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.
The release of the report comes as a consortium of South African financial and fintech firms introduced ZAR Universal (ZARU), an institutional-grade stablecoin pegged to the South African Rand.
According to a statement, ZARU aims to modernise payments and financial infrastructure, allowing retail and institutional users to transact at internet speed, while strengthening the local financial system.
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.
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