Stablecoins hit $35B in volumes as Egypt, Nigeria, and Argentina face currency collapse, inflation, and dollar shortages.
Stablecoin adoption has surged past $35 billion in transaction volumes as Egypt, Nigeria, and Argentina grapple with devastating USD crises, hyperinflation, and currency devaluation. Citizens are increasingly turning to digital dollars for savings, salaries, and payments as traditional banking systems falter.
In Argentina, where inflation has soared to 140 percent, stablecoin usage now equals $11 billion annually—nearly 3 percent of the nation’s M1 money supply. Apps like Lemon Cash allow salaries and rent to be paid in USDT despite regulatory pressure.
Nigeria records $24 billion yearly in stablecoin flows, much of it through underground P2P markets after government bans, as the naira continues to weaken. Stablecoins are also fueling remittances and commerce.
Turkey has seen $63 billion in annual transfers, representing 3.7 percent of GDP, with merchants widely accepting USDT as a hedge against lira depreciation.
With USDT leading at a $107 billion market cap and USDC at $45 billion, stablecoins have become essential infrastructure across emerging markets, bridging purchasing power gaps and offering financial stability where local currencies cannot.
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