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BIGGEST AFRICAN ECONOMIES LEAD STABLECOIN DEMAND GROWTH

  • NEWS Desk Global
  • Feb 18
  • 1 min read

Africa's biggest economies Nigeria and South Africa are driving the strongest growth in demand for stablecoins and are the most optimistic about their potential, a survey found, with many users also wanting them to become more widely accepted.

Stablecoins are promising faster and cheaper ways to move money in poorer countries, but as 99% of them, including the dominant Tether and USDC, are pegged to the dollar, they also raise worries about economic dollarisation and capital flight.

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