Nigeria leads Africa in stablecoin payments

Nigeria has emerged as the leading African nation for cross-border stablecoin payments, according to a recent IMF report. Since 2019, the country has accounted for 60% of stablecoin inflows in sub-Saharan Africa. This indicates a significant shift towards digital currencies for international transactions, easing long-standing payment challenges. The growth suggests that stablecoins are transitioning from a niche technology to a viable and increasingly important channel for cross-border commerce on the continent.