Stablecoins have gained popularity in Nigeria as they are linked to the widely accepted U.S. dollar, serving as a safeguard against inflation and the devaluation of the local currency, the naira. This preference for stablecoins stems from their ability to maintain a stable value through their connection to a reliable asset. By being tied to the U.S. dollar, stablecoins offer Nigerian users a sense of security and protection against economic uncertainties. This has made stablecoins the preferred choice for cryptocurrency transactions in the country, as they provide a reliable hedge against the fluctuations of the naira.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinEl Salvador leads in Bitcoin interest rankings, with Brazil surpassing Nigeria