cNGN Secures Liquidity Pool on Orca as Dangote IPO Goes On-Chain

cNGN, the naira-pegged stablecoin, has secured a liquidity pool on Orca, the Solana-based decentralized exchange. This development comes just weeks after Celo created a similar pool for cNGN on Uniswap.

The pool pairs cNGN with USDC and holds nearly $26,000 in total value as of Sept. 17, according to Solscan data.

This is significant because GetEquity, a participant in the Nigerian SEC's Accelerated Regulatory Incubation Program, is using DPRI tokens on Solana and Base to put Dangote's IPO on-chain. The subscription settles in cNGN while the underlying shares clear through the NGX, Nigeria's primary stock exchange.