At the inaugural Africa Stablecoin Summit held at Lagos Oriental Hotel, leaders across blockchain, fintech, and regulatory sectors tackled a central question confronting the continent’s digital economy: Why hasn’t crypto-enabled remittance gone mainstream in Africa?
During a pointed panel session titled “Barriers Around Stablecoin Infrastructure: Why Crypto-Enabled Remittance is Not Yet Mainstream in Africa,” speakers dissected the multilayered obstacles limiting stablecoin adoption ,from regulatory gridlock to infrastructure fragmentation and misaligned public messaging.
The consensus among panelists was sobering but honest: Africa’s stablecoin problem isn’t about the underlying technology. It’s about the broken or missing systems surrounding it. In other words, the problem is structural.
Tech is ready. The system is not
Despite the potential for stablecoins to offer faster, cheaper, and more transparent cross-border transactions, adoption across the continent remains far from widespread. Panelists described how, in many cases, users still have to revert to traditional, slower financial methods to complete everyday transfers ,not due to a lack of digital tools, but because those tools simply aren’t interoperable with the local financial ecosystem.
While stablecoins are theoretically built for peer-to-peer transactions without intermediaries, the current reality in African markets tells a different story. Sending money from the UK to Nigeria, for example, is still fraught with regulatory red tape, exchange limitations, and banking friction. Many users find themselves relying on informal agents or unregulated platforms just to make basic transfers, undercutting the very benefits stablecoins are supposed to deliver.
Several panelists underscored that regulatory uncertainty is the primary bottleneck. Without frameworks that recognize stablecoins as legitimate financial instruments, startups are left operating in grey areas , unable to secure reliable banking partners, access liquidity, or plug into national payment rails. As a result, many African crypto firms are forced to build parallel infrastructure from scratch, developing their own compliance pipelines, liquidity layers, and sometimes even fiat bridges , a costly and inefficient approach that slows innovation.
There is also a perception problem that continues to hinder adoption. Stablecoins, like other digital assets, were often introduced in Africa as speculative investments rather than functional currencies. This framing ,which promised profits rather than utility ,left users with an incomplete understanding of the asset class. To many, stablecoins remain part of the “crypto bubble,” rather than a tool to simplify daily financial interactions such as remittances, business payments, or savings.
Panelists stressed the urgent need to reframe how stablecoins are introduced and marketed across African markets. Users don’t treat local currencies as investments ,they treat them as money to use. Until stablecoins are positioned similarly, adoption will remain confined to tech-savvy users, sidelining the broader population who stand to benefit the most.
One panelist noted that even in communities where stablecoin awareness is high, usage remains limited due to skepticism and lack of clear on-ramps. In regions with no regulation and no banking integration, stablecoins are seen as risky, difficult to cash out, or simply too complicated to engage with. And even when users are open to experimenting with blockchain-based tools, they often face high learning curves ,both in understanding the products and navigating the fragmented systems behind them.
The conversation inevitably turned to a longstanding debate: Should education come before regulation, or vice versa?
While some argued that regulatory clarity is a prerequisite for mass adoption, others pushed back, stating that education is what builds demand ,and demand drives policy. Ultimately, the panel settled on the need for a parallel strategy. Builders must simplify their products and demystify usage for the average user, while regulators must create clear, adaptive frameworks that don’t stifle innovation.
Panelists also called for stronger collaboration between stakeholders across the ecosystem , developers, banks, educators, and policymakers ,to ensure that Africa doesn’t just import blockchain innovation, but adapts and deploys it in ways that solve local problems. It was clear from the discussion that isolated efforts won’t move the needle. Only coordinated action across sectors will create the infrastructure, liquidity, and public trust required for stablecoins to scale.
As the summit continued with technical workshops and founder showcases, this session stood out as a crucial moment of clarity. It cut through the noise and hype, laying bare the barriers that still prevent stablecoins from delivering their full value to African users.
For all the promise blockchain holds, the message from this panel was clear: Africa doesn’t need more apps or tokens, it needs structure. Regulation, education, and infrastructure are not optional luxuries ,they are the foundation. Until those pillars are solid, stablecoins will remain an exciting concept, rather than a transformative force in Africa’s financial story.
