Wrapper-eNiara on the Ethereum blockchain has recently been launched by Boom DAO. This is coming after the launch of a unified dollar payment and bid to ease and speed up commercial activities in the country.
Boom DAO stated that one of the goals of the wrapped e-Naira would be to ease and speed up the internal and external transfer of large amounts of money within the country.
According to the organization, “WeNGN is an open-source and permission-less version of the Nigerian Central Bank Digital Currency, the eNaira”.
The introduction of fiat-level liquidity from the continent’s biggest economy has the highest number of crypto users in the Ethereum community.
The firm added, “WeNGN is fixed at 1:1 to the eNaira. So, one WeNGN equals one eNaira which equals one Naira”.
They also noted that citizens of the country and external commercial activities can now transfer money overseas without any restriction.
The firm expressed delight saying, “WeNGN will allow citizens to pay for international goods, facilities and subscriptions (Netflix, etc) in naira, businesses overseas, and Nigerian tourists to repatriate their monies overseas smoothly and without restrictions and everyone to conveniently access their naira with them internationally and also access funds in any nation’s currency globally.
