#plasma $XPL # Nigeria's $22 Billion Stablecoin Revolution Nobody Saw Coming

Your currency loses 60% of its value in two years. Sending money abroad costs 8% in fees. Your bank feels like a trap. What do you do?

If you're Nigerian, you open your phone and buy stablecoins.

Between July 2023 and June 2024, Nigerians processed nearly $22 billion in stablecoin transactions—43% of all crypto volume in Sub-Saharan Africa. This isn't speculation. It's survival.

When the naira collapsed from 460 to 1,500 per dollar, millions turned to USDT and USDC as digital lifeboats. Traditional remittances cost up to 8.45% in fees. Stablecoin transfers? Under a dollar, settled in minutes.

The twist? When regulators banned crypto banking in 2021, adoption didn't die—it went underground. Telegram groups became exchanges. Peer-to-peer networks flourished. Citizens built their own financial system.

Now the government is catching up. Nigeria launched cNGN, Africa's first regulated naira stablecoin, and established formal oversight through the 2025 Investment Securities Act. Over 70% of Nigerians are under 35, mobile-first, and uninterested in broken legacy systems.

This isn't some future trend. It's happening now—one transaction at a time—proving that when traditional finance fails, people don't wait for permission to build alternatives.

The stablecoin revolution is already here.@Plasma