Stablecoins and Survival: How Africa Is Rewriting Web3’s Future

Africa is poised to become the most dynamic growth market for Web3 technologies, according to Gideon Greaves, Head of Investments at Lisk. Speaking at the ETHSafari 2025 event in Nairobi, Greaves emphasized the continent’s unique blend of necessity-driven innovation, grassroots entrepreneurship, and increasing venture capital interest, which together are transforming Africa into a leading hub for cryptocurrency and blockchain adoption. Unlike traditional tech hubs, Africa’s Web3 story is defined by real-world problem-solving, with crypto and stablecoins being integrated into daily economic activities rather than speculative trading [1].

Stablecoins, in particular, are gaining significant traction in Africa, with Chainalysis reporting that they accounted for 43% of all crypto transaction volume in Sub-Saharan Africa in 2024. These digital assets are being used not as financial instruments for speculation but as tools for survival in economies where inflation and unreliable traditional banking systems have made them indispensable. Small businesses use stablecoins to preserve value, families reduce transfer fees for remittances, and freelancers receive payments in digital dollars to avoid currency devaluation [1]. From rural Ghana to Nairobi’s bustling markets, blockchain-powered solutions are enabling direct trade, financial access, and supply chain transparency—use cases that are proving Web3’s viability in a practical, everyday context.

This shift is also reflected in the startup ecosystem, where African founders are taking a problem-led approach to Web3 development. Unlike the token-first strategies often seen in Silicon Valley, African startups prioritize real-world impact. They build tools that function in low-connectivity environments and serve immediate needs, such as cross-border trade and credit access for the underbanked [1]. Michael Lawal of AyaHQ, one of Africa’s leading Web3 incubation programs, underscores the importance of conviction in a founder’s success. Ikenna Oriza, CEO of music platform Jamit, noted that Lisk stood out among blockchain platforms for its intentional and hands-on support for African entrepreneurs seeking to build for a global audience [1].

Lisk is actively positioning itself at the forefront of this growth by expanding its Layer-2 infrastructure and supporting local incubation programs. Dominic Schwenter, Lisk COO, emphasized the company’s commitment to more than just technical integration, noting that Lisk provides on-the-ground support, mentorship, and access to capital through partnerships with local incubators. This strategy has enabled startups to develop practical, utility-driven solutions without relying on token-based hype [1]. According to Schwenter, the company’s long-term vision in Africa includes seamless adoption of Web3, where crypto becomes an invisible but essential component of everyday financial services [1].

Greaves and Schwenter envision a future where Africa plays a pivotal role in Web3 development akin to India’s role in IT services. Stablecoins could become the default for trade and remittances, while blockchain-enabled financial tools improve cash flow cycles for small businesses and expand access to global markets. With mature markets becoming saturated, Africa offers a unique opportunity for innovation and high returns, driven by its urgent need for financial inclusion and digital infrastructure. As Schwenter explained, the success of Web3 in Africa hinges on founders who build for real problems and are supported by ecosystems that prioritize scalability and sustainability [1].

Source:

[1] Africa Will Be Web3's Biggest Growth Market, Says Lisk's Head of Investments (https://beincrypto.com/africa-web3-lisk-ethsafari/)

[2] Celo (CELO) Sponsors Nairobi Stablecoin Event (https://blockchain.news/flashnews/celo-celo-sponsors-nairobi-stablecoin-event-identity-and-future-of-payments-panel-verified-headline-for-traders)

[3] Gary Yang：The Asset Tokenization Trend Based on ... (https://medium.com/@gary_yangge/gary-yang-the-asset-tokenization-trend-based-on-stablecoin-pricing-models-d37ce92cfae2)