Stablecoins are getting more popular in Africa amid rapid global digitalization and geopolitical tensions, with Nigeria and South Africa recognized as the strongest growth engines for these assets in the region, according to a survey released by global fintech firm BVNK.
Data from the Stablecoin Utility Report 2026 showed that Africa registered the highest stablecoin ownership among the seven regions at 79% and the strongest forward intent to acquire them at 76%. There is also growing interest among Africans, particularly in Nigeria, to be paid in stablecoins rather than fiat for their work, a similar trend seen in the Asia-Pacific region.
The report was compiled in partnership with market research services YouGov, digital currency exchange Coinbase (NASDAQ: COIN), and data analytics platform Artemis, and included responses from over 4,650 respondents across 15 countries. Polled participants were either digital asset holders or those who plan to hold digital currencies.
In Africa, Nigeria and South Africa are the frontrunners in stablecoin adoption, with nearly 80% of respondents in both countries reportedly holding stablecoins, while more than 77% are looking to acquire more in the coming year. These figures are expected to balloon in the coming years following South Africa’s launch of its own ZARU, a stablecoin pegged to the South African rand, highlighting the country’s push to integrate blockchain in its finance sector.
Interest in stablecoins is also gathering steam in low- and middle-income economies, with 60% disclosing to holding stablecoins, as compared to high-income countries (45%).
BVNK co-founder Chris Harmse said the growing number of stablecoin holders and those looking to acquire them is a testament to the rising demand for faster, cheaper, and more reliable payment tools in the digital era.
But while stablecoins are being rapidly adopted globally, their use remains primarily in crypto trading, with only about 6% being used to pay for goods and services.
Stablecoins pegged to the U.S. dollar still dominate the industry, with Tether leading the sector with a valuation of about $185 billion, while USDC trails behind with roughly $75 billion.
Industry experts believe that the passage of Washington’s GENIUS Act and Europe’s Markets in Crypto-Assets (MiCA) regulation will serve as a foundational framework for future policies, guiding other countries in developing regulations that will better suit the evolving digital asset market.
As of February 2026, the stablecoin market capitalization has breached the $300-billion mark.
Watch: The quiet rise of blockchain in mainstream finance
Source: https://coingeek.com/nigeria-south-africa-power-africa-stablecoin-surge-poll/
