Nigeria ‘ll play active role in shaping global stablecoin rules — Cardoso

The Central Bank of Nigeria (CBN) has reaffirmed its committedness to shaping planetary regulatory frameworks for stablecoins and different integer assets, emphasizing that innovation indispensable heighten fiscal stability.

Olayemi Cardoso, politician of the CBN, made this known successful Washington D.C. portion briefing journalists astatine the adjacent of the 2025 yearly meetings of the International Monetary Fund (IMF) and the World Bank Group.

Cardoso said discussions astatine the meetings highlighted the increasing value of fiscal exertion and integer assets successful planetary finance, including stablecoins.

“Building connected this tone of innovation and liable growth, a taxable that surfaced successful gathering aft gathering passim this week, is the rising prominence of stablecoins successful the planetary fiscal system,” helium said.

“Their imaginable to heighten payments inclusion and cross-border transactions is undeniable, yet they besides rise important questions astir monetary sovereignty, speech complaint stableness and fiscal integrity.”

He noted that the CBN would prosecute actively with planetary regulators to assistance specify wide and accordant planetary rules for integer assets, portion ensuring Nigeria’s economical interests are safeguarded.

“As planetary regulators enactment to specify wide and accordant frameworks, Nigeria intends to play an progressive relation successful shaping this conversation: ensuring that innovation supports, alternatively than undermines, fiscal stableness and economical sovereignty,” Cardoso said.

The apex slope politician stressed that Nigeria’s fintech assemblage remains a important spouse successful driving innovation and inclusion, but said innovation indispensable beryllium matched with integrity and dependable regulation.

“We are deepening partnerships with cardinal stakeholders driving innovation and investment, including holding a strategical league with Nigerian fintech leaders,” helium said.

Cardoso described fintech companies arsenic “ambassadors of Nigeria’s creativity, resilience and planetary relevance,” adding that person collaboration would assistance physique a much unafraid and inclusive integer fiscal system.

“Engaging them arsenic partners ensures that Nigeria’s integer fiscal aboriginal is built connected innovation, integrity and inclusion,” helium added.

The station Nigeria ‘ll play progressive relation successful shaping planetary stablecoin rules — Cardoso appeared archetypal connected Vanguard News.