Stablecoins are expected to play a leading role in Nigerian business transactions within the next one to three years, according to Zabira Technologies, a digital assets exchange platform. The company made this projection during a press briefing in Lagos as part of its official brand relaunch.
Head of Marketing and Communications at Zabira, Mr. Ike Ekemah, said that stablecoins would soon become a mainstream financial tool for Nigerian businesses, particularly those seeking alternatives to slow and costly cross-border payments. He explained that companies involved in import and export are already facing foreign exchange challenges and rising transaction costs, making stablecoins a practical solution.
“We’ll see a surge of businesses, especially around the import-export sector, invest heavily in stablecoins because it reduces turnaround times for payments, it reduces hassles, human fees and whatnot,” Ekemah said.
Stablecoins, unlike volatile cryptocurrencies such as Bitcoin or Ethereum, are tied to fiat currencies like the U.S. dollar, making them less risky and more reliable for day-to-day transactions. Ekemah added that this stability makes them attractive for businesses and individuals who want to move funds quickly without losing value to fluctuations.
He noted that freelancers, e-commerce operators, and logistics firms are already using stablecoins to receive international payments. For example, a Nigerian freelancer working with an international client may be unable to receive payment in naira, but the client can pay in stablecoins. Through platforms like Zabira, these stablecoins can then be instantly converted to naira, ensuring seamless integration into everyday business operations. Although most Nigerian merchants are yet to accept direct crypto payments, Ekemah predicted that adoption will expand quickly, just as mobile money transfers became widely used at grassroots levels.
Head of Sales and Business Development at Zabira, Mr. Stanley Emmanuel, also spoke at the event. He highlighted global regulatory progress as a major factor driving crypto adoption. Emmanuel referred to the “Ingenious Act” in the United States, which formally recognized cryptocurrencies in a legal framework, encouraging businesses and investors to take them seriously.
He explained that similar moves are being made in Africa, with countries such as Rwanda, South Africa, Kenya, and Morocco adopting friendlier policies toward crypto payments. According to him, Nigerian regulators have also shown signs of softening their stance, as recent policy communications suggest a growing recognition of the digital assets industry. Emmanuel argued that these developments will help boost investor confidence and accelerate adoption across the country.
Speaking on Zabira’s rebrand, Founder and Chief Executive Officer, Mr. Isaac John, said the company, which was founded in 2019 as a simple wallet solution, has now grown into a full digital payments and asset exchange platform. He explained that Zabira enables individuals and businesses to acquire, store, swap, and grow their digital assets with ease. The rebrand, he said, represents a renewed focus on trust, accessibility, and clarity, reflecting the company’s ambition to become Africa’s most reliable digital asset hub.
“Our mission has always been about making digital assets simple and trustworthy for everyday users. This rebrand is a commitment to ensuring Nigerians and Africans can transact confidently in the digital economy,” John stated.
Recent data supports Zabira’s outlook on stablecoins in Nigeria. A report titled Stablecoin Adoption in Emerging Markets revealed that Nigeria has become Africa’s largest stablecoin market, recording nearly $22 billion in stablecoin transactions between July 2023 and June 2024. The report also noted that stablecoins account for 43 percent of all crypto transaction volumes in Sub-Saharan Africa, underscoring their growing role in the region’s financial system.
The combination of rising FX challenges, growing digital adoption, and improving regulatory clarity is expected to push stablecoins further into Nigeria’s financial mainstream. For businesses looking for faster payments and cost efficiency, stablecoins are increasingly becoming the tool of choice.
With platforms like Zabira positioning themselves as bridges between traditional finance and the digital economy, industry observers believe Nigeria could soon lead Africa in adopting stablecoins for trade, commerce, and investment.
