Stablecoin inflows in selected African nations highlight the growing role of this type of digital currency—which is tied to a real-world asset like the US dollar—in the continent's financial landscape.
The inflows represent the amount of stablecoins transferred, exchanged, or platformed over a period.
Nigeria leads the way by a large margin, having recorded $21.8 billion in stablecoin inflows. South Africa follows as the second-largest recipient with $13.5 billion. Further down the list, Ghana registered $3.9 billion.
Kenya is a significant participant, having received $3.3 billion in stablecoins, which is equivalent to Sh444.64 billion. Other countries included in the analysis show smaller, yet notable, inflows: Zambia at $2.2 billion, Ethiopia at $2 billion, and Uganda, concluding the group with $0.7 billion.
This data, sourced from the International Monetary Fund, suggests a deepening integration of cryptocurrency into major African economies.
