Visa’s Vision for Stablecoins and Digital Payments in Africa
Michael Berner, Group Country Manager for Southern and Eastern Africa at Visa, emphasizes that stablecoins have the potential to significantly transform Africa’s financial services landscape, particularly in countries that face difficulties accessing foreign currency.
Speaking to ITWeb during the recent Visa Payments Forum, Berner discussed how emerging trends, such as the rise of stablecoins, digital payments, and artificial intelligence (AI), are shaping the financial services ecosystem across the continent. The 2026 Visa Payments Forum, held in Paris, gathered regional partners to discuss future payment mechanisms and innovative financial services.
According to Berner, the increasing adoption of cashless transactions in Africa is driven by governmental policy shifts, financial institutions, and the evolving preferences of Gen Z. He stated the importance of ensuring that digital payments are seamless, “invisible,” and safeguarded against fraud.
Berner pointed out that the economic challenges posed by foreign exchange reserves have made the implementation of stablecoins a critical opportunity for promoting financial inclusion. He noted that regions like Kenya are already witnessing a growing interest in stablecoin-based products, including payment cards linked to stablecoins.
At the same forum, Oliver Jenkin, President of Global Markets at Visa Group, forecasted significant developments in the blockchain and stablecoin sectors, acknowledging that although still in their early stages, these advancements will shape the future of finance. He reiterated Visa’s ambition to act as a bridge between cryptocurrencies, stablecoins, and fiat currencies.
Visa is making strides in modernizing payments through blockchain-based infrastructure and stablecoins. The company plans to develop a technology layer enabling banks to convert traditional deposits into programmable, always-on digital money via tokenization. This innovation aims to align banks with the speed and flexibility offered by stablecoins while maintaining liquidity on their balance sheets.
As Visa expands its pilot for stablecoin payments across various regions and currencies, it revealed moving billions of dollars in stablecoins through VisaNet, achieving an annual run rate of approximately $7 billion as of March 2026. Since launching stablecoin functionalities in the CEMEA region a year ago, Visa has witnessed an impressive increase in payment volumes, nearly 60 times their initial levels.
The Global Surge in Stablecoin Usage
Stablecoins are gaining traction among governments, banks, and payment providers due to their potential to revolutionize digital payments. According to market analysis, global trading volume for stablecoins is projected to reach $33 trillion by 2025, marking a staggering 70% increase year-on-year.
In Africa, both Nigeria and South Africa are at the forefront of this rapid adoption, driven by increased trade activity across the continent. Insights from the 2026 Stablecoin Utility Report, conducted by YouGov for the fintech firm BVNK in collaboration with Coinbase and Artemis, indicate a shift in user behavior. The study surveyed over 4,600 early adopters and crypto enthusiasts across 15 countries.
This behavioral shift transcends regional boundaries as stablecoins become a preferred tool for faster, more secure, and affordable transactions. Factors such as currency volatility, high inflation rates, and the demand for cheaper cross-border payment options are expected to accelerate stablecoin adoption in Africa, particularly in 2026.
According to the Stablecoin Utility Report, 79% of respondents in Africa currently own a stablecoin, representing the highest ownership rate globally. Additionally, 76% indicated plans to acquire stablecoins in the near future. The study shows that Nigeria and South Africa are leading not only in daily spending on stablecoins but also in the growing interest in receiving digital asset-based income, with 95% of respondents expressing a desire to be paid in stablecoins for salaries, freelance work, or cross-border services.
