Nigeria tightens rules for dollar stablecoin issuers as naira coin lags

Nigeria’s central bank has set new rules that make issuers of dollar-linked stablecoins open a local presence and pass capital and reserve tests. Foreign companies that market their coins to Nigerians, even if they have no office in the country, will have to adapt to the new rules. Meanwhile, Nigeria’s own naira coin, cNGN, is...