Stablecoins serve as a vital economic support in Nigeria and other emerging markets. Arthur Hayes asserts that nearly one-third of Nigeria’s GDP is transacted in USDT, highlighting stablecoins’ role in facilitating payments and serving communities often excluded from traditional banking.
The Nigerian government’s pro-crypto stance marks a shift in attitudes toward stablecoins. Initiatives to regulate stablecoins are being established, and conferences organized by the Africa Stablecoin Network are set to enhance adoption, signaling a significant growth outlook for stablecoins in Africa.
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