A new report titled State of Stablecoins 2025 has made one thing clear: stablecoins are no longer just crypto tools—they’re becoming an essential part of global finance.
According to the report, the total supply of stablecoins grew by 63% in 2024, now reaching $225 billion. In February alone, global stablecoin transactions hit $4.1 trillion, while yearly volume surpassed $35 trillion—more than what platforms like Visa and PayPal processed combined. The number of active stablecoin addresses also rose to 30 million, a 53% increase from the previous year.
So, what does this have to do with Nigeria? Quite a lot.
Read also: Globachain launches stablecoin platform for Africa-Europe cross-border payments
Nigeria’s Quiet Entry into the Global Conversation
Within the report is a small but significant detail: Nigeria’s cNGN stablecoin is listed alongside EURC (Europe), BRZ (Brazil), and CADC (Canada) as one of the key regional stablecoins to watch.
Launched in February 2025 by the Africa Stablecoin Consortium, cNGN is a Naira-pegged, regulated stablecoin that offers Nigerians a blockchain-based way to move money faster and at lower cost. Unlike the eNaira, which is centrally controlled by the CBN, cNGN is a private-sector innovation. It runs on Base Blockchain, making transactions faster and cheaper, and is already live on Nigerian crypto exchanges Quidax and Busha.
This positions Nigeria not just as an observer but as an active player in the global stablecoin shift.
Global Adoption Is Accelerating
The report highlights a clear pattern: institutional adoption is picking up pace.
• Banks in Latin America and Europe are integrating stablecoins.
• Payment giants like Stripe and MoneyGram are using them for settlements.
• Even government-backed projects are testing stablecoins for cross-border transactions.
Stablecoins, once a niche used by crypto traders, are now moving into real-world financial infrastructure. This aligns with the vision behind cNGN—a stable, Naira-pegged asset designed to complement, not compete with, the formal financial system.
The report showcases a range of stablecoin types:
• Fiat-backed like USDC, USDT, and PYUSD
• Crypto-backed like USDe
• Yield-generating like Sky and USDe, which offer returns to holders
cNGN isn’t designed to earn interest or be backed by crypto. Instead, it fills a different need: it’s a regulated digital Naira meant for day-to-day transactions, savings, and possibly even remittances.
Its structure suggests a long-term goal—to make digital payments easier for everyday Nigerians while still working within the guardrails of regulation.
Read also: Stablecoins will gain prominence in Africa — Fintech
Why This Matters for Nigeria
With inflation, FX pressure, and a highly digitised youth population, Nigeria is one of the most active crypto markets globally. Yet, most of that activity is centered around USD-based stablecoins like USDT and USDC.
cNGN could offer a local alternative that is both regulated and blockchain-ready. The inclusion in a major global report sends a signal: the world is paying attention.
But for cNGN to reach its potential, public awareness must grow, businesses and financial institutions must be willing to integrate it, and Nigerians must see clear value beyond what USDT already provides.
Conclusion
The State of Stablecoins 2025 report presents a strong case: stablecoins are not just surviving—they are shaping the future of money.
With cNGN, Nigeria has taken a bold step forward, joining countries that are building real-world applications on blockchain. The question now is whether this innovation will stay within crypto exchanges or find its way into everyday commerce, remittances, and financial services.
Either way, Nigeria has entered the stablecoin conversation—not as a spectator, but as a serious participant.
