When we launched Busha, our focus was simple: make it easier and safer for Africans to buy, sell and use digital assets. Over the years, we've learned that what people really want isn't necessarily cryptocurrency itself, but better ways to manage and move their money.
That understanding has shaped how Busha has evolved. Today, we're building products across trading, savings, lending, payments and business financial services, bringing more of the everyday financial experience into one place.
As our products have expanded, so has our appreciation of the infrastructure needed to support them. One of the gaps we've increasingly encountered is the absence of widely accessible local currency settlement instruments on blockchain networks.
That's why we're introducing NGNb, a Naira-backed stablecoin designed to make the Nigerian Naira available for transactions across digital financial platforms.
We're joining an existing market, with cNGN having already established an important foundation for tokenised Naira in Nigeria. We previously supported cNGN on Busha, and believe greater participation and innovation in this space will help develop the market.
For us, the opportunity is largely practical. Businesses increasingly operate across banking systems, digital asset platforms and international payment networks, often having to move funds between different accounts and settlement arrangements. These transitions create friction, particularly when transactions involve blockchain-based assets but the corresponding payments must still be processed through traditional channels.
NGNb is intended to help bridge that gap. A business could use it to settle transactions with another platform, an exchange could offer Naira-denominated trading pairs onchain, and financial institutions could integrate it into their payment and treasury workflows. As more traditional financial instruments become tokenised, NGNb could also serve as a settlement currency for those markets.
Each NGNb is designed to represent one Nigerian Naira, backed by corresponding Naira-denominated reserves. Building confidence in that relationship will be essential, which is why reserve transparency, reliable redemption and regulatory compliance are important parts of our approach.
We also want NGNb to succeed beyond Busha. Our goal is to make it available to other exchanges, fintechs, developers and financial institutions that want to build products around the Naira. Its long-term value will depend on how widely it is adopted and the problems it helps solve, not simply how much is issued.
This fits into our broader ambition with Busha 3.0. We're working towards a financial experience where customers can save, invest, borrow, trade and spend without the complexity of managing disconnected services. NGNb gives us another way to connect these experiences while supporting the wider ecosystem.
We've always believed that the best financial technology should make life easier without requiring people to understand everything happening behind the scenes. That's the standard we're building towards with NGNb: reliable, useful infrastructure that makes it simpler for people and businesses to transact in Naira.
We're looking forward to working with partners across the industry to bring that vision to life.
Learn more at ngnb.co.
Michael Adeyeri
Co-founder & CEO, Busha