The inaugural edition of the Africa Stablecoin Summit 2025, powered by Binance, the world’s largest cryptocurrency exchange by trading volume and registered users, and supported by Tether, the largest company in the digital asset industry, VISA, and Telcoin, successfully brought together more than 300 high-level leaders from across Africa and beyond to explore how stablecoins can strengthen the continent’s financial systems, trade, and economic resilience ahead of the all important G-20 Summit.
Larry Cooke, Africa Head of Legal, Binance, said; “Stablecoins are more than a technological innovation—they are a pathway to inclusive, cross-border financial systems that can empower businesses and individuals across Africa. At Binance, we are committed to fostering responsible innovation, collaborating with regulators, and investing in solutions that enable Africans to participate fully in the digital economy.”
The two-day summit, themed “Harnessing Stablecoins for Africa’s Economic Resilience,” convened central banks, regulators, commercial banks, fintech innovators, stablecoin issuers, development partners, and blockchain infrastructure firms. Attendees included representatives from the governments and central banks of Kenya, Ghana, Nigeria, Uganda, Zambia, and South Africa, alongside delegates from the United Nations, Pan-African Payment and Settlement System (PAPSS), the International Monetary Fund (IMF), and other leading ecosystem stakeholders.
According to an industry report by Yellow Card, Nigeria is the continent’s largest stablecoin market, recorded nearly USD 22 billion in transactions between July 2023 and June 2024. Recent data in this sector further underscores the fast-growing role of stablecoins in Africa’s digital economy. Stablecoins accounted for 43% of crypto transaction volume in Sub-Saharan Africa in 2024.
Shahebaz Khan, Senior Vice President, Head of Commercial and Money Movement Solutions CEMEA at Visa said;
“Visa’s global network has long been the engine for how the world pays and gets paid. As money itself evolves, we’re extending that same trusted infrastructure to the next frontier: stablecoins. By pairing stablecoins with Visa’s world-class technology stack, we see tremendous potential to modernize global money movement – making payments faster, more accessible, and more secure for everyone. Whether it’s seamless remittances for consumers or enhanced liquidity for businesses, Visa is committed to bridging new digital currencies with our trusted network, turning innovation into everyday value. “
A blog by the Center for Global Development further notes that stablecoins already represent about 6.7% of GDP in Africa and the Middle East in terms of international stablecoin flows in 2024. With over USD 300 billion in stablecoin transactions estimated to be flowing through African markets annually, the summit spotlighted their transformative potential in addressing currency volatility, fragmented payment systems, and high remittance costs.
The agenda featured keynotes from global and African financial leaders, including Larry Cooke (Africa Head of Legal, Binance), who officially opened the summit, alongside Saruni Maina, (Regional Operations Lead – Africa), Shahebaz Khan (Senior Vice President, Head of Commercial and Money Movement Solutions, VISA CEMEA), and Hon. Kimani Kuria (Chairperson, Finance and National Planning Committee, Kenya National Assembly)
The various impactful sessions, which ended this afternoon, covered regulation, interoperability, infrastructure, and real-world adoption across fintech and enterprise. There is a growing optimism and agreement among stakeholders that the conversation on the different aspects of stable coin needs to continue as this is a fast-evolving arena with implications for all involved. This is even more important in the context of the African Continental Free Trade Area, a comprehensive accord between the 55 member states of the African Union to create a single continental market for goods and services.
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Author: Mehlokazulu Ngobese from Gqamisa Communications on behalf of Africa Stable Coin Summit.
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