Stablecoins could transform cross-border payments by reducing transaction delays, improving liquidity and making money transfers faster and more accessible, according to speakers at the Moonshot 2026 conference. Industry leaders discussed how the technology could reshape payments across Africa and the global financial system during a panel session titled 'The New Payment Backbone: Stablecoins as Core Infrastructure for Global Liquidity' on the Emerging Tech Stage.
Mercy Emmanuel, Stablecoin and Blockchain Vertical Lead at Flutterwave, highlighted how international transfers currently operate. She noted that sending money from Lagos to Nairobi goes through multiple intermediaries and can take two to five days to reach its destination. Emmanuel said stablecoins could collapse this process, likening the technology to a moving train that operates without the restrictions of banking hours and time zones, making payments nearly instantaneous. She added that 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,' Emmanuel said.
Tayo Oviosu, Group Chief Executive Officer of Paga, said widespread stablecoin adoption would require collaboration among fintech 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 stressed that no single company could independently make the technology mainstream and called for industry players to work together to expand stablecoin use.
Ife Johnson, co-founder of JuicyWay, emphasised the need for shared infrastructure and urged 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, noting that adoption could take time because of the broader implications of introducing new payment systems into existing financial structures.
Oviosu pointed to changing conversations around stablecoins and digital payments in Nigeria, saying engagement between industry stakeholders and regulators had become increasingly encouraging. He noted that three or four years ago it would have been unlikely for the CBN to support stablecoins or the NCC to welcome the idea. He added that Nigeria could help set an example for other African markets if stakeholders maintained constructive engagement. Emmanuel similarly welcomed what she described as growing support from the Federal Government, saying cooperation among industry participants and policymakers would be important to developing the ecosystem.