Nigeria leads Africa’s stablecoin boom with $22B transactions, driving innovation, financial inclusion, and transforming cross-border trade.
Nigeria has emerged as Africa’s biggest stablecoin hub, recording $22B in transactions from July 2023 to June 2024, per Yellow Card.
Stablecoins now make up 43% of Sub-Saharan Africa’s crypto activity, with South Africa, Kenya, and Ghana following closely.
Globally, the market soared from $5B in 2020 to $230B in May 2025—but adoption is sharpest in emerging economies.
Why Nigeria leads
1. Shield from naira volatility and FX scarcity
2. Faster, cheaper cross-border payments
3. Boosted by U.S. tariffs and stablecoin regulation momentum
Nigeria’s SEC is drafting rules for a Naira-backed stablecoin, anchored by reserves and audits, to expand use in trade and payments.
Stablecoins are set to be a pillar of Africa’s digital economy, with Nigeria positioned as the continental leader
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