Digital Naira for the digital age
Nigerian Naira Token (NGNT) is a stablecoin pegged 1:1 to the Nigerian Naira issued using blockchain technology meaning it's available to everyone anywhere
What is NGNT?
NGNT is a 100% collateralized Nigerian Naira stablecoin issued on the Stellar network. These are a few things you can do with NGNT:
Send and receive NGNT globally
Trade NGNT for digital currency
Accept NGNT payments internationally
Transfer NGNT into your bank account
Convert to NGNT from your bank account
What are stablecoins?
Stablecoins are blockchain powered digital tokens that take the benefits of open, borderless digital currencies and giving them the price stability of traditional fiat currency held in reserve for an issued stablecoin token.
Stablecoins operate on blockchain networks so anyone with an internet connection can send or receive value globally in minutes while stability in price is achieved by typically backing the stablecoin with fiat currency.
Uses of stablecoins
Payments
Remittances
eCommerce
Financial applications
NGNT is redeemable or issued on a 1:1 basis for Nigerian Naira. Now financial institutions and startups can now add digital Naira payments knowing each NGNT is backed and held in a segregated bank account and with a growing ecosystem products and services like trading, remittances, payments and lending are now integrated into NGNT.
Benefits of NGNT
NGNT facilitates fast, secure and low-cost international payments that settle in minutes at the fraction of the cost of traditional payment rails.
NGNT allows financial institutions and startups deliver next generation business services facilitating payments for:
B2B payments
Trade finance
Online marketplaces
Revenue Model
Fees are charged for converting Naira to NGNT and redeeming NGNT to Naira
Fully reserved and
built on Stellar
NGNT is issued on the Stellar network and 100% backed and redeemable on a 1-to-1 basis for the Nigerian Naira
Transparent
NGNT is issued on the Stellar network and 100% backed and redeemable on a 1-to-1 basis for the Nigerian Naira
Cross-border B2B payments
Facilitates low-cost international payments as compared to traditional rails
API
Next generation Internet payments with NGNT API integration
Redeem in minutes
Fiat to digital and digital to fiat in 60 seconds
Cowrie Integrated Systems Limited is a UK based FINTECH group specializing in Pan African cross-border payments using blockchain and cloud technology.