Stablecoins make up 43% of Sub-Saharan Africa’s crypto transactions in 2024
- Corporate transactions involving stablecoins are projected to grow by 25% in 2024.
- Stablecoins accounted for 43% of total crypto transaction volume in Sub-Saharan Africa in 2024.
- Nigeria processed nearly $22 billion in stablecoin transactions from July 2023 to June 2024.
The rapid adoption of stablecoins in Africa highlights a significant shift in how businesses manage financial operations in a volatile economic landscape. While traditional banks are lagging due to regulatory concerns, fintechs are seizing the opportunity to innovate and provide essential services. This trend could lead to a more inclusive financial ecosystem, but it also raises questions about regulatory frameworks and the future role of banks in this evolving landscape.
