Naira Token (NGNT)

Naira Token (NGNT) is a Naira backed stablecoin brought to you by Token Mint. It is an ERC-20 token that converts the Naira into a digital currency that will always be 100% backed by our Naira Reserves. It bridges the Naira with the advantages of digital currency, giving cryptocurrency traders, business owners and software developers the ability to transact with the Naira across the blockchain.

Unlike most volatile digital currencies, it is pegged 1:1 against the Naira. This means that for every NGNT out there on the network, there is an equivalent Naira amount held securely by our partner bank(s). That is, 1 NGNT will always be redeemable for 1 Naira.

NGNT is on the world's leading smart contract platform, the Ethereum blockchain.

Financially Transparent

NGNT is issued and regulated by Token Mint and full reserves are kept in licensed financial institutions. All Token Mint partners who are NGNT issuers are required to publicly declare their Naira reserve holdings.

Cartilage Consulting Group, a third-party independent audit firm audits and publishes attestation reports on these balances monthly. The following provides guidance on how the NGNT auditing and minting governance process will go.