African businesses are finding another way to move dollars across borders

Paying a supplier in another country can become a problem long before the goods leave the warehouse. A business may have enough money in its local account, but still struggle to get the dollars needed to pay a supplier. International transfers can take days, while foreign exchange costs and bank charges add to the bill.

Some African businesses are now using stablecoins to move that money. Stablecoins are digital tokens linked to currencies such as the US dollar. USDT and USDC are among the most widely used. For these businesses, the point is not to speculate on crypto prices. The stablecoin is being used to move money from one country to another.

More than $200 billion moved on-chain

Sub-Saharan Africa recorded more than $205 billion in on-chain value between July 2024 and June 2025, according to figures reported by ITWeb Africa. The figure was 52% higher than the previous year. Stablecoins made up 43% of crypto transaction volume across the region. Nigeria accounted for more than $92 billion of the on-chain value recorded during the period. Its total was almost three times South Africa's. The numbers include individual transactions, but the growing use of stablecoins is also changing how some companies handle international payments.

The payment can happen without a crypto sale

Take an African importer buying stock from a supplier overseas. The importer receives payments from customers in its local currency. The supplier, however, wants dollars. Traditionally, the importer would rely on its bank or a foreign exchange provider to convert the money and send the payment. With a stablecoin-based payment service, the business can pay through the provider while the stablecoin is used to move the dollar value between the two sides. The supplier does not necessarily need to keep the stablecoin either. It can be converted into dollars or another currency before the supplier receives the funds. That makes the process less about buying crypto and more about moving money.

Nigeria shows why the use case matters

Nigeria has become one of the continent's biggest markets for crypto and stablecoins. Access to foreign currency has been a recurring problem for businesses operating in the country. Importers need dollars to pay suppliers, while companies earning money from abroad need reliable ways to receive it. Stablecoins give some of these businesses another payment route. Similar problems exist elsewhere in Africa. A company trading between Kenya, Uganda, Tanzania or South Africa has to deal with different currencies, banking systems and payment networks. A dollar-based digital token can sit between those markets.

Small businesses feel payment delays first

For a multinational company, an international transfer is usually part of a larger treasury operation. For a small importer, it can be the difference between receiving stock this week or waiting for the supplier to confirm payment. A delayed payment can also mean a missed shipment, a customer waiting longer for an order or money sitting idle while a transaction is processed. This is where stablecoin payment services are targeting businesses. The company does not necessarily have to set up its own crypto operation. A fintech or payment provider can handle the digital-asset side while the business deals in ordinary currencies.

Crypto is moving into the background

This is perhaps the biggest change. A business using a stablecoin-based payment service may never describe itself as a crypto business. Its customer pays in naira, shillings or rand. The supplier receives dollars. Somewhere between those two transactions, a stablecoin may be used to settle the payment. The blockchain is doing the work in the background. That is a different proposition from asking businesses to hold Bitcoin on their balance sheets.

It still comes with trade-offs

Stablecoins do not eliminate foreign exchange costs or make international payments risk free. Businesses still need to choose a payment provider, manage wallet security and understand how the stablecoin will be converted into the currency they need Rules also differ from one African market to another. For a small company, there is another question: how much does the entire transaction cost compared with using its bank?

If the savings are small, there may be little reason to change. But where banks are slow, dollars are difficult to access or cross-border transfers are expensive, stablecoins are becoming another option for businesses that simply need to get money from one country to another.