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African Government is all set to launch a stablecoin pegged to 1:1 to Nigerian Naira. The stablecoin ABCD will be launched on Binance‘s native blockchain, the Binance Chain. Ghana-based cross-border money transfer startup Bit Sika & Linova Capital – crypto-focused investment firm will launch this stablecoin. Furthermore, 9 exchanges including Busha and Bitmama supports this Africa stablecoin.
ABCD’s mission is to leverage the liquidity of Naira and other flexible digital currencies. Moreover, this stablecoin will be the first of its kind as it is pegged by Naira and built on Binance Chain.