Stablecoin Pay Gap Yawns Wide in Sub-Saharan Africa, 57% Want It But Only 18% Get It

A recent survey of over 2,300 independent workers across 20 countries, including sub-Saharan Africa, reveals a significant gap between demand and supply of stablecoin payouts. The survey, conducted by Stripe, found that 57% of workers in the region would take stablecoin payouts if offered by platforms, but only 18% currently receive them.

The survey also highlights the growing adoption of stablecoins in sub-Saharan Africa, with 43% of the region's crypto transaction volume now using stablecoins. This is likely driven by the region's high unbanked rate of 40% and the prevalence of cash-based transactions, which stablecoins are helping to address.

However, the adoption of stablecoins is hindered by a lack of education and guidance on how to use them. 53% of workers surveyed said they want clearer guidance on how to buy, store, and use stablecoins, suggesting that willingness to adopt stablecoins is being held back by a lack of practical knowledge.

Furthermore, the survey reveals that workers in the region are not just looking for stablecoins as a payment rail, but also as a basic savings tool. 70% of workers said they want to earn yield on their platform balances, suggesting that stablecoins could provide a more attractive option for savings than traditional banking products.