Fintechs Are Going All In As Stablecoins Quietly Flip The Script In Africa

A quiet revolution is brewing in Africa’s financial sector, and stablecoins are at the centre of it. These digital currencies, pegged to stable assets like the US dollar, are rapidly moving from a niche crypto product to a crucial tool for corporate treasury and cross-border trade.

Just days ago, African payments giant Flutterwave, which counts global giants like Uber and Microsoft among clients, announced it will enable stablecoin transfers on its network, using blockchain technology from Polygon Labs.

The move will allow businesses (large and small), as well as individuals, to settle international payments almost instantly, offering an alternative to the slower, more expensive SWIFT network.

Sending money across borders into Africa has long been a costly and slow process. A single USD 10 K transfer can incur fees of up to USD 845.00, per World Bank's findings. Stablecoins are now posing a faster, cheaper alternative, and major financial players are taking note. This year, Western Union, Mastercard, and Visa have all announced new efforts to integrate stablecoin products for the African market.

Another major African crypto player, Yellow Card, is making an even bigger bet. The company recently revealed it will shut down its consumer mobile app on January 1, 2026, to focus entirely on its B2B stablecoin infrastructure.

"We are closing the Yellow Card mobile app as part of a strategic shift in our business," the company stated. "This decision allows us to fully focus on our core vision, providing institutional-grade stablecoin infrastructure for businesses across emerging markets."

From Sending Money Home to Powering Business

The pivot signals a fundamental change in how stablecoins are used. Initially popular for personal remittances and as a hedge against volatile local currencies, they are now being deployed to solve major corporate headaches.