Nigeria: Demand for stablecoins fuels new wave of dollarisation

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The rise in popularity of digital tokens threatens the role of the central bank in Nigeria, with many young people exploring the advantages of dollar-backed options.

The rise in popularity of digital tokens threatens the role of the central bank in Nigeria, with many young people exploring the advantages of dollar-backed options.

In Nigeria, the use of stablecoins – cryptocurrency pegged to fiat currency – is creating a split between those who trust centralised, traditional banking methods and the tech-savvy, drawn in by the decentralised ledger technology .Zimbabwe: Ariana plans stock market fund raise for Dokwe gold projectToday was the final deadline for banks to submit their recapitalisation plans to Nigeria’s Central Bank. Will Nigeria see a repeat of the ‘big bang’ o...

 

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