Finance Magnates· Tanya Chepkova·· 2 days agoSelectedAI score82
Nigeria requires dollar stablecoin issuers to establish local entities and maintain NGN15 billion in capital
Nigeria Erects Strict Stablecoin Wall, Demanding $11M Local Subsidiaries for US Dollar Tokens
AI brief
AI-assisted source summary · not independently verified. Content standards
New rules that have taken effect in Nigeria require overseas issuers offering USDT or USDC to retail users to establish a local company, obtain a Class 2 issuer licence and CBN approval for the tokens, and maintain at least NGN15 billion (approximately $11.1 million) in paid-up capital.
Why it matters
The article outlines Nigeria’s specific licensing and capital requirements for the issuance, redemption, and payment tiers of dollar stablecoins, making it easier to assess the market entry path for overseas service providers.
Source:Finance Magnates · financemagnates.com