Nigeria and South Africa drive global stablecoin demand surge, study finds

Summary

A global survey released on Feb. 18, 2026, identifies Nigeria and South Africa among the leading markets for stablecoin adoption. The findings suggest usage is moving beyond savings and hedging toward everyday payments, with strong interest in receiving income in digital currencies.

Strong momentum in emerging markets

A study conducted by YouGov on behalf of fintech firm BVNK, surveying more than 4,600 respondents across 15 countries, indicates stablecoins are increasingly being used as practical financial tools rather than speculative assets.

• Market leadership: Nigeria and South Africa recorded some of the highest ownership levels among surveyed markets.
• Rising usage: Many current holders said they expect to increase their use of stablecoins in 2026.
• India demand: The report also highlighted growing interest in India, particularly for cross-border payments and freelance income transfers.

Why users are turning to stablecoins: the income shift

The survey points to a growing willingness among users to receive payments in stablecoins.

• Income flexibility: Many respondents, especially in African markets, said they would consider receiving part of their salary or freelance income in digital dollars.
• Cost efficiency: Lower transaction fees and faster settlement times were cited as major benefits.
• Inflation protection: In countries facing currency volatility, respondents linked stablecoin usage to macroeconomic conditions.

Toward institutional integration

The study highlights a gap between consumer demand and traditional financial infrastructure.

• Bank involvement: A significant share of respondents said they would be more likely to use stablecoins if offered by regulated banks or fintech providers.
• Payments ecosystem: Interest in stablecoin-linked debit cards and merchant acceptance remains high, signaling demand for real-world usability.

Policy and market implications

Growing adoption is prompting increased attention from regulators and financial institutions.

Authorities in several markets are assessing how to support innovation while managing risks such as consumer protection, financial stability, and currency substitution. Meanwhile, private-sector initiatives are exploring local-currency-pegged digital assets and payment integrations.

Why this matters

The shift toward stablecoins as payment tools underscores how digital assets are increasingly addressing real-world financial needs such as remittance costs, inflation hedging, and faster settlements.

For policymakers, the trend raises questions about monetary sovereignty and regulation. For banks and fintech firms, it signals rising demand for compliant digital currency products that integrate seamlessly with existing payment systems.

FAQs

Q1: What is the key takeaway from the report?

Stablecoins are increasingly being used for payments and savings in emerging markets rather than only for trading.

Q2: Why are Nigeria and South Africa leading adoption?

Factors include high digital payment usage, cross-border transaction needs, and currency volatility.

Q3: Are regulators supportive of stablecoins?

Most regulators are cautious, focusing on oversight, consumer protection, and financial stability risks.