StableNaira
$SNR
$0.000737
0.21%
BSC
0x6b6f93a12705b6eb60490a8b8a9ac15b3b1ce0f2
1h %
1.29%
6h %
4.36%
24h %
0.21%
Market Cap
$33.4K
Volume 24h
$1.1K
Liquidity
$33.6K
About StableNaira
StableNaira (SNR) is a fiat-collateralized, on-chain representation of the Nigerian Naira (NGN). Each unit of SNR is backed 1:1 by audited NGN-denominated reserves held with CBN-licensed Nigerian banks in segregated trust accounts, with mint and burn flows tightly aligned to verifiable reserve movements.
The protocol is built by the StableNaira Development Team as a public good for payments,
remittances, savings, programmable commerce, and cross-border value transfer — first in Nigeria,
then across the African continent, and ultimately as a bridge currency between African economies and the global digital-asset economy. Nigeria sits at the intersection of three powerful curves: a young, mobile-first population (median age 17.9), one of the world's highest stablecoin adoption rates per capita, and a regulatory environment actively chartering Virtual Asset Service Providers (VASPs) under the SEC's Accelerated Regulatory Incubation Programme (ARIP) and the Investments and Securities Act 2025 (ISA 2025).
The window for a Nigeria-native, NGN-denominated, regulator-friendly stablecoin is open now, and SNR is built into that window — not against it. Technically, SNR is a UUPS-upgradeable ERC-20 built on OpenZeppelin v5, with EIP-2612 permit, AccessControlEnumerable for transparent on-chain role inspection, and regulator-recognisable compliance primitives baked directly into the token: pause, freeze, seize, role-gated mint/burn, and a hard mint cap anchored to attested reserves.
Cross-chain movement uses a native burn-and-mint Cross-Chain Transfer Protocol (CCTP) — tokens are destroyed on the source chain and freshly minted on the destination chain by an m-of-n validator quorum. There are no wrapped tokens, no liquidity-pool bridges, and no synthetic representations. A multi-reporter, quorum-signed on-chain price oracle protects the NGN/USD mark with bounded staleness and deviation caps.
The on/off-ramp is bank-rails-first: minting is anchored in licensed Nigerian banking partners through Paystack virtual-account orchestration and Bank-Verification-Number (BVN)-anchored KYC — not P2P trust. Reserves are attested monthly by an ICAN-accredited auditor, with Big-Four assurance targeted from year two.
Every privileged action is gated by a governance multisig and a one-hour on-chain timelock. All
contracts are verified on Etherscan, BscScan, BaseScan, and Sourcify. SNR is positioned not to
displace USD stablecoins but to complement them with a regulator-aligned Naira leg on every chain those stablecoins trade on.
The protocol is built by the StableNaira Development Team as a public good for payments,
remittances, savings, programmable commerce, and cross-border value transfer — first in Nigeria,
then across the African continent, and ultimately as a bridge currency between African economies and the global digital-asset economy. Nigeria sits at the intersection of three powerful curves: a young, mobile-first population (median age 17.9), one of the world's highest stablecoin adoption rates per capita, and a regulatory environment actively chartering Virtual Asset Service Providers (VASPs) under the SEC's Accelerated Regulatory Incubation Programme (ARIP) and the Investments and Securities Act 2025 (ISA 2025).
The window for a Nigeria-native, NGN-denominated, regulator-friendly stablecoin is open now, and SNR is built into that window — not against it. Technically, SNR is a UUPS-upgradeable ERC-20 built on OpenZeppelin v5, with EIP-2612 permit, AccessControlEnumerable for transparent on-chain role inspection, and regulator-recognisable compliance primitives baked directly into the token: pause, freeze, seize, role-gated mint/burn, and a hard mint cap anchored to attested reserves.
Cross-chain movement uses a native burn-and-mint Cross-Chain Transfer Protocol (CCTP) — tokens are destroyed on the source chain and freshly minted on the destination chain by an m-of-n validator quorum. There are no wrapped tokens, no liquidity-pool bridges, and no synthetic representations. A multi-reporter, quorum-signed on-chain price oracle protects the NGN/USD mark with bounded staleness and deviation caps.
The on/off-ramp is bank-rails-first: minting is anchored in licensed Nigerian banking partners through Paystack virtual-account orchestration and Bank-Verification-Number (BVN)-anchored KYC — not P2P trust. Reserves are attested monthly by an ICAN-accredited auditor, with Big-Four assurance targeted from year two.
Every privileged action is gated by a governance multisig and a one-hour on-chain timelock. All
contracts are verified on Etherscan, BscScan, BaseScan, and Sourcify. SNR is positioned not to
displace USD stablecoins but to complement them with a regulator-aligned Naira leg on every chain those stablecoins trade on.
Security Scan
Automated scan — always DYOR.
AI Analysis
StableNaira ($SNR) is a Nigerian‑naira‑backed stablecoin launched on BNB Smart Chain, where each token is claimed to be fully collateralised by NGN reserves held in licensed Nigerian banks. The protocol uses an upgradeable ERC‑20 contract with built‑in compliance features such as pausing, freezing and role‑gated mint‑burn, and it moves across chains via a burn‑and‑mint bridge governed by an m‑of‑n validator quorum. Its design targets regulated payments, remittances and commerce within Nigeria and the broader African digital‑asset ecosystem.
Frequently Asked Questions
What is the current price of SNR?
The current price of StableNaira (SNR) is $0.000737.
What is the market cap of SNR?
The market cap of StableNaira is $33.4K.
What is the 24-hour trading volume for SNR?
The 24-hour trading volume for SNR is $1.1K.
What is StableNaira and how does it maintain its value?
StableNaira is a fiat‑collateralised stablecoin that represents the Nigerian Naira on‑chain. Each SNR token is minted only when an equivalent NGN is deposited in segregated trust accounts at CBN‑licensed banks, and the reserves are audited monthly, ensuring a 1:1 backing that keeps the token’s value pegged to the Naira.
Why does StableNaira use a burn‑and‑mint cross‑chain bridge instead of wrapped tokens?
The project’s cross‑chain protocol destroys SNR on the source chain and mints new tokens on the destination chain through a quorum of validators, eliminating the need for liquidity‑pool bridges or synthetic wrappers. This approach reduces counter‑party risk and aligns token supply directly with verified reserve movements on each chain.
Who is the intended user of StableNaira?
StableNaira is aimed at Nigerians and other African users who need a regulator‑friendly digital representation of the Naira for payments, remittances, savings and programmable commerce. It is also useful for crypto traders and DeFi platforms that want a compliant NGN‑denominated stablecoin integrated with existing bank‑grade KYC (BVN) and audit processes.
Token Stats
Chain
BSC
Launch Date
May 05, 2026
Age
4w
Decimals
N/A
Native Price
12717.4249 WKC
Holders
0
Contract
0x6b6f93a12705b6eb60490a8b8a9ac15b3b1ce0f2
24h Sentiment
51 Buys (40.2%)
76 Sells (59.8%)
Buy / Trade
Charts
SNR / USD Converter
SNR
⇅
USD
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