving landscape. Issued by Wrapped CBDC Limited—a joint venture including Convexity, AlphaGeeks, and Interstellar—cNGN targets secure, transparent, and scalable digital payments across Nigeria and beyond.

The numbers speak for themselves: ~602.9 million cNGN tokens are in circulation, over 75,000 on-chain transactions have been processed, and cumulative trading volume has surpassed 20.1 billion cNGN. Daily transaction volumes also hit ~164.4 million cNGN as of mid-September 2025, underscoring its real-world adoption rather than just speculative interest.

“Stablecoins will form the backbone of modern financial systems,” said Andrew Forson, President of DeFi Technologies. “We believe that locally regulated, purpose-built stablecoins like cNGN will unlock scalable, real-world use cases in payments, savings, and commerce — and we’re excited to support that future across Africa and beyond.”

Strategic Implications for the FinTech Sector

DeFi Technologies’ investment complements its global digital asset strategy. Beyond Africa, the company supports infrastructure in Europe through its Valour ETP platform and provides digital asset treasury solutions for public companies via DeFi Advisory.

This funding round, structured as a Simple Agreement for Future Equity (SAFE), also includes investors such as Coinbase Ventures and Adaverse, reinforcing industry confidence in CSI’s potential. By backing compliant stablecoins, DeFi Technologies positions itself at the crossroads of regulatory compliance, fintech innovation, and blockchain infrastructure, aiming to unlock value in both emerging and mature markets.

As Africa cements itself as a hotbed for digital finance, investments like this highlight the rising importance of regulated stablecoins as the backbone of next-generation payment systems and decentralized financial services. For investors and tech strategists, cNGN represents a case study in blending compliance with adoption—a trend likely to influence similar markets worldwide.