Nigeria has been ranked as the world’s top country for stablecoin adoption in the newly released 2025 Report on the State of Digital Assets Regulation in Africa by Yellow Card.

The report also places Nigeria second globally in overall digital asset usage, just behind India, according to the licensed African stablecoin payments provider.

Touted as the most in-depth analysis of digital asset regulation in Africa, the report reveals how Nigerians are turning to blockchain-based financial tools—particularly USD-backed stablecoins—for practical uses like cross-border transactions, hedging against currency volatility, and gaining access to U.S. dollars.

The report shows that Sub-Saharan Africa leads the world in stablecoin adoption with a rate of 9.3%, driven largely by Nigeria’s dominance.

With an estimated 25.9 million digital asset users and an 11.9% penetration rate, Nigeria ranks as the second-largest digital asset market globally, following India.

Yellow Card’s report links the widespread adoption of stablecoins in Africa to the continent’s distinct macroeconomic and financial challenges, noting that stablecoins provide a dependable alternative in the face of currency devaluation, inflation, and expensive remittance systems.

“Stablecoins have become an increasingly critical tool for Africans seeking more efficient and accessible financial solutions. Nowhere is this more evident than in Nigeria.

“Nigeria’s leadership in stablecoin adoption and digital asset usage is not just a tech milestone; it’s a signal of how financial innovation can thrive in response to local needs. The rest of Africa is clearly following,” said Yellow Card.

Beyond Nigeria, nine other African countries appear in the global top 50 for digital asset adoption: Ethiopia (26th), Morocco (27th), Kenya (28th), South Africa (30th), Uganda (34th), Algeria (43rd), Egypt (44th), Ghana (46th), and the Democratic Republic of the Congo (48th).

Despite regulatory uncertainty—such as bans or restrictions in Algeria, Egypt, Morocco, and Tunisia—the report estimates that Egypt and Morocco together account for over 17 million digital asset users.

Africa now hosts more than 54 million digital asset users.

Yellow Card noted that as adoption surges among individuals, businesses, and a growing number of financial institutions, regulatory focus across the continent is steadily intensifying.