Nigeria eyes unbanked to boost enaira as uptake languishes

While there are 270,000 active users of e-naira, as many as 33.4-million Nigerians have either owned or traded cryptocurrenciesNigerian central bank governor Godwin Emefiele. Picture: BLOOMBERG

“Just like the naira, the enaira is expected to be available to all Nigerians and will provide more possibilities to bring the unbanked into the digital economy,” Emefiele said during the finals of a central bank-sponsored hackathon to build products about the enaira. The adoption of stable coins such as USDT is on the rise in the West African nation, according to Paxful, a peer-to-peer exchange. The average monthly trade volumes increased tenfold to $25m in June 2022. Trade volumes for the first half of 2022 are nearly $400m compared with $760m for last year on Paxful alone.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Nigeria Seeks to Boost E-Naira Users 10-Fold as Cryptos GrowNigeria, which has attracted just 840,000 users for its digital currency since October, is seeking to boost adoption of the e-naira almost 10-fold in the next 12 months by luring people without bank accounts. Damn, why can't SA have digital currency. It would solve the cash-in-transit heists, and illegal immigrants issues we are facing.
Source: dailymaverick - 🏆 3. / 84 Read more »