Nigeria Tops Global Stablecoin Ownership with USDT and USDC

Nigeria has emerged as the top holder of USDT (Tether) and USDC (USD Coin), two widely used stablecoins pegged to the US dollar. According to a recent report by BVNK, a stablecoin firm, Nigeria's dominance in stablecoin ownership is largely due to its growing reliance on dollar-denominated digital assets.

The report found that 59% of Nigerian crypto users hold USDT, while 48% own USDC, marking the highest combined ownership level among the countries surveyed. This significant adoption of stablecoins has catapulted Nigeria ahead of major economies like Australia and India in the global ranking.