Asset Chain, a blockchain infrastructure firm based in Nigeria, has officially launched its namesake Layer-1 (L1) blockchain, aiming to deliver a more secure and efficient way for Nigerians to trade both digital and real-world assets. Designed to remove reliance on intermediaries such as traditional banks or informal brokers, the platform seeks to improve the country’s peer-to-peer (P2P) transaction ecosystem with enhanced speed, transparency, and security.
The launch includes a decentralized exchange (DEX) that enables users to trade directly between cNGN, a Naira-backed stablecoin, and USDT, the widely used dollar-pegged token issued by Tether. The DEX has been promoted as a gasless platform, meaning users are not required to pay transaction fees—a feature that the company claims is subsidized within the network.
Targeting Nigeria’s vibrant crypto sector
Nigeria’s crypto sector processed approximately $59 billion in transactions during 2024, with a significant portion of this activity occurring through informal P2P platforms. These platforms often lack traceability and are prone to fraud, leading Asset Chain to develop a solution that uses smart contracts to automate trades. The company’s goal is to remove the need for trust between buyers and sellers by enabling instant settlement based on pre-defined conditions.
According to company representatives, when a trade is initiated, smart contracts on the platform evaluate the offer and automatically match it with a suitable counterparty. Once matched, the transaction is executed without requiring human mediation. At launch, the DEX has attracted 200 traders and liquidity providers, and interest appears to be growing rapidly. Asset Chain is targeting ₦100 billion (approximately $65 million) in trading volume within the first two months of operation.
Early access and infrastructure goals
The blockchain is currently operating on an invite-only basis. The company has indicated that this approach is intended to ensure that early participants are committed contributors who will help provide liquidity and test the system under real-world conditions. The company has also stated that performance limitations are not a concern, as internal tests have demonstrated the network’s ability to handle over 20,000 transactions per second.
After years of development and testnet activity, Asset Chain’s mainnet has now gone live with a broader mission: to keep more of Nigeria’s digital payment value within the country and the African continent. This vision aligns with similar efforts from regional blockchain initiatives like Bantu, which seek to redirect liquidity from global platforms such as Ethereum and Solana toward locally developed networks.
Expanding into tokenized real-world assets
Looking ahead, Asset Chain plans to enable trading in tokenized real-world assets, including Nigerian real estate, agricultural products, and government bonds. The infrastructure would allow individuals to purchase fractional ownership in physical assets or invest in various sectors, with all transactions immutably recorded on-chain. To ensure integrity, asset issuers will undergo identity verification, compliance checks, and insurance requirements.
As part of this strategy, the company has partnered with investment platform Risevest to facilitate yield-bearing opportunities for Nigerians and diaspora investors. Through this collaboration, participants may be able to earn up to 15% annually on certain assets.
With the addition of Assetbase—another company building applications atop the Asset Chain infrastructure—the broader ecosystem is positioning itself as a hub for decentralized finance and asset ownership within Nigeria. If adoption continues as planned, the platform could bring new levels of financial inclusion, investment access, and transaction transparency to a historically underserved market.
