Wire · regulatory
Nigeria Sets $11.16 Million Capital Floor for Foreign-Currency Stablecoin Issuers
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Fusion42 · 8 November 2026 · Fusion42 review
The Central Bank of Nigeria has introduced a minimum capital requirement of approximately $11.16 million for issuers of foreign-currency stablecoins, along with strict verification and approval rules for platforms handling peer-to-peer trades. The regulation bans algorithmic stablecoins and sets separate criteria for different classes of virtual assets.
This Wire brief sits within Fusion42's coverage of Fintech, and 5 sources have reported it between 6 Nov 2026 and 8 Nov 2026.
◆ ◆ The Wire takeaway
You face a new financial barrier to issuing foreign-currency stablecoins in Nigeria that will demand higher upfront capital; adjusting your funding and compliance strategy now is essential to stay licensed. Platforms matching trades must upgrade identity checks or lose access, making KYC-compliance a critical priority this week.
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5 sources · first reported 6 Nov 2026 · latest 8 Nov 2026
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