The move comes as stablecoins gain traction across Africa, where they are increasingly seen as tools for trade, remittances, and protection against currency instability.

The cNGN, launched in February by WrappedCBDC Ltd., is backed by reserves in commercial banks. It is regulated by the Securities and Exchange Commission (SEC) and minted across six blockchains, Asset Chain, Base, Bantu, Polygon, Ethereum, and Binance, allowing for cheaper transfers and broad network compatibility. 

So far, about ₦604 million ($395,000) worth of the token is in circulation, but retail uptake has been slower than expected.

Roqqu says it intends to change that by leveraging its strong presence in underserved areas. “We know our way when it comes to the grassroots market,” said Emmanuel Peter, head of Academy and Business Partnership at Roqqu. 

“A currency is not a thing if it’s not embraced by the people, and we know how to get to these people. This could be what the cNGN token has been missing—wider distribution.”

To reduce barriers, the exchange has announced that cNGN transactions will be feeless, although it will earn fees on fiat-to-stablecoin swaps. The token has already been integrated with Base, one of its supporting networks, as part of Roqqu’s rollout.

Beyond Nigeria, Roqqu is preparing to drive cNGN adoption across borders. In July, it acquired Flitaa, a Kenyan crypto startup with over 70,000 users and deep M-PESA integration. The acquisition strengthens its East African presence and also creates opportunities for cross-border payments between Nigeria and Kenya, with potential extensions into Uganda, Rwanda, and Tanzania.

CEO Benjamin Onomor confirmed that cNGN will be central to Roqqu’s long-term plans. “We have a lot of major plans for cNGN,” he said. “We want to unlock all the opportunities this [cNGN] stablecoin brings, including eventually providing users with low-interest loans and other financial services.”

Nigeria has already established itself as Africa’s leading stablecoin market, processing nearly $22 billion worth of transactions between July 2023 and June 2024. Stablecoins account for 43% of all crypto activity in Sub-Saharan Africa, fuelled by limited foreign exchange access, naira instability, and widespread distrust in traditional banking.

With cNGN now listed on Roqqu and backed by the Africa Stablecoin Consortium, a coalition of fintech and blockchain firms, the stablecoin is better positioned to move from regulatory approval to everyday use.

This new alliance will leverage the combined expertise and resources of both organizations to foster innovation, drive development, and accelerate the adoption of blockchain technology across Nigeria.

The partnership comes shortly after Roqqu was welcomed into the SiBAN network as a corporate member, solidifying a joint commitment to building a more credible, transparent, and sustainable digital asset ecosystem.

The collaboration is designed to bridge the gap between rapid technological innovation and responsible adoption, while prioritizing user protection and ethical standards.

In a statement, the organizations detailed a range of initiatives to be launched as part of this collaboration, all aimed at promoting financial inclusion and responsible innovation.

Key initiatives to be carried out by the two organisations include jointly hosting events to educate both the public and industry professionals on blockchain technology, developing training programs to equip developers and the public with the skills needed to thrive in the blockchain space and actively engaging with regulators and policymakers to help shape a more informed and compliant blockchain community in Nigeria.

“We are delighted to have this collaboration. Our collective strength lies in the diversity and commitment that we both bring to the table and ultimately, contribute to the growth of the blockchain ecosystem,” said Obinna Iwuno, President of SiBAN in the statement.

Roqqu has seen remarkable growth in recent years, establishing itself as a leading force in making cryptocurrency and digital finance accessible.

With a focus on providing fast, reliable, and user-friendly services, the company has expanded its footprint beyond Nigeria into other key African markets, including Ghana, Kenya, and South Africa.

This expansion, along with a virtual currency license to operate in the European Economic Area (EEA), positions Roqqu as a truly international fintech company.

Reacting to the partnership, Roimot Ajiboye-Ibitoye, the chief compliance officer of Roqqu, said partnering with SiBAN is a natural step to make blockchain technology and digital finance accessible, safe, and beneficial for everyone, insisting that together, the two organisations are not just talking about blockchain adoption. Rather, actively building the frameworks, trust, and education needed for it to thrive responsibly in Nigeria.

