E-Business
Nigeria, South Africa Drive Stablecoin Spending in Africa
Africa has emerged as the global frontrunner in stablecoin adoption, with Nigeria and South Africa leading the charge with the fastest adoption rate, as transactions surge across the continent.
This is according to the Stablecoin Utility Report, compiled by YouGov on behalf of fintech firm BVNK.
The study, conducted in partnership with Coinbase and Artemis, surveyed over 4 600 early adopters and crypto-natives in 15 countries across five continents.
It shows people are turning to stablecoins to move money more quickly, securely and affordably – and how this shift in behaviour is becoming a worldwide trend beyond its roots in the Global South.
Stablecoin adoption is accelerating particularly rapidly across Africa in 2026, driven by currency volatility, high inflation and the need for cheaper, faster cross-border payments, it finds.
The Stablecoin Utility Report shows that 79% of African respondents hold stablecoins − the highest ownership rate globally − while 76% say they intend to acquire them in the near future.
Nigeria and SA lead the continent in everyday stablecoin spending, highlighting a shift from holding digital dollars as a store of value, to actively using them for commerce.
The appetite to be paid in stablecoins is even stronger: 95% expressed interest in receiving income via dollar-pegged digital assets, whether for salaries, freelance work or cross-border services, according to the study.
Anthony Yim, co-founder and CEO of crypto research firm Artemis, explains: “We’re experiencing a significant behavioural shift in the way people are using stablecoins.
“Crypto natives and early adopters are fully on board with stablecoins, using them to pay and be paid. This is driving mainstream, global adoption – stablecoin supply has increased 500% over the past five years. Alongside the passage of multiple legislation initiatives in numerous countries, it’s clear we’re experiencing a tipping point.”
From hedge to household spending
Unlike in some developed markets where stablecoins are viewed primarily as a payments upgrade, African users are deploying them as practical financial tools. Key use cases include hedging against inflation, facilitating remittances and funding day-to-day purchases.
The report finds that 92% of African respondents say the condition of their national economy directly affects their stablecoin usage − a reflection of currency volatility, capital controls and high remittance costs across several markets.
Africa also recorded the highest likelihood globally (89%) of users adopting stablecoin-linked debit cards, signalling demand for tighter integration between digital assets and traditional payments.
Infrastructure, not ideology
Taken together, the findings reinforce a broader thesis: stablecoins are evolving beyond a payment method into payments infrastructure, states the report.
For individuals, this means receiving income faster and at lower cost. For businesses, it enables borderless treasury operations and supplier payments. For financial platforms, it opens opportunities to embed stablecoin wallets, debit cards and cross-border settlement into core offerings.
This demand for institutional-grade integration is evident globally, with 77% of survey respondents saying they would open a stablecoin wallet if offered by their primary bank or fintech provider.
As adoption deepens in Africa and regulatory frameworks mature in developed markets, the data suggests stablecoins are no longer a niche crypto product − but a structural layer in the future of global money movement, notes BVNK.
Nigeria needs some 480,000 data protection officers (DPOs), to develop, implement, and oversee organizations’ data privacy strategy to ensure compliance with laws like the GDPR and the Nigeria Data Protection Act (NDPA).
Currently only about 10,000 individuals possess the necessary certification highlighting a major skills gap, according Vincent Olatunji, national commissioner, Nigeria Data Protection Commission (NDPC).
Olatunji spoke on Monday at the second edition of its Data Protection Officers training and certification programme in Abuja and Lagos.
He said that the NDPC has domesticated the certification of data protection officers (DPOs) to address the widening gap in certified DPOs, despite steady growth in the number of trained professionals over the past three years.
“At the moment, we have about 10,000 certified DPOs to work in that space. The gap of about 480,000 still exists,” he said.
The shortfall reflects rising demand for data privacy skills as more businesses, government agencies and digital platforms process personal data under the Nigeria Data Protection Act.
Olatunji said the number of certified DPOs has grown from fewer than 1,000 three years ago to over 10,000, while more than 27,000 professionals now operate within Nigeria’s wider data protection ecosystem.
