CBN Opens Sandbox for Virtual Assets, Stablecoins
CBN opens its second Regulatory Sandbox cohort, allowing fintechs and virtual asset firms to test new financial technologies under supervision.
The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing a dedicated track for virtual assets, stablecoins and related financial technologies.
The announcement was contained in a statement signed and released on Tuesday by Sidi-Ali Hakama, Ag. Director, Corporate Communications and Investor Relations Department of the CBN.
Applications open on August 12 and close on August 31, 2026, with eligible innovators, financial institutions, Virtual Asset Service Providers (VASPs), fintechs and technology companies invited to participate.
Cohort 2 features two testing tracks: the Virtual Asset Service Provider (VASP) Track and the Data-Enabled Financial Services (Non-VASP) Track.
The VASP Track will support virtual asset, stablecoin, payment, settlement, custody, wallet and related financial infrastructure solutions requiring supervised live testing.
The Non-VASP Track will support innovations using secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency and consumer outcomes.
The CBN said its Regulatory Sandbox provides a controlled environment for participants to test innovative financial products, services, business models and technologies under its supervision.
The apex bank said the programme would strengthen regulatory understanding of emerging technologies while supporting responsible innovation, consumer protection, financial stability and market integrity.
Applicants will be assessed based on innovation, readiness for controlled live testing, potential consumer or market benefits, governance, risk management capacity and the suitability of their testing plans.
Successful participants will conduct supervised testing within parameters agreed with the CBN, including safeguards for consumer protection, operational resilience, cybersecurity and regulatory reporting.
The CBN stressed that participation in the sandbox does not constitute a licence, authorisation or approval to operate outside approved testing parameters.
It said insights from the programme would inform the development of regulatory and supervisory frameworks for Nigeria’s evolving digital financial ecosystem.
Eligible organisations can apply through the CBN Regulatory Sandbox Portal between August 12 and August 31, 2026.
For further information, applicants are advised to visit the CBN website at www.cbn.gov.ng or the Regulatory Sandbox Portal at https://sandbox.cbn.gov.ng.
Enquiries can be directed to sandbox@cbn.gov.ng and/or the Director, Payments System Policy Department, Central Bank of Nigeria.
