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Deployments · platform by Wrapped CBDC

cNGN naira stablecoinNew

A naira stablecoin issued by Wrapped CBDC, a Nigerian company set up by Convexity and other members of the Africa Stablecoin Consortium, under an approval in principle from the Nigerian SEC's regulatory incubation programme. It was first listed on the Busha exchange on 3 February 2025. Tokens are only minted once naira reaches the issuer's bank account; reserves are bank deposits plus treasury bills and a CardinalStone money market fund. It is deployed on Base, BNB Chain, Celo, Solana, Ethereum, Polygon and several smaller chains, with about NGN 3.7bn on-chain in October 2026, most of it on Base and BNB Chain.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 3 Feb 2025[2] — Live under the SEC sandbox (approval in principle, not a full licence); small supply, under USD 3m. · Reviewed 21d ago

Assets
Stablecoin[1]
Naira-backed stablecoin
Networks
Base Public, permissionless[1]
BNB Chain Public, permissionless[1]
Celo Public, permissionless[1]
Solana Public, permissionless[1]
Ethereum Public, permissionless[1]
Polygon Public, permissionless[1]
Use cases
Primary issuance[3]Payments[3]
Jurisdictions
Nigeria

Participants

Assets

Metrics

  • ~1,000,000,000 NGNTokens issued since launch · as of Dec 2025[3]
    1 billion tokens issued in the first 11 months, per the issuer.
  • 2,217,127,358 NGNTokens in circulation · as of 18 Oct 2026 · on Base[5]
    totalSupply() via public RPC.
  • 1,232,979,198 NGNTokens in circulation · as of 18 Oct 2026 · on BNB Chain[6]
    totalSupply() via public RPC.
  • 131,667,588 NGNTokens in circulation · as of 18 Oct 2026 · on Celo[7]
    totalSupply() via public RPC.
  • 101,749,984 NGNTokens in circulation · as of 18 Oct 2026 · on Solana[8]
    getTokenSupply via public RPC.
  • 137,326 NGNTokens in circulation · as of 18 Oct 2026 · on Ethereum[1]
    totalSupply() via public RPC on the README's Ethereum contract.
  • 13,822 NGNTokens in circulation · as of 18 Oct 2026 · on Polygon[1]
    totalSupply() via public RPC on the README's Polygon contract.
  • 64,839,240 NGNTokens in circulation, other chains · as of 18 Oct 2026context[1]
    Asset Chain 64.83m and Lisk 5,023 via public RPCs; Bantu not checked. Not tracked as networks here.
  • ~3,515,244 NGNSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[9]
    Automated daily reading.
  • ~2,221,784,429 NGNSupply on chain (daily) · as of 7 Nov 2026 · on Base[9]
    Automated daily reading.
  • ~2,119,430,996 NGNSupply on chain (daily) · as of 7 Nov 2026 · on BNB Chain[9]
    Automated daily reading.
  • ~18,386 NGNSupply on chain (daily) · as of 7 Nov 2026 · on Polygon[9]
    Automated daily reading.
  • ~101,749,984 NGNSupply on chain (daily) · as of 7 Nov 2026 · on Solana[9]
    Automated daily reading.

Timeline

  1. Happened 3 Jul 2026 · Regulatory approval · recorded 18 Oct 2026
    The SEC admits Wrapped CBDC among seven digital-asset firms to its Accelerated Regulatory Incubation Programme, again as an approval in principle rather than a licence.[4]
  2. Happened 3 Feb 2025 · Launch · recorded 18 Oct 2026
    cNGN is listed on the Busha exchange, its first public availability; transfers initially work on BNB Chain and Base.[2]
  3. Happened Aug 2024 (month only) · Regulatory approval · recorded 18 Oct 2026
    The Nigerian SEC grants Wrapped CBDC an approval in principle under its Regulatory Incubation sandbox for the cNGN project.[2]

Sources

  1. [1]wrappedcbdc/stablecoin-cngn: Unlocking Africa's Largest Digital Assets Economy — Wrapped CBDC. Accessed 18 Oct 2026. Issuer's repository; README lists mainnet contracts on Bantu, Asset Chain, Base, BNB Chain, Ethereum, Polygon, Lisk, Solana and Celo..B
  2. [2]Nigerian crypto startup Busha lists cNGN, a consortium-led Naira stablecoin, plans rollout in phases — TechCabal, 8 Feb 2025. Accessed 18 Oct 2026.C
  3. [3]Inside WrappedCBDC’s plan to turn the naira into a high-speed digital rail — TechCabal, 12 Dec 2025. Accessed 18 Oct 2026. Quotes WrappedCBDC's managing director; reserve split (54% deposits, 46% T-bills and CardinalStone money market fund, Oct 2025) from the issuer's audit filing as reported..C
  4. [4]“Approval-In-Principle Not Full Licence” — SEC Admits Seven Digital Asset Firms Into Regulatory Incubation Programme — TheNigeriaLawyer, 4 Jul 2026. Accessed 18 Oct 2026. Reports an SEC website notice of the previous Friday (3 Jul 2026); the notice itself was not opened..C
  5. [5]ERC-20 Token | Address: 0x46C85152...F9B10EF5F | BaseScan — BaseScan. Accessed 18 Oct 2026. Figure from eth_call totalSupply() via the public Base RPC on 18 Oct 2026..A
  6. [6]cNGN token (BNB Chain) — BscScan. Accessed 18 Oct 2026. Page behind a bot check; figure from eth_call totalSupply() via the public BNB Chain RPC on 18 Oct 2026..A
  7. [7]cNGN token (Celo) — Celoscan. Accessed 18 Oct 2026. Page behind a bot check; figure from eth_call totalSupply() via the public Celo RPC on 18 Oct 2026..A
  8. [8]Token 3jiqwBQVRC5zRwHyqvnkQurebJ5RNxg3F5fXMwaxgkv8 | Solscan — Solscan. Accessed 18 Oct 2026. Figure from getTokenSupply on the public Solana RPC on 18 Oct 2026..A
  9. [9]Supply by chain, read daily — On-chain (public RPC, automated daily refresh). Accessed 7 Nov 2026.A

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