Almost 500,000 Nigerian CBDC wallets have been downloaded since the start-FinTech

Almost half a million e-naira wallets were downloaded a few weeks after the official introduction of the central bank's digital currency (CBDC) by the Nigerian President Muhammadu Buhari, the central bank said.

The initial trade volumes of E-Naira

In addition to the 488,000 downloaded wallets, Osita Nwanisobi, spokeswoman for the Central Bank of Nigeria (CBN), confirms that a total of 78,000 dealers from 160 countries have registered in order to become part of the E -Naira ecosystem.

Despite the apparently early success of the CBDC, A Test report von Bloomberg quotes Nwanisobi, who confirms that the digital currency has only been traded in the value of $ 150,000 ($ 62 million) since the start. On the other hand, between 2017 and 2020, Nigerians traded around 60,215 bitcoins that currently have a value of over 3.6 billion US dollars.

This trade volume, which is the largest outside of the United States, indicates that the cryptocurrency has become an important alternative to the derogatory Naira. As before btc to secure against inflation.

continuous attempts to limit the use of cryptocurrencies

In the context of the effort to restrict further growth and interest in cryptocurrencies, the CBN first has directed financial institutions from Cut off banking system. The introduction of E-Naira, the first CBDC Africa, is the latest attempt by the CBN to distract Nigerians from cryptocurrencies such as Bitcoin.

Despite these efforts, a study by Chainalysis still showed that Nigeria has one of the largest shares in retail users who carry out cryptocurrency transactions below $ 10,000.

What do you think about this story? Tell us your opinion in the comments below.

Bedy verification : Shutterstock, Pixabay, Wiki Commons