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
93 notes · 38 milestones · 18 coverage notes · 15 recaps · 20 analyses · 2 Gradient notes
- AnalysisWeek of Oct 19 – 25, 2026
cNGN's biggest week moved more money, not more people
cNGN moved $20.87M in the week to 25 October, its highest transfer volume on record. Transfer count was only the fifth-highest. The gap is the whole story: BSC moves a thousand large tickets, Base moves seventeen thousand small ones.
$20.87McNGN transfer volume, week of Oct 19 – 25 - RecapWeek of Oct 19 – 25, 2026
Weekly recap: the market rises, and one venue is all of it
Total volume rose 9.1% to $176.23M. Obiex added more than the whole market gained, so without it the week fell 2.5% — and deposits dropped 9.2% to the thinnest week since early September.
$176.23Mtotal stablecoin volume, week of Oct 19 – 25 - MilestoneMar 2024 – Oct 2026
Monica crosses $200M in stablecoin deposits
Monica, a crypto-to-naira offramp, has crossed $200M in customer stablecoin deposits — $200.60M across 1.33M deposits and 72,444 wallets, measured onchain. The second $100M took six months; the first took 25.
$200.60Mstablecoin deposits, lifetime - MilestoneFebruary 2026 – October 2026
Daya Pro crosses $25M in stablecoin deposits
Daya Pro, a Nigerian exchange launched in February, crossed $25M in stablecoin deposits in September — now $28.31M across 7 chains. A big-ticket venue: avg deposit $3,182, and ₦589.7M of cNGN too.
$28.31Mstablecoin deposits, lifetime - MilestoneOctober 2023 – October 2026
A million dollar-account settlements
The virtual-account rail AfriFlux tracks crossed 1,000,000 settlements on 19 Oct — $376M of stablecoin paid into the USD accounts of 5 Nigerian neobanks, Bridge-attributed. 2026 alone has already passed all of 2025.
1,000,000virtual-account settlements - CoverageEffective 12 October 2026
Hisa joins coverage, and brings a category with it
Hisa went live on 12 October as the first Savings & Investments venue, taking the published count from 25 to 26. It is small — $210,281 on three chains since April — and coverage reads Partial because Solana is not yet ingested.
26venues published as live - RecapWeek of Oct 12 – 18, 2026
Weekly recap: the big books fall a quarter, the deposit base holds
Total volume fell 22.9% to $161.39M. Obiex, Flutterwave and Quidax each lost about a quarter in the same week, while deposits slipped only 4.9% to 201,474 — still the fifth-highest week we have recorded.
$161.39Mtotal stablecoin volume, week of Oct 12 – 18 - AnalysisQ3 2026 (Jul–Sep)
Nigeria's stablecoin chains each have a job
Across the Nigerian venues AfriFlux tracks, no single chain runs the stablecoin economy: BSC carries everyday deposits, Tron business settlement, Solana neobank payouts, Base and Celo the naira machinery. In Q3, the jobs moved.
12 chainseach doing a different job - AnalysisQ3 2026 (Jul–Sep)
Onchain FX enters Nigeria's stablecoin stack
In Q3 a new onchain FX layer — Textile and HyperFX — began composing with cNGN and Paycrest. 43% of Paycrest's naira payout value followed a USDT→cNGN Textile swap by the same wallet within the hour.
43%of Q3 Paycrest naira payout value, chained - MilestoneApr 2025 – Oct 2026
Spenda crosses $100M in stablecoin deposits
Spenda, a crypto-to-naira offramp, has crossed $100M in customer stablecoin deposits — $100.39M across 2.49M deposits and 170,559 wallets, measured onchain. Year two has already surpassed all of year one.
$100.39Mstablecoin deposits, lifetime
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