Forecasted increase in commercial transactions using stablecoins in Nigeria within a three-year timeframe, as stated by Zabira.

Zabira Technologies Predicts Stablecoins to Drive Business Transactions in Nigeria

Zabira Technologies, a leading digital assets exchange, recently announced its brand relaunch in Lagos during a press briefing. The company has evolved into a comprehensive digital payments and asset exchange platform, aiming to become Africa's most reliable digital asset hub.

In a report titled "Stablecoin Adoption in Emerging Markers," Zabira Technologies highlights the transformative role of stablecoins across the continent. The report suggests that stablecoins are expected to become a major driver of business transactions in Nigeria within the next one to three years.

The growing adoption of stablecoins in Nigeria is driven by regulatory support and increasing adoption across the digital economy. Major Nigerian companies, including local businesses and freelancers, are actively using stablecoins for business transactions. They leverage dollar-pegged digital assets to manage Naira volatility, as the Nigerian SEC supports stablecoin innovation within a regulated framework.

The development is particularly evident at the Nigeria Stablecoin Summit in Lagos, where the increasing adoption across Nigeria's digital economy was highlighted. Specific company names are not mentioned in the sources, but the trend is clear: businesses constrained by foreign exchange bottlenecks are increasingly turning to crypto, with stablecoins offering a way to bypass lengthy transaction processes and high fees associated with traditional banking.

International clients can send funds in stablecoins to Nigerian users, which platforms like Zabira instantly convert to naira. This feature is particularly beneficial for businesses in the import-export sector, where a surge of companies is predicted to invest heavily in stablecoins due to reduced turnaround times for payments and reduced hassles.

The U.S. "Ingenious Act" recognizes cryptocurrencies within legal frameworks, influencing businesses and investors to view crypto as a legitimate financial tool. As a result, stablecoins are expected to become a mainstream financial tool as companies seek faster, cheaper, and more reliable cross-border payment alternatives.

Cryptocurrency use cases in Nigeria, particularly stablecoins, are expanding, making it easier for Nigerian users to integrate crypto into daily transactions. Freelancers, e-commerce operators, and logistics companies in Nigeria are already leveraging cryptocurrency, especially stablecoins, to receive and make payments.

However, most local merchants in Nigeria are yet to accept direct crypto payments. The rebrand of Zabira Technologies underscores a renewed commitment to clarity, trust, and accessibility, which could potentially encourage more merchants to adopt crypto payments.

The prediction that stablecoins will become a major driver of business transactions in Nigeria is not limited to the country. Countries like Rwanda, South Africa, Kenya, and Morocco are making progress toward crypto adoption, particularly in payments. As regulatory frameworks continue to evolve and businesses embrace the benefits of stablecoins, it is likely that the use of stablecoins will become more widespread across Africa.

Forecasted increase in commercial transactions using stablecoins in Nigeria within a three-year timeframe, as stated by Zabira.