Yellow Card, Africa’s leading licensed stablecoin payments orchestrator, has officially released its groundbreaking “2025 Report on the State of Digital Assets Regulation in Africa” – the continent’s most comprehensive analysis of digital asset regulatory frameworks to date.
With over 54 million digital asset users across Africa and Sub-Saharan Africa leading the world in stablecoin adoption at 9.3%, the report maps out how regulators across 20+ countries are responding to the continent’s rapid digital finance transformation.
According to the report, Nigeria ranks first globally in stablecoin adoption and second in overall digital asset usage, with 25.9 million users, representing an 11.9% penetration rate.
This places the country at the epicenter of Africa’s digital asset movement, driven by the need to hedge against naira volatility, access USD-denominated value, and streamline cross-border transactions.
“We’re seeing real momentum from both regulators and innovators, a clear signal that digital assets are no longer fringe, but foundational,” said Craig Stoehr, Yellow Card’s general counsel, and one of the authors of the Report.
The report highlights Nigeria’s significant regulatory developments, including:
- The Securities and Exchange Commission (SEC) now officially regulates digital assets as securities, cemented by amendments to the Investments and Securities Act (ISA) 2024.
- Programs like the Accelerated Regulatory Incubation Program (ARIP) are onboarding platforms into formal regulatory structures.
- The Central Bank of Nigeria (CBN) has relaxed its previous stance on VASPs, issuing guidelines for banking relationships with crypto firms in late 2023.
These moves signal an ecosystem maturing rapidly, with growing clarity, oversight, and legitimacy.
Stablecoins are proving transformative for Nigerian individuals and businesses alike. Beyond personal savings and remittances, more companies are now accepting digital assets for payments, unlocking faster transactions and deeper access to foreign currency-denominated tools, all of which fuel economic innovation and financial inclusion.
The report also highlights regional trends, including the rise of Central Bank Digital Currencies (CBDCs), increased AML/CFT compliance, and how other African countries like Kenya, Ghana, and South Africa are developing their frameworks.
Yellow Card’s “State of Digital Assets Regulation in Africa – 2025” report is now available to the public and can be accessed on the Yellow Card website.
