Stablecoins Boost Africa’s Broken Payments System

Africa's broken payments system is getting a lifeline in the form of stablecoins, which are being used for everyday transactions rather than speculative investments. According to Osaro Jackson, a fintech and payments executive with experience across African cryptocurrency markets, the continent is witnessing a shift from crypto trading towards practical financial use.

Stablecoins like USDT are being held by merchants to protect value against local currency depreciation, freelancers are receiving payment in stablecoins from overseas clients, and cross-border traders are settling deals faster with dollar-denominated digital assets. Jackson argues that adoption is driven by utility rather than speculation, and that stablecoins are increasingly playing a role in solving structural problems within African financial systems.

One of the most immediate opportunities lies in remittances, where international transfers still attract high fees and can take days to clear. Stablecoin-based infrastructure could change this by allowing recipients to access money more quickly and at lower cost, opening up markets that have long been expensive or difficult to serve.