Stablecoins Have Overtaken Bitcoin in African Markets
Stablecoin transaction flows across ten African markets operated by Absa have climbed to over $500 billion.
Updated on Sept. 25, 2026 in Financial Services
Live Poll
Do you believe stablecoins are a more practical tool for your financial transactions than speculative cryptocurrencies?
Stablecoins have replaced bitcoin speculation as the primary driver of cryptocurrency activity across African markets. Data from Absa reveals that stablecoin flows across the firm's 10 African markets now exceed $500 billion.
Why it matters
The shift highlights a transition toward using digital assets for practical payments, remittances, and cross-border transfers rather than price speculation. Stablecoins utilize underlying currency pegs to facilitate the rapid movement of value across borders.
Absa now reports over $500 billion in annual stablecoin flows across 10 African markets, a figure that has more than doubled in the last four years. Meanwhile, bitcoin-related activity in South Africa has dropped below levels observed in 2019 and 2020.
The players
Absa
Absa is a large financial services group operating across 10 African markets that manages rand reserves for the ZARsc stablecoin.
Moneyweb
Moneyweb is a South African financial news and media platform that hosts an annual Money Summit for investors and industry professionals.
The details
Tokenisation, which divides asset ownership into smaller digital units on a blockchain, is also gaining traction as a way to finance agricultural yields and wine production. These digital tools allow for wider access to historically illiquid investments and faster settlement times.
Timeline
Bitcoin-related activity in South Africa hit its peak in 2019 and 2020.
The Moneyweb 2026 Money Summit took place in the Sandton Convention Centre.
Adoption of tokenised assets is projected to accelerate over the next 12 to 18 months.
Market Landscape
This pivot reflects a broader transition where institutional digital assets provide utility-based financial infrastructure rather than relying on the speculative volume that defined early crypto markets. By moving toward stable-value tokens, financial firms are increasingly positioning themselves to capture the practical demand for cross-border remittance and asset tokenization.
Users in these markets can expect faster settlement times and more efficient methods for handling international remittances compared to traditional banking systems. As tokenization expands, investors may find new ways to access previously illiquid assets like commodities and property.
The takeaway
The move toward stable-value assets indicates that blockchain technology is finding its most significant utility in practical, high-frequency financial operations. Investors and businesses should monitor tokenization trends as these tools continue to bridge the gap between digital ledger technology and real-world assets.
Further reading
Learn more about the evolution of digital finance in our Financial Services section.
Source note: This article includes information reported by Moneyweb.
Live Poll
Do you believe stablecoins are a more practical tool for your financial transactions than speculative cryptocurrencies?
