Global payments giant Visa says stablecoins could become an important part of Africa’s financial system as digital payments continue to grow rapidly across the continent.
Speaking at the Africa CEO Forum in Kigali on May 15, Visa’s Head of South and East Africa, Michael Berner, said Africa’s payments market is evolving faster than almost anywhere else in the world.
“The speed and pace at which digital payments are growing in Africa is unprecedented,” Berner said. “In two or three years, we would not recognise some of the realities we face now.”
His comments come as mobile money usage across Africa continues to expand. According to the GSMA State of the Industry Report on Mobile Money 2026, mobile money transactions globally reached $2 trillion in 2025. Sub-Saharan Africa accounted for $1.4 trillion of that figure, representing about 66% of global transaction value.
Visa is currently four years into its $1 billion investment commitment to Africa, a strategy focused on expanding financial inclusion, improving payments infrastructure, and supporting fintech innovation across the continent.
One of the company’s biggest investments so far has been the opening of its first African data centre in Johannesburg in July 2025. According to Berner, the facility represents Visa’s long-term commitment to the continent and its growing digital economy.
The rise of stablecoins and blockchain-based payments is now becoming an important part of that strategy.
Berner said stablecoins, which are digital currencies tied to traditional assets like the US dollar, could become “pretty big” for Africa’s payments ecosystem. He revealed that Visa is preparing pilot programmes involving crypto-based settlements between banks and Visa.
“There is also big interest in crypto-based settlements between banks and Visa, or between banks directly,” he said. “Some pilots will be coming up very, very soon.”
The comments reflect a wider shift already taking place across Africa’s fintech sector.
In October 2025, Nigerian fintech unicorn Flutterwave partnered with Polygon to support stablecoin-powered cross-border payments. More recently, Tether announced an investment in Nigerian-founded remittance startup LemFi.
Africa’s growing interest in stablecoins is largely tied to the continent’s payment challenges. Businesses and consumers still face high transaction costs, slow cross-border transfers, currency volatility, and limited access to traditional banking infrastructure in many markets.
Stablecoins are increasingly being explored as a way to move money faster and more cheaply across borders while reducing dependence on fragmented banking systems.
At the same time, African governments and central banks are pushing to build domestic payment infrastructure and sovereign payment systems. Some regulators are also becoming more cautious about the rapid growth of crypto-related services.
Berner said Visa supports governments’ efforts to strengthen payment sovereignty and remains open to working with regulators and local financial institutions.
“We highly respect the decisions made by governments and central banks,” he said. “We are always happy to partner and provide our technology to meet government needs.”
Beyond crypto, Visa says it is also focusing on supporting small businesses, banks, and fintech startups by helping them expand digital payment access and financial services.
Berner noted that younger consumers across Africa increasingly expect payments to happen instantly and digitally, without relying on cash or physical banking infrastructure.
“The new generation doesn’t expect to go and find an ATM,” he said. “They expect payments to happen seamlessly.”
Visa believes Africa’s combination of rapid smartphone adoption, growing mobile money usage, and a young digital-first population could make the continent one of the world’s fastest-growing digital payments markets over the next decade.
