Moonshot 2026: ‘Stablecoins here to optimise financial system, not replace it’
Stablecoins Seen as Key to Transforming Cross-Border Payments
By Efosa Taiwo
Stablecoins have the potential to revolutionize cross-border payments by minimizing transaction delays, enhancing liquidity, and expediting money transfers, according to speakers at the recent Moonshot 2026 conference.
During a panel discussion titled “The New Payment Backbone: Stablecoins as Core Infrastructure for Global Liquidity” on the Emerging Tech Stage, industry experts explored the role of stablecoins in reshaping payment systems across Africa and the global financial landscape.
Mercy Emmanuel, Stablecoin & Blockchain Vertical Lead at Flutterwave, noted that stablecoins could streamline international transfers, which often involve numerous intermediaries and take days to process.
“Sending money from Lagos to Nairobi involves many steps. It could take two to five days before it reaches its destination. Stablecoins can simplify this process,” Emmanuel explained. She compared stablecoins to a train that operates independently of banking hours and time zones, asserting that they could facilitate near-instantaneous payments and enable businesses to conduct transactions without interruption.
Emmanuel also suggested that the adoption of stablecoins could prompt businesses to reevaluate their payment methods and enhance their financial operations. “Stablecoins are here to optimize the financial system, not to displace traditional methods,” she said, emphasizing that the industry is shifting towards a focus on the speed and efficiency of transactions.
Tayo Oviosu, Group CEO of Paga, stated that the widespread use of stablecoins will depend on collaboration among fintech companies, sufficient liquidity, and simplified access for users. He mentioned that consumers are primarily concerned with the cost and speed of services rather than the technology behind them.
“Ultimately, it’s about meeting consumer needs. They want to move between fiat currencies, and stablecoins can facilitate that,” Oviosu said. He further emphasized that overcoming liquidity challenges is essential for making stablecoin transactions user-friendly and accessible, adding that no single entity can transform the technology into a mainstream financial tool alone.
Oviosu underscored the need for industry collaboration to promote stablecoin usage, asserting that joint efforts are crucial for expanding access to the necessary infrastructure and liquidity.
Ife Johnson, co-founder of JuicyWay, emphasized the importance of shared infrastructure, advocating for a shift from isolated systems to integrated solutions that better support the financial ecosystem. “We need to move from silos to shared infrastructure among industry players,” he said.
On the topic of regulation, Johnson highlighted the necessity of partnerships between businesses and regulators to ensure responsible technology development. He acknowledged that the adoption process may take time due to the significant implications of integrating new payment systems into existing financial frameworks.
Johnson expressed optimism that showcasing responsible implementations and addressing concerns could foster regulatory trust and encourage advancements in the sector.
Oviosu also pointed out the evolving discussions surrounding stablecoins and digital payments in Nigeria, noting that interaction between industry stakeholders and regulators has become increasingly positive.
“Three or four years ago, no one could have predicted that the Central Bank of Nigeria would support stablecoins or that the NCC would welcome the idea. It’s encouraging to see this dialogue develop,” he remarked. He added that Nigeria could serve as a model for other African nations if relevant stakeholders continue to engage constructively and collaborate on addressing adoption challenges.
Emmanuel similarly praised the growing support from the Federal Government and stressed the importance of collaboration among industry participants and policymakers for developing the stablecoin ecosystem.
