Defi Technologies invests in Continental Stablecoin

Executive Summary

• Defi Technologies Inc. has made a strategic investment in Continental Stablecoin Inc. (CSI), the developer of the cNGN regulated stablecoin in Nigeria, to accelerate adoption across Africa.
• The investment was made via a Simple Agreement for Future Equity (SAFE) alongside other investors including Coinbase Ventures and Adaverse.
• The move aligns with Defi Technologies' broader strategy to build compliant digital asset infrastructure and leverage Nigeria's rapidly maturing regulatory landscape for digital assets.

Key Details

• Investment Structure: Defi Technologies invested in CSI through a Simple Agreement for Future Equity (SAFE).
• Co-Investors: The round includes Coinbase Ventures, Adaverse, and other stablecoin industry leaders.
• Target Company: Continental Stablecoin Inc. (CSI), which develops the cNGN stablecoin.
• cNGN Stablecoin Metrics (as of Sept. 15, 2025):
  • Tokens in circulation: ~602.9 million.
  • Cumulative on-chain transactions: >75,000.
  • Cumulative trading volume: >20.1 billion cNGN.
  • 24-hour trading volume: ~164.4 million cNGN.
• Issuer Details: cNGN is issued by Wrapped CBDC Ltd., a joint venture involving Convexity, AlphaGeeks, and Interstellar.
• Regulatory Context: Nigeria ranks first globally in stablecoin adoption (25.9 million users, 11.9% penetration). The Securities and Exchange Commission of Nigeria has recognized digital assets as securities under the 2025 amended Investments and Securities Act, and the Central Bank has issued updated guidelines for crypto banking relationships.
• Strategic Rationale: Defi Technologies aims to support locally regulated, purpose-built stablecoins for payments, savings, and commerce, complementing its existing portfolio including Valour ETP, Stillman Digital, and Defi Advisory.

Notable Quotes

• "Stablecoins will form the backbone of modern financial systems," said Andrew Forson, president of Defi Technologies. "We believe that locally regulated, purpose-built stablecoins like cNGN will unlock scalable, real-world use cases in payments, savings and commerce, and we're excited to support that future across Africa and beyond."