Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

More than 488,000 people have downloaded the consumer wallet for Nigeria’s central bank digital currency, the eNaira, according to a Bloomberg report on Monday.

  • Launched on Oct. 25, the eNaira has been used for NGN 62 million (US$150,000) in transactions, according to Osita Nwanisobi, a spokesman for the central bank the Bloomberg story cited.
  • Nigeria has minted about $1.2 million eNaira, central bank Governor Godwin Emefiele said when the CBDC was launched.
  • Nwanisobi said 78,000 merchants from 160 countries have signed up for the merchant wallet.
  • The eNaira was developed by Barbados-based Bitt, the fintech company that also worked on the Eastern Caribbean central bank’s digital currency.
  • Nigeria banned the use of cryptocurrencies in the country in February.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.