Nigeria’s Central Bank Forms Task Force to Evaluate Official Stablecoin
The Central Bank of Nigeria has initiated a task force to review the potential introduction of an official stablecoin amid questions over the future of eNaira.
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Terms & Concepts
Stablecoin: A cryptocurrency pegged to a stable asset, such as a fiat currency, to reduce price volatility.
eNaira: Nigeria’s official central bank digital currency (CBDC), launched to facilitate digital payments and financial inclusion.
Central Bank Digital Currency (CBDC): A digital form of a nation's fiat currency issued and regulated by its central bank.