Stablecoins exceed transaction volume visa for the first time
Top Line: Stablecoins handled more transaction volumes than Global Payments Giant Visa in 2024, quietly achieving a significant milestone, according to a new report from Bitwise Investments. (detail)
Important Details: Visa handled an impressive $13.2 trillion in 2024 (an increase of $900 billion from the previous year), but Stablecoins managed to get the edge just above this figure.
Stubcoin as a managed asset (AUMS) jumped to $218 billion, representing an increase of 13.5% over three months. This historic flip comes after years of growth in stable adoption, especially in areas facing foreign exchange shortages.
Key Context: Stablecoins proves particularly valuable in the Global South, which accounts for almost half of all crypto trading volumes.
Yellowcard CEO Chris Maurice said, “Around 70% of African countries face a FX shortage. (…) Stubline offers the opportunity for businesses to continue running, grow and strengthen their local economies.
Note: The rapid growth of stubcoin, especially in savings and payments, poses systemic risks even if not properly regulated. Without strong protection, massive redemptions can lay the foundation for the 2008 style crisis by destabilizing publishers such as circles and tethers.
Nigerian Fintech accepts blockchain for POS payments
Topline: Point-of-Sale (POS) terminal providers Accelerex and ITEX have joined the zone's regulated blockchain network, allowing them to process payments directly in the chain. (detail)
Details: This integration eliminates intermediaries that route payment processing and transactions directly to financial institutions that issue cards.
Both companies will benefit from immediate payments, reduced transaction disruptions and improved fraud prevention by participating in other FinTech blockchain traceability and ITEX, including Onafriq's Baxi, Fairmoney and Kongapay, including Onafriq's Baxi, Fairmoney and Kongapay, on the zone's private blockchain network.
Important Quote: Managing Director of Accelerex Chuks Anakudo:
“Integration with the zone's blockchain-powered payments network will enhance our ability to seamlessly process payments, eliminate chargebacks, ensure real-time payments and maintain full regulatory compliance.”
Background: The zone network initially built on top of Hyper Redgar fabric acts as a decentralized payment switch between Nigerian financial institutions.
The platform has evolved beyond ATM transactions to include blockchain-based POS services, with 24 traditional companies currently using the system.
Zap Africa is rebuilding Crypto Trust in Nigeria – while fighting to protect its name
Topline: As Trust issues make it a centralized crypto platform an issue, Zap Africa is trying to solve it with a non-obligatory approach to cryptography and Fiat swap. (detail)
Details: Started in the aftermath of the FTX collapse, ZAP emphasizes user control and transparency by never holding customer funds beyond what is needed to complete the transaction.
The platform has processed 2 billion (approximately $12.5 million) since its launch and has charged over 50,000 sign-ups, including 12,000 active users.
How it works: Users specify a bank account for Naira payments, provide wallet address and send crypto, maintaining full control of their assets.
The company will partner with Platnova CEO to secure a European VASP license, helping to build payment APIs and collaborate with banks.zap, ensuring immediate payments.
Trademark Battle Update: The company faces a trademark dispute with Fintech Giant Paystack.
As of April 2025, ZAP Africa has been approved for three trademark registrations in Nigeria and intends to pursue legal action to protect the brand name from PayStack claims.
Stablecoins are becoming the backbone of digital finance, from cross-border payments to government policies. Each week we track the most important developments that will form this evolving market for you.
1. One big thing: Meta revives stablecoin plan after a three-year crypto break
Three years after abandoning the DIEM project, Meta is investigating Stablecoin-based payments for creators across the platform, according to sources familiar with the talks. The move changes the political winds in the US and shows Big Tech's renewed interest in Stablecoins amid rising adoption by companies such as Stripe, Visa and Fidelity. (luck)
2. Retarding US Senators' bill amid concerns over Trump's bonds
The procedural vote to advance Stablecoin's law has failed in the Senate and has not reached the 60 votes needed to advance. The delay came after last-minute dissent from Democrats and concerns over Trump's code relationship. (Coindesk)
3. Stripe launches Stablecoin accounts for users in over 100 countries
Stripe has officially announced support for Stablecoin-funded accounts for users in over 100 countries. Currently supported stubcoins are Circle's USDC and USDB. This is the native dollar Stablecoin of Bridge, Stripe's recently acquired Crypto infrastructure. (Bloomberg)
strable speed heading
OKX Executives encourage utilities to prioritize hype in RWA projects. Teather will create another $1 billion on the Tron blockchain. Ramp announces Stablecoin-Backed Corporate Cards for cross-border transactions. cap.
catch up
🇰🇪The Kenya Court orders WorldCoin to delete all biometric data (Mariblock)
🌍Report | USDT Stablecoin dominates the crypto loan market with over 73% market share (BITKE)
A South African town where you can pay almost everyone with bitcoin (my broadband)
opportunity
Sign up for Bybit Academy via Altschool Africa. Network School has launched a $100,000 fellowship for its founders and creators. Please apply here. The UNICEF Venture Fund provides $100,000 in funding to blockchain and frontier technology startups. Please apply here.
That's all for this week!
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Until next week,
Ogechi.
