CBN sets N15bn capital requirement for dollar stablecoin issuers

AI Summary

The Central Bank of Nigeria has set a minimum paid-up capital requirement of 15 billion naira for issuers of foreign currency-backed stablecoins. The rule applies to companies issuing tokens pegged to currencies such as the US dollar.

The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar. Read More: https://punchng.com/cbn-sets-n15bn-capital-requirement-for-dollar-stablecoin-issuers/