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MilestoneLifetime to Sep 15, 2026

Textile FX crossed $10M in African volume — and it's almost all naira

Textile FX has now cleared more than $10M in African stablecoin volume — and in Africa almost all of it is one corridor: USDT ↔ cNGN, dollar against the Nigerian naira. ~99% of the $10.1M, settling mostly on BNB Chain.

MeasuredcNGNcNGNUSDTBSCCeloBase
$10.1M
African volume cleared

of $14.5M total across all pairs

~99%
USDT / cNGN share

of African volume

$8.5M
On BNB Chain

Celo second at $1.5M

13,089
African fills

since 7 June 2026

Textile FX is an onchain FX layer, not a venue — it routes stablecoin swaps through UniswapX for other people's apps. It has now cleared more than $10M in African stablecoin volume, and in Africa almost all of that flow is a single corridor.

USDT ↔ cNGN — dollar against the Nigerian naira.

Milestone card showing Textile FX has cleared $10.1M in African stablecoin volume across 13,089 fills, roughly 99% of it USDT to cNGN, since June 2026.

Roughly 99% of the $10.1M is dollar ↔ naira FX, with $8.5M settling on BNB Chain and another $1.5M on Celo. 13,000+ fills since June, out of $14.5M cleared across all pairs.

Horizontal bar chart of Textile FX African volume by chain: BNB Chain $8.52M, Celo $1.48M, Base $0.08M, with a note that about 99% is USDT to cNGN.

This isn't custodial deposit volume. It's actual stablecoin-to-naira FX being settled onchain, measured directly from the settlement contracts — which is also why we report it on its own and never fold it into venue market volume: a single trade can cross this rail and also show up as a venue's deposit, and we don't want to count it twice.

Live daily volume, pairs and chains: afriflux.xyz/venues/textile.

Method

Textile FX cleared notional is measured on-chain from its RFQ settlement contracts; African volume is the subset of fills with an African currency — here, cNGN — on one side, lifetime to 15 September 2026. This is infrastructure volume (routing and settlement flow), and it is never added to the venue market index: a single retail trade can cross this rail and also appear as venue volume. Excludes non-African pairs and all off-chain activity.

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Free to cite with attribution. No embargo, no approval needed.

AfriFlux (2026). Textile FX crossed $10M in African volume — and it's almost all naira. Published 16 September 2026. https://www.afriflux.xyz/feed/textile-fx-10m-african-volume

Reproducing a chart? Use this line: Source: AfriFlux — on-chain intelligence for Africa's stablecoin economy. afriflux.xyz