Nigeria just dropped heavy regulations on stablecoins 🇳🇬
$11M capital requirement for foreign stablecoin issuers
$7.4M for naira-backed stablecoins
Algorithmic stablecoins? BANNED
This covers exchanges, custodians, wallets, payment processors - basically everyone in the game
Africa's largest crypto market is picking winners and losers. High barrier to entry = fewer players, more control
Smaller issuers getting filtered out. Only the big boys with deep pockets survive this
$11M capital requirement for foreign stablecoin issuers
$7.4M for naira-backed stablecoins
Algorithmic stablecoins? BANNED
This covers exchanges, custodians, wallets, payment processors - basically everyone in the game
Africa's largest crypto market is picking winners and losers. High barrier to entry = fewer players, more control
Smaller issuers getting filtered out. Only the big boys with deep pockets survive this