Roqqu, one of Nigeria’s leading cryptocurrency companies, has officially listed the compliant Naira (cNGN) on its platform. The cNGN is a stablecoin, a type of digital currency that is pegged 1:1 to the value of a local currency, in this case, the Nigerian Naira. By listing the cNGN, Roqqu joins a growing group of prominent local crypto platforms that have integrated the token, including Busha, Quidax, Xend Finance, Blockradar, and Boundlesspay. This move marks a significant milestone for the cNGN, as it demonstrates increasing acceptance of the token among key operators in Nigeria’s crypto ecosystem.
The cNGN, which was launched in February by the WrappedCBDC team, has steadily been gaining traction. As of now, over ₦603 million (approximately $395,000) worth of the stablecoin is in circulation. To ensure accessibility and lower transaction costs, cNGN has been deployed across six different blockchains, Asset Chain, Base, Bantu, Polygon, Ethereum, and Binance Smart Chain. Despite this multi-chain strategy, however, retail adoption has remained relatively sluggish, with uptake still limited among everyday users.
For Roqqu, listing the cNGN marks both a strategic and symbolic move. The company is still awaiting its provisional cryptocurrency license from Nigeria’s Securities and Exchange Commission (SEC), but its decision to support the SEC-approved token underscores growing confidence in cNGN’s role within Nigeria’s digital finance ecosystem. Roqqu, which claims to serve 1.8 million registered users, believes that its entrenched grassroots presence positions it uniquely to accelerate the stablecoin’s adoption.
Emmanuel Peter, Roqqu’s Head of Academy and Business Partnerships, explained:
We know our way when it comes to the grassroots market. A currency only has real value when it is widely embraced by the people. That’s where Roqqu comes in, we know how to reach these communities. This could be the missing link for cNGN, true, widespread distribution.
In practical terms, Roqqu will generate revenue from fiat-to-cNGN exchange fees, but to encourage adoption, it plans to make cNGN transactions feeless, removing one of the biggest barriers for retail users. The company has already completed its integration with Base, one of the six supported networks, and will continue expanding across the others.
Roqqu’s strategy hinges on its reputation as a “last-mile” crypto service provider. Through campus tours, community-led blockchain awareness campaigns, and offline engagement in underserved towns and cities, the company has carved out a niche for making digital finance accessible at the grassroots level. Roqqu says this local penetration is precisely what is needed to put cNGN into the hands of everyday Nigerians.
The company is also eyeing regional expansion. In July, Roqqu finalized its acquisition of Flitaa, a Kenyan crypto startup, bringing over 70,000 additional users into its ecosystem. This acquisition creates the possibility of enabling cross-border transfers between Nigeria and Kenya using cNGN, positioning the stablecoin as a tool for cheaper and faster remittances in Africa.
Looking ahead, Roqqu has committed to working closely with the cNGN team on a joint marketing and education campaign. This initiative will include roadshows, promotional events, and training programs across Nigerian universities and other community venues, aimed at deepening awareness and fostering trust in the stablecoin.
Benjamin Onomor, Chief Executive Officer of Roqqu, stated:
We have major plans for cNGN. We want to unlock its full potential—not just for payments, but for financial services as well. In the near future, we envision cNGN powering low-interest loans, credit offerings, and other innovative financial solutions for our users.
With its grassroots infrastructure, expanding regional presence, and growing alignment with regulators, Roqqu is betting big that its support will help transform cNGN from a little-known token into a widely used digital currency in Nigeria and beyond.
