Moonshot 2026: ‘Stablecoins here to optimise financial system, not replace it’

By Efosa Taiwo Stablecoins could transform cross-border payments by reducing transaction delays, improving liquidity and making money transfers faster and more accessible, speakers at Moonshot 2026 have said. The speakers made the remarks during a panel session titled “The New Payment Backbone: Stablecoins as Core Infrastructure for Global Liquidity” on the Emerging Tech Stage, where industry leaders discussed how stablecoins could reshape payments across Africa and the global financial system.

Mercy Emmanuel, Stablecoin & Blockchain Vertical Lead, Flutterwave, said stablecoins could simplify international transfers, which often involve multiple intermediaries and take several days to complete. “Sending money from Lagos to Nairobi goes through a lot. It could take two to five days before it gets to its destination. Stablecoins collapse all these,” Emmanuel said.

She likened the technology to a moving train that operates without the restrictions of banking hours and time zones, arguing that it could make payments almost instantaneous and allow businesses to conduct transactions seamlessly alongside their online operations. According to her, stablecoins could also encourage businesses to rethink their payment processes and build more efficient financial operations.

“Stablecoins are here to optimise the financial system, not displace the traditional way,” she said, adding that the financial industry was moving towards a system in which the focus would be on how quickly and efficiently money could move from one point to another. Tayo Oviosu, Group Chief Executive Officer of Paga, said widespread stablecoin adoption would require collaboration among financial technology companies, sufficient liquidity and simpler access for everyday users.

He argued that consumers were more concerned about the cost and speed of financial services than the underlying technology powering their transactions. “Ultimately, it is giving them what they want: they want to go from fiat to fiat. Stablecoin can be used in between,” he said. Oviosu added that solving liquidity challenges would make stablecoin transactions easier to access and use, stressing that no single company could independently make the technology a mainstream part of everyday financial life.

“We want to make it simple. The way you can come to Paga and get a naira wallet, get a stablecoin wallet. That is the part of the user,” he said. He also called for industry players to work together to expand the use of stablecoins, noting that stronger collaboration would be necessary to improve access to the infrastructure and liquidity required to support wider adoption.

Ife Johnson, co-founder of JuicyWay, also emphasised the need for shared infrastructure, urging industry players to move away from isolated systems towards solutions that could support the wider financial ecosystem. “The mind shift that needs to happen is moving from silos to shared infrastructure for industry players,” Johnson said. On regulation, Johnson said collaboration between businesses and regulators would be critical to ensuring the technology could develop responsibly.

He noted that adoption could take time because of the broader implications of introducing new payment systems into existing financial structures. He expressed confidence that demonstrating responsible implementation and addressing potential concerns would help build regulatory trust and encourage progress. Oviosu also pointed to changing conversations around stablecoins and digital payments in Nigeria, saying engagement between industry stakeholders and regulators had become increasingly encouraging.

“Three, four years ago, who could have said CBN will support stablecoins, NCC welcomes the idea? It is interesting to see that dialogue,” he said. He added that Nigeria could help set an example for other African markets if stakeholders maintained constructive engagement and worked together to address the challenges surrounding adoption. Emmanuel similarly welcomed what she described as growing support from the Federal Government, saying cooperation among industry participants and policymakers would be important to the development of the ecosystem.