Africa is showing strong interest in stablecoin payments, but that demand has yet to translate into significant transaction volumes, according to a new report by cross-border payments company Kredete.
The report, State of Crypto in Emerging Markets 2026, highlights a gap between crypto ownership, interest in receiving payments through stablecoins and the actual use of digital dollars for everyday transactions. The findings point to an opportunity for payment providers to improve access to stablecoin services across emerging markets.
According to Kredete, 87% of Nigerian respondents in a survey by BVNK said they owned cryptocurrency or stablecoins, the highest share among the countries surveyed. The same survey found that 95% of African freelancers and marketplace sellers were interested in receiving payments in stablecoins.
However, Kredete estimates that Africa and Latin America together accounted for less than $1 billion in genuine stablecoin payments in 2025, highlighting the gap between potential demand and actual usage.
Stablecoin ownership has yet to translate into payments
The report distinguishes between owning crypto assets and using stablecoins to make or receive payments.
While ownership can indicate familiarity with digital assets, regular payment activity depends on whether users can easily receive funds, convert them into local currency and spend or transfer the money through accessible financial services.
Kredete argues that barriers such as difficulty accessing dollar accounts and the cost of international transfers are creating demand for alternatives. The company identifies stablecoins as one potential way to move digital dollars across borders at lower cost.
The report cites analysis from a16z crypto estimating that sending $200 through a traditional remittance service costs an average of $13.30, equivalent to 6.65% of the transfer. By comparison, transactions on networks such as Solana can cost less than one cent, although total costs depend on the service, network conditions and any conversion or withdrawal fees.
For users sending smaller amounts across borders, the difference in transaction costs could influence which payment channels they choose.
Africa attracts attention, but payment activity remains limited
Kredete’s report also examines the reach of its own content across emerging markets.
Between July 1 and September 6, 2026, the company says its content reached 1.007 billion unique people across 186 countries. Africa accounted for 443 million people, or 44% of the total, while Asia accounted for 496 million.
Kredete said the figures represent people who were shown its content, not customers, account holders, app downloads or completed transactions. The reach figures therefore indicate the scale of the company’s reported audience exposure rather than actual adoption of its payment services.
The report places this audience reach against a broader stablecoin market that it estimates had $308 billion in supply in August 2026. It also cites adjusted stablecoin transfer volume of approximately $4.5 trillion in the first quarter of 2026, excluding activity such as trading, bot transactions, treasury movements and exchange flows.
Despite the market’s expansion, Kredete says genuine stablecoin payment activity remains concentrated in other regions, with Asia’s financial hubs and North America accounting for most of the estimated activity in 2025.
Payment infrastructure could determine the next phase
For stablecoin providers, the findings suggest that awareness and ownership alone may not be enough to drive adoption. Users also need reliable ways to receive payments, convert funds and move money into the financial services they already use.
Kredete expects local wallets to increasingly connect to blockchain networks, regulation around receiving stablecoin payments to develop, and remittance pricing to face greater pressure over the next 12 months. These are the company’s forecasts rather than confirmed outcomes.
Adeola Adedewe, Kredete’s founder and chief executive, argues that the next stage of adoption will depend on making stablecoin payments accessible through familiar wallets and affordable for smaller transfers.
“The next billion users are not waiting to be convinced that digital dollars are useful; they are waiting for a rail that reaches the wallet they already have, at a price that makes small amounts worth sending,” Adedewe said.
The report draws on Kredete’s campaign analytics and third-party research from organisations including a16z crypto, Chainalysis, BVNK and FXC Intelligence. Kredete notes that the third-party figures included in the report have not been independently verified.
For Africa’s fintech sector, the central question is whether growing interest in stablecoins can translate into practical payment services that people and businesses use regularly, rather than remaining primarily an ownership or investment trend.
Techmoni Africa tracks the Fintech, Web3, and Forex stories defining Nigeria, Kenya, and Ghana. We also run press distribution for Fintech and crypto brands across Africa. Have a story that deserves attention? Reach our editorial team at info@techmoniafrica.co
