The Central Bank of Nigeria (CBN) introduced a new regulatory framework for stablecoins and virtual assets on November 5, 2026. It requires stablecoin issuers to have significant capital reserves—N10 billion for naira-pegged tokens and N15 billion for foreign currency-pegged tokens—and bans algorithmic stablecoins that rely on code rather than cash reserves. The framework also mandates that foreign-currency stablecoins can only be offered through locally licensed entities, and existing operators must register within 30 days and apply for licenses within 180 days. This move aims to balance innovation with consumer protection and financial stability in Nigeria's digital asset market.
Nigeria's central bank's new stablecoin regulations provide context for digital assets, where on Pluang as of Nov 06, 2026 17:02 WIB, only 5 of 50 major cryptocurrencies rose while 44 fell. Among these, Stellar (XLM) traded at Rp2.796 with a 1-day change of -8.00% and a typical hold time of 85 days, contrasting with Ethereum (ETH) at Rp40.430.095, down 7.90%, held typically for 108 days, and Uniswap (UNI) at Rp127.036, down 7.78% with a 65-day hold time. Pluang order activity showed more selling pressure on ETH and UNI compared to a more balanced sell/buy split on XLM.
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