He said the commission is scaling up training and certification efforts to close the gap and position Nigeria as a leading source of data protection talent in Africa.
“Our goal is to make Nigeria the go-to country when it comes to sourcing qualified data protection officers in Africa,” he said, adding that the certification meets global standards.
The NDPC said expanding the talent pool could also support job creation and strengthen trust in Nigeria’s digital economy.
Tolu Fadipe, head of research and development at the commission, said data protection is becoming critical as the country moves deeper into digital systems and emerging technologies.
“As we move towards a digital economy, data becomes central and protecting that data is essential,” she said.
Adeola Sopade, lead trainer, said participants in the programme would be trained on global best practices, including data protection principles, compliance requirements and handling user data requests.
The training also includes practical exposure and internships with organisations to improve job readiness.
Participants said the programme offers opportunities for young Nigerians to build careers in technology and prepare for emerging fields such as artificial intelligence.
Federal government has inaugurated the Electronic Pharmacy Regulation Platform (E-Pharmacy) to enhance the safety of online healthcare services.
Pic credit….healthreporters.info
The platform, championed by the Pharmacy Council of Nigeria (PCN), is designed to regulate digital pharmaceutical services and improve public health outcomes.
Inaugurating the platform, Prof. Ali Pate, coordinating minister of Health and Social Welfare, said the initiative signified Nigeria’s commitment to building a world-class regulatory environment.
Pate noted that pharmacy regulation had faced significant challenges for over three decades but expressed optimism that the new platform would strengthen oversight and accountability.
He said the initiative would enable evidence-based monitoring of pharmaceutical practices while supporting innovation and investment in the health sector.
“This launch is a testament to our collective commitment to advancing technology in the service of health, safety and human dignity.
“It is a decisive step to ensure that pharmaceutical practice in Nigeria aligns with national and global health priorities, reflecting the realities of the 21st century.
“It enables the country to adopt evidence-based approaches to monitoring and protecting public health while supporting innovation and investment,” he said.
The minister added that the platform would help establish a safe, accessible and well-regulated national e-pharmacy ecosystem driven by digital technology.
Earlier, Alhaji Ibrahim Ahmed, registrar/chief executive officer of PCN, said the need to regulate online pharmacy operations became more urgent during the COVID-19 pandemic.
Ahmed said the pandemic accelerated the adoption of digital tools and e-commerce in healthcare, exposing longstanding inefficiencies in pharmaceutical supply chains, particularly in Africa and Nigeria.
“This has led to the increasing adoption of digitised distribution of essential medicines through cost-effective and technology-enabled models.
“For decades, PCN has regulated pharmacy education, training, practice and business in Nigeria. However, as the world shifts towards digital solutions, access to medicines has evolved.
“The Electronic Pharmacy Regulations 2026 provide a comprehensive legal and technical framework for the registration, licensing, operation and oversight of digital pharmaceutical services,” he said.
He added that the framework would ensure that ethical standards and patient safety are not compromised in the delivery of online pharmaceutical services.
Olugbenga Agboola, CEO, Flutterwave, has announced plans to establish Anambra State as the company’s hub for Nigeria’s South East, leveraging a fresh banking license from the Central Bank of Nigeria (CBN) to boost local fintech and businesses.
Flutterwave
Agboola made the disclosure yesterday in Awka during a meeting with Anambra tech community leaders, hosted alongside Dr. Stanley Uzochukwu, CEO, Stanel Group and proprietor, Delborough Hotel.
He highlighted Flutterwave’s status as Africa’s leading payment system, born in Nigeria, with infrastructure powering companies nationwide.
“We want Anambra to be our hub for the entire South East,” Agboola said. “We’ll deploy our systems, fees, infrastructure, and POS terminals to every small business and large firm here, making our services the top consumer choice.”
Agboola pledged a massive impact program for Anambra entrepreneurs to foster global platforms from the state, enabled by the new license for faster growth.
For a decade, Flutterwave has facilitated payments, but now aims to empower South East businesses through partnerships, POS access, loans, and value for SMEs.
“We’re partnering on a huge impact program launching soon—impacting the tech community with technology, financing, and lending to create more millionaires from this city,” he added.
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