The public record of our measurements.
Africa’s stablecoin economy, measured wallet by wallet and published with the method attached. Every figure here is dated, permanent and traceable to an on-chain sweep — not a survey, not a self-reported number, not an estimate. Free to cite with attribution.
Every note, newest first
19 notes · 6 milestones · 4 coverage notes · 1 weekly recap · 6 analyses · 2 Gradient notes
- The GradientQ2 2026
Eight of the 14 venues we track lost share last quarter
The market grew 18% last quarter, the median venue 11%, and the biggest venue 7%. Ranked by size the board barely moved — ranked by momentum, two thirds of the venues we track are ceding ground.
8 of 14venues lost share - MilestoneWeek of Jul 20, 2026
Quidax just set a deposit record
Quidax posted its largest deposit week on record — $4.9M, 23% above a prior peak set just 28 days earlier. The gain came from existing users spending more, not from new sign-ups.
$4.9Mrecord deposit week - The GradientQ2 2026
The Gradient: total volume hides who's actually winning
The #2 venue by lifetime volume processed just $2.9M last quarter. A same-sized rival moved $23M — eight times more. Lifetime volume measures scale; it does not measure momentum. The Gradient measures both.
8×gap between two same-sized venues - Weekly RecapWeek of Jul 20–26, 2026
Weekly recap: a new high of $10.6M
Retail stablecoin volume across the 14 venues we track hit a new weekly high of $10.6M, 16% above the prior peak. It was a concentrated week — Quidax alone drove 46.3% of it.
$10.6Mretail volume, week of Jul 20–26 - MilestoneCoverage 2025 – Q2 2026
Breet crosses $20M
Breet has crossed $20M in retail stablecoin volume across 13,644 wallets — and half of it landed in a single quarter. At 10.8% of all retail flow in our coverage, it is now one of the largest venues we track.
$20.3Mlifetime retail volume - MilestoneCoverage 2024 – Q2 2026
Bayse Markets crosses $1M
Bayse Markets has crossed $1M in retail stablecoin volume — the first prediction market in our coverage to do so. 44% of everything it has ever moved landed in the last quarter alone.
$1.03Mlifetime retail volume - MilestoneMarch 2023 – July 2026
Native African stablecoins cross $1 billion
Native African stablecoins have crossed $1 billion in on-chain transfers. The cast that moved the first $800M is not the one that pushed it over the line — H1 2026 flipped both the leading token and the settlement chain.
$1.0027Blifetime transfer volume - CoverageCoverage Mar 2025 – Jul 2026
Newly mapped: SFx
SFx is now mapped end to end — $894K in lifetime retail stablecoin volume across 1,086 wallets. It is the first venue in our coverage where Polygon dominates, carrying 85% of flow.
$894Klifetime retail volume - CoverageCoverage Jul 2025 – Jul 2026
Newly mapped: Onboard Global
Onboard Global is now mapped end to end — $10.7M in lifetime retail stablecoin volume from zero in 13 months. Its top ten wallets hold 63% of volume, the least concentrated venue in our coverage.
$10.7Mlifetime retail volume - MilestoneCoverage Mar 2025 – Jul 2026
Paj Cash crosses $1M
Paj Cash has crossed $1M in retail cashout volume. At a $21 average ticket it has the smallest cashout of any venue we track — and 96.6% of it is funded straight from users' own wallets.
$1.04Mlifetime cashout volume
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Attributed, not estimated
Every figure traces to an on-chain sweep of addresses we have verified and labelled, wallet by wallet. Nothing here is extrapolated from a survey, a funding round or a company’s own disclosure.
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Each note carries a method statement naming what was measured and what was excluded. A note without one fails the build. See the methodology for attribution, clustering and sweeps.
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