Crunchfish Digital Cash in CBDC evaluation with the Central Bank of Nigeria


Crunchfish and Central Bank of Nigeria have entered into a Development and Demonstration Agreement for a Proof-of-Concept of Crunchfish Digital Cash offline payments with the eNaira, Nigeria’s advanced Central Bank Digital Currency project.

Nigeria, Africa's most populous nation, became the first African nation to launch a digital currency – the eNaira – 25 October 2021. A move that will expand access to banking, enable more remittances and grow the Nigerian economy. To increase financial inclusion and add more use cases to the eNaira, the Central Bank of Nigeria (CBN) is in the process of evaluating offline payments.

Crunchfish and CBN have entered into a Development and Demonstration Agreement for a Proof-of-Concept of Crunchfish Digital Cash. Crunchfish will deliver Digital Cash for iOS and Android and support CBN throughout this process. The Proof-of-Concept will integrate Digital Cash into the eNaira Wallet and backend to fully evaluate the user experience in a potential commercial deployment.

“We very much look forward to work closely with the Central Bank of Nigeria in this evaluation of offline payments in their advanced CBDC project. eNaira was one of the first CBDC projects in the world to be launched and it is very advanced with millions of users. Africa is extremely interesting for Crunchfish as communities here need offline payment the most. It is a great start in this vast continent to showcase the power of Digital Cash in Africa’s most populous country and with the Central Bank of Nigeria.” says Patrik Lindeberg, CEO Crunchfish Digital Cash AB.

About eNaira –
eNaira is a people-oriented digital currency leveraging technology to connect individuals and businesses for easy trading and financial inclusion. eNaira push the boundaries, bridge the gaps, and tell actual humane stories. eNaira is the foremost audience-centric digital currency brandishing a face.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88

This information is information that Crunchfish AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 25 November 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: Telephone +46 40 200 250.

About Crunchfish –
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.

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