Stablecoin News: Nigeria Forms Working Group to Study Stablecoin Adoption
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Nigeria is studying stablecoin adoption to balance financial innovation and emerging digital currency risks. Nigeria has established a key working group now. This group will explore stablecoin adoption actively. This is one step of current developments in the financial sector. Further, there is an aim to do the best to support innovation. Therefore, the country is on the path of balancing the new technology risks at present. The central bank revealed this during international meetings at this time. Central Bank and Finance Ministry Team Up on Regulatory Framework Now, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has affirmed the development. He gave his remarks at a joint press conference today. This was done in Washington, DC, at the annual World Bank and IMF meetings. Also, the working group is a collaborative effort. It comprises the Ministry of Finance, CBN, and other institutions at present. Related Reading: SEC Nigeria Teams Up With Chainalysis to Tackle Rising Crypto Scams | Live Bitcoin News Specifically, these bodies will now go much deeper. They will, however, analyse the wider consequences of the adoption of stablecoins at present. Thirdly, one should make a successful effort to create a viable regulatory framework. As a result, it is now finally obvious on the consensus. Hence, nobody wants to prevent technological innovation at this point. However, this has to be weighed up now against emerging risks. Indeed, the stablecoin conversation was a consistent topic these days. This is through the international meetings we have now. And so, global cooperation is crucial for regulatory success today. The working group has just been formed, so this formal process is just beginning. Hence, Nigeria is actively working with digital finance at the moment. Add to that, Cardoso said the macroeconomic developments are positive at this moment. Specifically,…
Filed under: News - @ October 19, 2025 12:22 pm