Nigeria Leads Global Stablecoin Adoption in 2025, Second in Overall Digital Asset Use — Yellow Card Report
Nigeria has emerged as the global leader in stablecoin adoption, according to the newly released 2025 Report on the State of Digital Assets Regulation in Africa by Yellow Card. The report also ranks Nigeria as the second-highest country worldwide in overall digital asset usage, trailing only India. It attributes this leading position to the country’s increasing reliance on blockchain-based tools—especially USD-denominated stablecoins—for cross-border payments, hedging against currency devaluation, and gaining access to U.S. dollars amid ongoing economic challenges.
The report estimates that 25.9 million Nigerians are using digital assets, giving the country an 11.9% market penetration rate. Sub-Saharan Africa as a whole holds the world’s highest rate of stablecoin adoption at 9.3%, with Nigeria leading that trend. Yellow Card emphasizes that the widespread use of stablecoins across Africa is driven by persistent macroeconomic issues such as inflation, currency volatility, and expensive remittance systems. In this context, stablecoins are seen as both a necessity and a breakthrough for financial access.
Beyond Nigeria, nine other African nations made it into the top 50 globally for digital asset adoption, including Ethiopia, Morocco, Kenya, and South Africa. Even countries with bans or regulatory restrictions, like Egypt and Algeria, show significant user numbers, underscoring the growing grassroots momentum for digital financial tools. Notably, Morocco is expected to introduce a formal regulatory framework for digital assets by the end of 2025. Africa, as a whole, now counts over 54 million digital asset users.
The report also highlights a growing trend toward digital asset regulation across Africa. Governments are responding to the rising adoption with a variety of approaches, from regulatory sandboxes to fully enacted legislation for virtual asset service providers (VASPs). Some countries are cautiously experimenting with Central Bank Digital Currencies (CBDCs) as part of broader financial inclusion and economic resilience strategies, although these often lag behind more agile crypto innovations.
Looking ahead, Yellow Card suggests that clear regulatory policies will boost investor confidence, accelerate adoption, and attract more capital into the sector. The growing government engagement and international collaboration signal that digital assets are becoming a permanent fixture of Africa’s financial ecosystem. Ultimately, the report paints a picture of a continent where digital financial tools are not only surviving but thriving in response to real-world needs.
Source: Nairametrics