“This collaboration represents a united front between innovators and industry advocates to create a credible, transparent, and sustainable digital asset ecosystem. By combining our expertise with SiBAN’s strong advocacy and regulatory engagement, we are setting the stage for a future where blockchain becomes a trusted driver of financial inclusion and economic growth across the globe,” he said.

This partnership highlights a shared vision between Roqqu and associations like SiBAN that play a crucial role in bridging the gap between industry innovation and responsible adoption to ensure the benefits of blockchain are accessible to a wider audience, creating a safer and more robust future for digital finance in Nigeria.

SiBAN as a body provides a platform where stakeholders can share knowledge and experiences, where companies can engage in constructive policy discussions with regulators, where communities can learn about safe, responsible participation in the blockchain space and where businesses can collaborate on solutions that serve both economic and social development goals.

Industry watchers believe that this partnership highlights a shared vision of creating a credible, transparent, and sustainable digital asset ecosystem.

By working together, Roqqu and SiBAN aim to bridge the gap between rapid technological innovation and responsible adoption, ensuring that the benefits of blockchain are accessible to a wider audience while prioritizing user protection and ethical standards.

Scheduled to take place from October 15 –16, 2025, at the Eko Convention Centre in Lagos, Nigeria, the future-shaping conference will convene over 4,000 participants and more than 120 speakers from over 15 countries, all focused on accelerating the trajectory of Africa’s tech-driven future.

This year’s theme, “Building Momentum: Africa’s Tech Ecosystem Positions Itself for Its Next Big Leap,” captures a critical moment for the continent’s tech landscape. Following years of resilience through economic downturns and funding contractions, the ecosystem is maturing rapidly and sensibly redirecting focus toward sustainable, scalable growth.

Moonshot 2025 will serve as a platform to consolidate these hard-won gains and align stakeholders around the next era of opportunity, across key tech verticals.

Headline sponsored by Sabi, a global trade and supply chain enabler, the agenda-setting conference has evolved into a continental platform for catalysing connections, unlocking capital, and amplifying bold ideas.

Now in its third year, Moonshot serves as a dynamic hub, and a living museum, of Africa’s innovation journey, actively bridging past achievements with future ambitions.

Speaking about the event, Tomiwa Aladekomo, CEO of Big Cabal Media, said:

“The last few years truly tested the resilience of Africa’s tech ecosystem, but they also undeniably sharpened it. The ups and downs in funding have given way to something far more intentional, with founders now building smarter and with clearer purpose. Despite the challenges, African founders have persevered and thrived. Crucially, regulations have also matured, providing much-needed direction. What we’re witnessing now is genuine momentum, firmly grounded in strong fundamentals, propelled by clarity, and intensely focused on scale. Moonshot 2025 offers a vital space to reflect on our journey and to channel this momentum into meaningful progress for founders, investors, and the entire ecosystem”

This year’s edition will welcome a distinguished lineup of speakers, including Andrew Alli, non-executive director, British International Investment (BII), Maxime Bayen, Operating Partner, Catalyst Fund, and Lexi Novitske, General Partner, Norrsken22, among others.

The event will also showcase its nine signature content tracks, now enhanced with refreshed programming designed to foster deeper, more impactful conversations. This include:

• FUEL: The Investor Conference: This track is significantly upgraded to improve deal-making and investment opportunities, with a stronger focus on attracting Limited Partners (LPs), Development Finance Institutions (DFIs), and first-time investors in Africa. It will feature structured deal rooms, curated pitch sessions, an investor’s guide to Africa, and dedicated spaces for peer exchange across the investor landscape.
• Startup Festival: Tailored for both early- and growth-stage founders, this festival will offer intensive workshops, operator-led sessions, and live startup showcases, including the TC Battlefield – it’s flagship pitch competition.
• Emerging Tech (AI): A dedicated space to explore the practical applications of artificial intelligence across various sectors on the continent, featuring product demos and insights from leading builders and researchers.
• Government & Policy Conference: This vital track will convene policymakers from across Africa to engage in discussions on crucial digital policy reforms and work towards tangible commitments to support innovation and scale across the continent.

