Stablecoins make up 43% of Africa’s ‘crypto’ transactions in 2024
04 Sept 2025 · 05:00 UTC · CoinGeek RSS Feed · Original source
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Summary
Yellow Card reported that Nigeria was the dominant market with over $22B in value, with the highest growth recorded in Kenya, Zambia, and Ethiopia.
Why it matters
As stablecoins represent a larger share of transactions, they may act as a bridge for new users to enter the crypto market, particularly in emerging economies. The reported dominance of stablecoins can enhance liquidity and reduce volatility, indirectly leading to increased adoption of cryptocurrencies like Bitcoin and altcoins. However, the overall reliance on stablecoins could pose risks with market fluctuations and regulatory developments.
Expected impact
The growth of stablecoins in Africa is expected to create a more favorable environment for cryptocurrency transactions. With significant engagement from countries like Nigeria, Kenya, and Zambia, we may see an increase in local trading volumes and possibly a positive sentiment towards Bitcoin and altcoins.