On World Fintech Day 2026, the United Nations Economic Commission for Africa (ECA), together with the Africa Fintech Network (AFN), Financial Innovation for Impact (Fii), and the Cambridge Centre for Alternative Finance (CCAF), convened a high-level dialogue on one of the most important trends shaping the future of finance in Africa: tokenised money and stablecoins. The discussion focused on how these emerging digital financial instruments could transform cross-border payments, improve financial efficiency, and support Africa’s digital economy while maintaining financial stability and regulatory oversight.
Africa’s payment ecosystem remains fragmented, with many countries still facing high remittance costs, lengthy settlement times, and limited interoperability between financial systems. As trade under the African Continental Free Trade Area (AfCFTA) continues to expand, the need for faster and more affordable cross-border payment solutions is becoming increasingly urgent. Participants in the ECA-hosted webinar explored whether stablecoins and tokenised money could help address these long-standing challenges.
A Growing Digital Asset Economy
One of the strongest messages from the event was that digital assets are no longer a future concept for Africa. According to remarks shared during the webinar, the continent now has more than 54 million digital asset users, with Nigeria alone estimated to account for around 25.9 million users. This rapid growth reflects increasing demand for alternative financial infrastructure that can support payments, savings, and cross-border commerce in a more efficient manner.
The discussion also highlighted the remarkable growth of the global tokenised money ecosystem. Research presented by the Cambridge Centre for Alternative Finance indicated that tokenised money instruments exceeded US$300 billion in 2025, with fiat-backed tokens accounting for more than US$250 billion. These figures demonstrate that tokenised money is rapidly evolving from an experimental technology into a significant segment of the global financial system.
Why Stablecoins Matter for Africa
Stablecoins are increasingly gaining attention because they combine elements of traditional currencies with blockchain-based settlement infrastructure. During the webinar, experts from Yellow Card and Ripple emphasized that stablecoins are already being used for cross-border payments, intra-African transfers, and treasury management. These use cases are particularly relevant in African markets, where businesses often face expensive foreign exchange processes and slow international transfers.
Unlike many cryptocurrencies that experience significant price volatility, stablecoins are designed to maintain a relatively stable value by being linked to an underlying asset, often a fiat currency. This makes them potentially more suitable for commercial payments, remittances, and financial services applications. Webinar participants also discussed how local-currency stablecoins could emerge as an alternative to the currently dominant US dollar-denominated stablecoins, potentially supporting domestic financial systems while preserving monetary sovereignty.
Cross-Border Payments Remain the Biggest Opportunity
A central theme throughout the dialogue was the opportunity to improve cross-border payments. High transaction costs continue to burden remittance recipients, small businesses, and traders across the continent. Stablecoins and tokenised money could offer a more efficient settlement mechanism that reduces friction between jurisdictions and financial institutions.
The webinar specifically examined how emerging forms of digital money could strengthen regional financial integration while improving payment speed and accessibility. If implemented responsibly, stablecoin-powered payment infrastructure could become a valuable complement to existing banking systems and mobile money networks across Africa.
Regulation Will Determine Success
While enthusiasm for innovation was evident, regulators participating in the event emphasized that adoption must be balanced with safeguards. Representatives from the Capital Markets Authority of Uganda, the Bank of Ghana, and the Financial Services Commission of Mauritius shared perspectives on their evolving approaches to digital assets and stablecoins. Common priorities included consumer protection, financial stability, regulatory clarity, and monetary sovereignty.
An important takeaway was that regulatory convergence across Africa does not require identical laws in every country. Instead, participants highlighted the importance of compatible regulatory outcomes, supervisory cooperation, and coordinated approaches to innovation. This could allow countries to support digital financial innovation while reducing regulatory fragmentation.
Challenges Still Need to Be Addressed
Despite the growing momentum, several challenges remain. Speakers pointed to regulatory uncertainty, infrastructure limitations, liquidity constraints, trust issues, and limited access to effective on- and off-ramps as barriers to adoption. These challenges underscore the need for continued collaboration among regulators, fintech firms, financial institutions, and technology providers.
Another important point raised during the discussion was that stablecoins should not necessarily be viewed as replacements for existing financial services. Instead, they can complement current payment infrastructures, including mobile money systems that already serve millions of Africans. This integration-focused approach may be the most practical path toward wider adoption.
The Road Ahead
The webinar concluded with a call for stronger regulatory cooperation, greater supervisory coordination, expanded cross-border pilot projects, and continued research into Africa’s evolving digital money ecosystem. Participants also stressed the importance of building evidence-based policies that support innovation while protecting consumers and preserving financial stability.
As Africa continues its digital transformation, stablecoins and tokenised money are moving from niche concepts into mainstream policy discussions. The World Fintech Day dialogue demonstrated that African regulators, fintechs, central banks, and international institutions increasingly recognize the potential of these technologies to modernize payments, reduce transaction costs, and strengthen regional economic integration. The challenge now is turning that potential into practical, secure, and inclusive solutions for the continent.
Watch the full webinar recording: https://www.youtube.com/watch?v=NWEUQgKff3w