“Stablecoins are going to be a major financial engine in Africa, and I don’t just mean USD-backed stablecoins. It also includes local stablecoins like the CNGN,” he said,” referencing the strong adoption of stablecoins like USDT and USDC among the younger generations, emphasizing that stablecoins are already becoming a major part of the financial system.
He also praised the CNGN as the first proper attempt to create a regulated Nigerian stablecoin, expressing hope that more African countries will follow suit.
Mr Iwu stated that Ledig is in the financial market to help businesses navigate the FX struggles they go through.
“We help companies, including those facilitating payments for retail users, access liquidity. Our OTC desk enables high-ticket, high-volume foreign exchange and stablecoin conversions between local currencies and stablecoins, and vice versa.
“We also provide hedging instruments that allow businesses to protect themselves against currency exchange risks.
“Whatever you are doing in Africa, whether it’s trade financing, payments, e-commerce, trading, imports, exports, Ledig helps guarantee stablecoin liquidity you can leverage to scale, removing the FX hurdles that usually slow businesses down,” he stated, averring that many companies serving the retail trade sector rely on Ledig’s infrastructure to serve their customers.
“While having the US dollar for foreign exchange protection is important, having a properly digitized Nigerian Naira that is accessible to people and businesses outside Africa is equally critical. It’s initiatives like this that are also very useful for companies like Ledig,” Mr Iwu submitted.
reports that Ledig Technologies is a fintech company focused on providing financial solutions for businesses with foreign exchange exposure to Africa.
