Nigeria’s central bank mandates licenses for stablecoin issuers

Nigeria’s central bank has mandated that stablecoin issuers obtain licenses, a move aimed at tightening regulatory compliance and consumer protection in the country’s digital currency market. The requirement applies to issuers of naira-pegged and other stablecoins operating in Africa’s largest crypto market. The policy matters because Nigeria has one of the highest crypto adoption rates globally, and stablecoins are widely used for remittances and hedging against naira volatility. The central bank’s framework could push unlicensed issuers out of the market or force them to partner with licensed institutions. What to watch next is how major stablecoin issuers and local exchanges respond, and whether the licensing regime attracts new entrants or drives activity to offshore platforms.