Why Stablecoins Could Redefine Africa’s Financial Future

As stablecoins redefine the financial landscape across Africa, their rise tells a story not of trend-chasing but of resilience. Entrepreneurs in Dar es Salaam are safeguarding earnings against inflation, traders in Nairobi are navigating banking inefficiencies, and freelancers in Accra are receiving payments in seconds rather than days.

2025 has highlighted a deeper truth: Africa’s engagement with digital currencies is driven by necessity and practical economic needs, not novelty. Yet, as adoption grows, so does the conversation on how to maintain monetary sovereignty in a world where digital dollars move faster than local currencies can respond.

At the Africa Fintech Summit 2025 in Accra, Ghana, Binance Regional Operations Lead Saruni Maina joined policymakers and innovators on the panel “Stablecoins, Sovereignty & Interoperability: Africa’s Digital Currency Dilemma.” Chainalysis data shows that over $54 billion in stablecoin transactions were recorded in Sub-Saharan Africa between July 2023 and June 2024, accounting for 43 per cent of the region’s crypto activity. The discussion came at a critical moment.

Saruni shares Binance’s perspective on balancing innovation with regulation, supporting user education, and ensuring Africa’s digital finance future is both globally connected and locally relevant.

1: Saruni, what were some of your key takeaways from the panel on Stablecoins, Sovereignty & Interoperability?

What stood out is that Africa’s relationship with stablecoins has never been about hype; it’s about necessity. Across Kenya, Ghana, and South Africa, stablecoins support traders, remote workers, and small businesses navigating currency instability and remittance delays. Adoption is organic and driven by real economic needs. It’s not about speculation; it’s about inclusion and resilience.

The second major takeaway is that the conversation is shifting from “how do we use stablecoins?” to “how do we regulate and integrate them responsibly?” Sovereignty matters, and countries are right to be cautious about over-dependence on dollar-backed assets. The way forward is thoughtful regulation, public-private collaboration, and local innovation. Africa’s stablecoin story should empower, not replace, local financial systems.

2: Stablecoins are increasingly linked to the risk of dollarization. How can African policymakers navigate this challenge while maintaining financial sovereignty?

Dollarization is a valid concern, especially when global stablecoins dominate transaction volumes. The solution isn’t to restrict innovation; it’s to guide it. Policymakers can set clear rules on issuance, reserves, and conversion limits, and encourage local-currency stablecoins backed by trusted reserves under domestic regulation.

Collaboration is key. By partnering with regulators, we can strengthen KYC standards, enhance transparency, and support local pilots that allow policymakers to observe real-world impacts before scaling. This builds confidence and ensures stablecoins complement, rather than undermine, monetary systems.

3: Interoperability is a buzzword in digital currency conversations. How do you see global and African-currency stablecoins working together?

Interoperability, when done right, creates harmony rather than competition. Global stablecoins can serve as efficient bridges for cross-border trade and remittances, while African-currency stablecoins maintain local liquidity and autonomy. Together, they can create a multi-layered financial ecosystem that works across currencies and jurisdictions.

For Binance users, this means faster transactions, predictable costs, and less friction. For regulators and exchanges, it allows smoother liquidity management, clearer transaction visibility, and reduced FX volatility. The goal is a digital currency environment that’s inclusive, auditable, and locally relevant.

4: You’ve observed stablecoin adoption in multiple markets. What global best practices could work well in Africa?

Dollar-backed stablecoins have been transformative in cross-border remittances and trade settlements, particularly in markets with outdated or costly banking systems. Asia and Latin America provide examples where small merchants receive international payments in minutes rather than days.

In Africa, a hybrid model works best: global stablecoins for regional and international transactions, and local-currency tokens or CBDCs for domestic circulation. This enables borderless liquidity while preserving local monetary policy. Binance supports this balance by helping build secure on- and off-ramps for faster, compliant payments.

5: The US GENIUS Act has been a game-changer for stablecoin regulation. Could it inspire similar frameworks in Africa?

The GENIUS Act provides clarity on reserve management, audits, and issuance—elements that are critical for building confidence in stablecoins. African regulators are observing these global frameworks closely, but the goal isn’t to copy them directly.

Instead, Africa has the opportunity to develop its own context-specific approach—one that harmonizes standards across the continent, encourages innovation, supports compliant stablecoin issuance, and prioritizes local participation. The focus should be on creating a framework that preserves financial sovereignty while enabling practical and safe adoption of digital currencies.

6: Africa processed over $54 billion in stablecoin transactions in a year. What does that tell us about user behavior on the continent?

That figure speaks volumes. Africans are practical innovators. Most of these users aren’t traders or speculators; they’re ordinary people seeking reliable financial tools. Freelancers are using stablecoins to get paid in minutes, cross-border traders are reducing remittance costs, and small business owners are safeguarding value amid currency fluctuations. Stablecoins are helping people participate in the global economy, often for the very first time.

This behavior tells us that financial inclusion doesn’t have to wait for perfect systems. People will always find alternatives when traditional methods fail them. Binance sees this as validation that crypto is not a trend, but a tool for empowerment. Our focus is on making that experience safer and simpler by supporting regulation, enhancing user education, and strengthening local partnerships that expand access responsibly.

7: How is Binance supporting education and trust around stablecoins and crypto adoption in Africa?

Education is the foundation. Through Binance Academy, community tours, and university partnerships, we’ve educated hundreds of thousands of Africans on blockchain, digital assets, and financial safety.

Trust comes from experience. We invest in compliance, security, and transparency initiatives, publish proof-of-reserves data, and collaborate with local authorities. We aim to empower users with both the tools and confidence to participate safely in the digital economy.