Stablecoins Overtook Bitcoin in African Crypto Markets
Financial operators in Africa have shifted from speculative crypto trading to using stablecoins for payments.
Updated on Sept. 25, 2026 in Financial Services
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Stablecoin transaction flows across 10 African markets now exceed $500 billion, signaling a transition away from bitcoin speculation as the primary use for digital assets. This shift reflects a move toward using blockchain technology for practical cross-border transfers and payments.
Why it matters
Operators now prioritize stablecoins for remittances and cross-border settlements because these assets provide a stable value pegged to currencies like the rand or dollar. This transition enables businesses to utilize digital infrastructure for liquidity and commerce rather than price volatility.
Absa reported that stablecoin flows across its 10 African markets have more than doubled in four years to exceed $500 billion. Total crypto transaction volumes in South Africa remain broadly steady despite bitcoin activity falling below 2019 and 2020 levels.
The players
Absa
A major African financial services group that provides retail, business, and corporate banking services across 10 markets.
Moneyweb
A South African financial news provider that hosts industry summits for investors and business leaders.
The details
Stablecoins operate by tracking an underlying currency, such as the rand or US dollar, to facilitate rapid value movement. Meanwhile, tokenisation allows businesses to divide ownership of illiquid assets—like commodities or property—into smaller digital units. By using blockchain for these fractionalized assets, companies can accelerate settlement times and broaden access to investment capital against yields like wine production.
Timeline
Bitcoin-related activity in South Africa peaked in 2019 and 2020.
The Moneyweb Money Summit took place in 2026 at the Sandton Convention Centre.
Adoption of tokenised assets is expected to accelerate over the next 12 to 18 months.
Market Landscape
This development highlights the broader transition from speculative cryptocurrency trading to utility-based stablecoin payment systems. It mirrors how enterprises are increasingly leveraging blockchain infrastructure to solve traditional cross-border liquidity and settlement challenges.
Business operators should monitor the increasing utility of tokenised assets for raising finance against illiquid agricultural or production yields. Review your current cross-border payment providers to determine if stablecoin integration offers faster settlement times than traditional banking rails.
The takeaway
The maturation of digital assets in Africa shows that businesses are abandoning speculative trading in favor of reliable, currency-pegged tools. Operators should watch for the expected acceleration of tokenised asset adoption over the next 18 months as a potential new avenue for capital raising.
Further reading
For more on evolving digital payment infrastructure, see Financial Services.
Source note: This article includes information reported by Moneyweb.
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