Unveiling Astronomical Returns: CNGN Facilitates Short-Term Nigerian Debt Repayment with a staggering 21% yield
The digital landscape of Africa is witnessing a significant shift, with stablecoins playing a pivotal role in shaping its future. This transformation is set to unfold at the Mariblock OnChain conference, taking place on September 10-11, 2025, at the Eko Convention Center in Lagos, Nigeria, in partnership with Busha. The theme, "The Next Wave," will delve into stablecoins, payments, FX, tokenized real-world assets, regulation, blockchain use cases, and the continent's growing talent pipeline.
Stablecoins, digital assets pegged to traditional currencies or commodities, are rapidly gaining traction in Africa, accounting for 43% of Sub-Saharan Africa’s transaction volume. This growth is particularly evident in Nigeria, where stablecoins represent about 40% of all inflows, making them a dominant force in retail payments and remittances. Ethiopia, on the other hand, is witnessing a staggering 180% year-over-year growth in stablecoin transactions, primarily due to retail-sized transfers.
International investors can swap USDT for cNGN through Asset Chain, a decentralized exchange, while Tether plans to co-host educational events with eGaz to raise awareness around digital assets. Tether will also support local institutions in integrating blockchain content into school curricula and offer stablecoin access through ZanMalipo.
Xend Finance, a decentralized finance platform, is actively promoting financial inclusion in Africa by providing access to savings and yield farming options in stablecoins. Although specific initiatives were not detailed, Xend Finance's focus on stablecoin-based products aligns with the growing stablecoin adoption on the continent.
Luno, a crypto exchange with a strong presence in Africa, supports stablecoin trading and facilitates crypto payments, helping to bridge traditional finance and crypto adoption. While specific initiatives are not listed, Luno’s platform supports the broad trend of cryptocurrency and stablecoin transactions in the region.
Africa leads globally with a 9.3% stablecoin adoption rate and has over 54 million digital asset users, underlining a significant acceptance of digital assets beyond just Bitcoin to include stablecoins. Stablecoin adoption is often linked to addressing economic challenges such as inflation, remittance costs, and payment inefficiencies, which are prevalent in many African economies.
Tether, the largest and most widely used stablecoin globally, plays a critical role in African markets, especially Nigeria and South Africa. Although specific corporate initiatives were not detailed, Tether’s presence is implied by the dominant stablecoin usage and inflows in these countries.
As the digital economy of Africa continues to evolve, it's clear that stablecoins are becoming fundamental to its growth. Companies like Tether provide the backbone stablecoin infrastructure, while platforms such as Xend Finance and Luno facilitate practical usage, savings, and trading, contributing to the continent’s growing digital asset ecosystem.
The speaker lineup and tickets for the Mariblock OnChain conference will go live in July. Meanwhile, South Africa's first NFT marketplace, Momint, has shut down amid market pressures. In other news, Tether has signed similar MoUs with the governments of Guinea and partnered with regional crypto players like Quidax and NODO to expand education and access to digital assets. Luno has re-entered the Kenyan market after a decade-long hiatus and allows users to swap Kenyan shillings for a host of cryptocurrencies directly on the platform. Kenya has also scrapped a 3% digital asset tax after efforts from crypto lobbyists.
- The digital assets landscape in Africa is experiencing a pronounced shift, with stablecoins taking center stage, accounting for 43% of Sub-Saharan Africa’s transaction volume.
- In Nigeria, stablecoins account for about 40% of all inflows and dominate retail payments and remittances, while Ethiopia is witnessing a year-over-year growth of 180% in stablecoin transactions.
- International investors can swap USDT for cNGN through Asset Chain, with Tether planning to co-host educational events to raise awareness around digital assets.
- Xend Finance, a decentralized finance platform, is promoting financial inclusion in Africa through stablecoin-based savings and yield farming options, aligning with the growing stablecoin adoption.
- Luno, a crypto exchange with a strong African presence, supports stablecoin trading and crypto payments, bridging traditional finance and crypto adoption.
- Africa leads globally with a 9.3% stablecoin adoption rate and has over 54 million digital asset users, addressing economic challenges such as inflation, remittance costs, and payment inefficiencies.
- Tether, the largest stablecoin globally, plays a critical role in African markets, particularly in Nigeria and South Africa, though specific corporate initiatives have not been detailed.
- As the digital economy of Africa evolves, companies like Tether and platforms such as Xend Finance and Luno form the backbone infrastructure and practical usage for stablecoins, contributing to the continent’s growing digital asset ecosystem.
