Roqqu, a Nigerian crypto exchange, has become the latest platform to list the compliant Naira (cNGN)—Nigeria’s first SEC-approved stablecoin, pegged 1:1 to the naira. The listing puts Roqqu alongside other platforms like Busha, Quidax, Xend Finance, Blockradar, and Boundlesspay, which already support the token.
Launched in February by the Africa Stablecoin Consortium (ASC), cNGN now has ₦604 million (approx. $395,000) in circulation. It is minted on six blockchains—including Asset Chain, Base, Bantu, Polygon, Ethereum, and Binance Smart Chain—to improve accessibility and lower transaction fees.
Though Roqqu is still awaiting its provisional crypto license from the Securities and Exchange Commission (SEC), its listing of cNGN signals growing confidence in the token's future. Roqqu states it now serves 1.8 million users, and this move aims to bring the stablecoin to everyday users with grassroots reach. CEO Emmanuel Peter emphasized, *“A currency is not a thing if it’s not embraced by the people [...] this could be what the cNGN token has been missing—wider distribution.”*
To spur adoption, Roqqu will waive fees on cNGN-to-cNGN transactions, though it will earn fees from fiat-to-cNGN conversions. The token has already been integrated with Base, one of its supporting networks.
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