Additional tracks, including Creative Economy, Climate Tech, Future of Commerce, Big Tech & Enterprise, and Entering Tech, will feature compelling conversations on critical topics such as financing infrastructure, workforce development, and fostering cross-sector collaboration.

Also speaking about the event, Anu Adedoyin, CEO and co-founder of Sabi said:

“This marks our third year as a proud partner of Moonshot, and the evolution of this conference mirrors the incredible growth and ambition of African tech. We believe in building robust foundations for digital commerce, and Moonshot is crucial for fostering the connections and clarity needed for founders to build smart, scalable solutions. We’re excited to see the tangible momentum this year’s event will generate for Africa’s next big leap.”

Proudly supported by platinum sponsors Flutterwave, Luno, Fincra, Raenest, Cardtonic, Roqqu, Opay, and Busha, the conference will build on the outcomes of previous editions, including a $120,000 ecosystem pledge at last year’s Tech Ecosystem Alliance roundtable.

Delegates are encouraged to register via moonshot.techcabal.com  with Early bird tickets available through July 31.

The event is open to founders, operators, investors, creatives, policymakers, students, and professionals shaping Africa’s innovation economy.

Similar scenes played out simultaneously across 18 cities in four African countries—from Nairobi’s tech hubs to Accra’s bustling business districts.

This synchronized celebration marked the continent’s largest coordinated cryptocurrency event: Bitcoin Pizza Day Fest.

“Most people focus on what those Bitcoins would be worth today—over $1 billion,” says Obinna Iwuno, founder of Crypto Bootcamp Community (CBC), the organization behind the continental festival. “But they miss the revolutionary act itself—the moment cryptocurrency transformed from theoretical concept to practical currency.”

Iwuno, a former image developer who discovered Bitcoin in 2016, has built what Bloomberg Intelligence analysts now recognize as Africa’s most expansive grassroots crypto education network.

In just four years, CBC’s Bitcoin Pizza Day initiative has expanded from a modest gathering in Lagos to a synchronized festival spanning 16 countries, with both Francophone and Anglophone participation.

Reframing a Crypto Legend

Bitcoin Pizza Day commemorates May 22, 2010, when programmer Laszlo Hanyecz paid 10,000 Bitcoin—then worth about $41—for two Papa John’s pizzas. What seemed unremarkable at the time is now cryptocurrency folklore: those bitcoins would be worth over a billion dollars today.

“The narrative had become distorted,” Iwuno explains during a video call from CBC’s Lagos headquarters. “People called Hanyecz foolish, but without that transaction, would Bitcoin have evolved from a programmer’s experiment to a global asset class? Someone needed to be first.”

This perspective informs CBC’s approach. Rather than focusing on speculation and price movements, their events emphasize Bitcoin’s utility, history, and practical applications.

Since 2022, CBC has organized over 80 Bitcoin Pizza Day events across 15 African countries, reaching more than 50,000 participants.

“We don’t sell get-rich-quick schemes,” says Iwuno. “We’re building infrastructure for a continent where 57% of adults remain unbanked, where remittance costs average 8.9%, and where currency devaluations are routine political risks.”

Measuring Real Impact

The metrics behind CBC’s work reveal substantial influence. The organization has directly onboarded over 20,000 Africans into the cryptocurrency ecosystem through their events.

More significantly, their educational initiatives have catalyzed the formation of independent Bitcoin clubs, circular economies, and entrepreneurial ventures across the continent.

“We track three outcomes,” explains Iwuno. “First, everyday citizens acquiring their first bitcoin. Second, local businesses accepting cryptocurrency payments. Third, developers building Africa-focused blockchain solutions.”

This approach has attracted corporate partners including Tether, Yellow Card, Quidax, and Roqqu, who see CBC’s community-first strategy as key to sustainable adoption in African markets.

Prolific Crypto Marketer Caleb Nnamani notes:

“What distinguishes CBC’s approach is their focus on use cases relevant to local economic conditions—cross-border payments, remittances, and inflation hedging—rather than speculative trading.”

