Stablecoins in Africa Gain Momentum Across Fintech Sector
Kenya Blockchain and Crypto Conference in Nairobi brought together fintech leaders, regulators, and blockchain experts to discuss the future of stablecoins in Africa and their role in reshaping cross-border payments.
The fourth edition of the conference focused on how stablecoins in Africa could reduce transaction costs, improve settlement speed, and strengthen digital trade across multiple markets. However, participants also stressed that regulation must support innovation while ensuring compliance.
Stablecoins in Africa Could Transform Cross-Border Payments
Event organiser Sheila Waswa said stablecoins in Africa could solve long-standing inefficiencies in cross-border payments. She noted that current systems are often slow, expensive, and fragmented.
“One of the issues we’ve been grappling with… is how expensive, unreliable and slow it is to move money,” she said. “Sometimes it can take up to two weeks.”
She added that stablecoins in Africa could significantly reduce these delays by enabling faster settlement and more efficient payment rails. However, she emphasised that awareness and infrastructure gaps still exist.
Fintech Leaders Highlight Adoption and Knowledge Gaps
Industry experts said stablecoins in Africa are already being used in remittances, treasury operations, and international settlements. However, adoption remains at an early stage.
Apollo Sande said many businesses still rely on traditional cross-border systems that involve multiple intermediaries and higher fees.
“As far as cross-border payments are concerned, we’ve always depended on systems with multiple hops that take fees along the way,” he said. “Stablecoins can address that, but there is still a significant knowledge gap.”
He explained that many importers and manufacturers still lack clear guidance on how to integrate stablecoin solutions into compliant financial systems.
Experts Call Stablecoins the Next Phase of Digital Payments
Financial technology expert Kevin Kegima described stablecoins in Africa as the “next level” of payment innovation. He said they could improve efficiency for both SMEs and large enterprises operating across global markets.
In addition, speakers noted that stablecoins could strengthen liquidity management and reduce settlement delays for businesses engaged in international trade.
Kenya Moves Toward Clear Crypto Regulation
The conference also highlighted Kenya’s ambition to position itself as a leading blockchain hub in Africa.
Nairobi International Financial Centre Authority CEO Daniel Mainda said the government is developing regulations for virtual asset service providers. This process is being done in collaboration with the Central Bank of Kenya and the Capital Markets Authority Kenya.
He said Nairobi aims to attract global fintech and blockchain companies while maintaining fair and transparent regulatory standards.
“We want Nairobi to become the home of technology and startups on the continent,” he said.
Outlook for Stablecoins in Africa
Stakeholders at the conference expressed optimism that clearer regulation and stronger collaboration between governments and fintech firms could accelerate the adoption of stablecoins in Africa.
They also agreed that stablecoins could become a key pillar of the continent’s evolving digital payments ecosystem, especially for cross-border trade and remittances.
