Paga CEO says no one firm will make stablecoins mainstream
Panellists at TechCabal's Moonshot in Lagos said stablecoins are becoming a payment tool for African businesses, and that the industry has to build them together.
The facts
- According to TechCabal, panellists at Moonshot in Lagos said stablecoins are moving beyond crypto trading into cross-border business payments in Africa.
- Flutterwave's Mercy Emmanuel said settlement happens in seconds or minutes, where a Lagos to Nairobi payment can take days through correspondent banks.
- Paga CEO Tayo Oviosu said customers mostly care that payments are fast, cheap and on time, and most will never know a stablecoin was involved.
- Oviosu also said regulators have shifted, citing CBN support for stablecoins and NCC welcoming the idea. Juicyway's Ife Johnson said firms must keep building trust with regulators.
Case notes · Danny's take
Why it matters
The best payment technology is the kind you never notice. If stablecoins win in Africa, it will be because a supplier in Kano gets paid on time, not because anyone learnt what a token is. That's the shift from trading to plumbing. Note the quote from Oviosu too: no single company owns this, so the real work is connecting banks, payment firms and regulators.
For traders
This is an infrastructure story, not a price catalyst. If you follow it, watch for real usage evidence, such as payment volumes and stablecoin flows on African rails, and not conference quotes.
For builders
The opening is in the boring middle: products that hide the stablecoin and give businesses fast, cheap settlement. Oviosu expects several firms to serve different audiences, so pick a niche. Keep regulators close, because Johnson stressed that trust has to keep growing with the market.
Not financial advice. Do your own investigation.
This story was summarised with AI from TechCabal's reporting and checked against our editorial policy. Danny's take reflects his views. Disclaimer.
Danny Walter
Founder of Moon Republic, Volt Terminal and Moon Republic Academy. Author of The Market Is a Crime Scene and After the Applause.