Building Pan-African Infrastructure

CBC’s ambitions extend beyond annual celebrations. The organization has developed an infrastructure plan targeting all 54 African countries, with a goal of onboarding 10 million Africans into the Bitcoin economy by 2030.

“We’re creating an interconnected network of knowledgeable communities,” says Iwuno. “When regulatory frameworks mature or institutional adoption accelerates, these communities will form the backbone of Africa’s cryptocurrency ecosystem.”

This vision positions CBC at the intersection of two powerful trends: Africa’s demographic dividend (with 60% of the population under 25) and cryptocurrency’s promise of financial inclusion. The continent’s high mobile penetration rates—exceeding 80% in key markets—provide the technological foundation for this vision.

“Africa doesn’t need to replicate Western financial infrastructure,” Iwuno argues. “We can leapfrog directly to decentralized systems built on open protocols.”

A Global Movement with African Characteristics

What began as a commemorative event has evolved into something more significant: a uniquely African expression of global cryptocurrency culture.

CBC’s Pizza Day festivities incorporate local music, art, and cuisine while maintaining the universal symbolism of Bitcoin’s first real-world transaction.

This cultural adaptation has proven contagious. Since CBC’s first coordinated event in 2022, Bitcoin Pizza Day celebrations have proliferated across Africa, with competing organizations and companies now marking the occasion on their annual calendars.

“We’ve ignited something that’s bigger than us,” reflects Iwuno. “That’s how movements begin—someone takes a familiar story and recontextualizes it for new circumstances.”

For a continent often relegated to the periphery of financial innovation, CBC’s work represents something profound: ownership of a global narrative and its adaptation to local conditions.

As Iwuno prepares for this year’s expanded Bitcoin Pizza Day Fest, his ambitions have already outgrown the annual celebration.

“When every African village has a Bitcoin circular economy,” he says, “we’ll have accomplished our mission. The pizza story is just the beginning.”

Iwuno has expressed desire for more partnerships and collaborations. He can be contacted here.

While the Africa Stablecoin Consortium (ASC), the token’s developer, has initiated discussions with Roqqu and Yellow Card, neither platform has committed to listing it.

Despite cNGN’s approval under Nigeria’s SEC Accelerated Regulatory Incubation Programme (ARIP) and its availability on Busha and Quidax, its wider adoption hinges on securing listings on platforms with a pan-African reach. Without that, the stablecoin’s use in remittances and cross-border transactions is still not certain.

Jason Marshall, chief operating officer of Yellow Card, acknowledged ASC’s regulatory approval but stressed that listing decisions require more than compliance. “We have a lot of respect for any project that has been admitted to Nigeria’s SEC Accelerated Regulatory Incubation Programme (ARIP); we take it seriously,” he said. However, he noted that Yellow Card is selective, with a focus on demand, financial reserves, and compliance.

“Before we would consider a coin most times, they would have raised the equivalent of ₦50 billion ($32.5 million) in capital reserves and have an accounting firm sign a document saying it validates those reserves,” Marshall explained. “We would expect them to be well-capitalised to back the coin.”

The main challenge for cNGN isn’t just getting listed, but proving that users actually want it. In Nigeria, digital transactions via traditional banking channels are already fast and cheap. This makes some exchanges sceptical about the stablecoin’s domestic relevance. 

“For domestic use cases within Nigeria, I’m not sure because the Naira is already digital,” Marshall admitted. “The Nigerian bank transfer system is very advanced; transfers are instant and low-cost, but we’re open-minded to domestic use cases—we’re just unsure as of yet.”

Roqqu’s CEO, Eseoghene Onomor, also confirmed talks with ASC but noted the same concerns. “These things take time,” he said. “It’s not enough to list a coin or token on your platform. It has to be something that people want. Not everyone is seeing the value of the cNGN right now, because adoption is low, but I see its value.”

This brings a catch-22 for ASC: without exchange listings, cNGN’s adoption will be slow, however, exchanges want evidence of demand before listing it. 

While the stablecoin’s likelihood to enable seamless swaps between African currencies exists, its immediate viability is still questioned Unless it gains stronger institutional backing or a clear market need emerges, Nigeria’s first compliant stablecoin could remain on the sidelines of Africa’s crypto economy.