Banks, fintechs to explore stablecoin opportunities at summit

Banks, fintechs to explore stablecoin opportunities at summit

Nigeria’s banking, fintech and digital asset sectors are moving to define the next phase of stablecoin adoption as industry players prepare to converge in Lagos for discussions on how digital currencies can support payments, trade and financial inclusion.

The Nigeria Stablecoin Summit 2.0, scheduled for Thursday, 30 July, at the Lagos Oriental Hotel, will bring together regulators, banks, payment companies, cryptocurrency exchanges and blockchain firms to examine opportunities emerging from the country’s expanding digital asset ecosystem.

The summit, organised by the Africa Stablecoin Network, comes a year after the inaugural edition, where regulators signalled a more open approach to stablecoin innovation and digital asset development in Nigeria.

Since then, stablecoins have gained wider attention among businesses and financial institutions seeking faster and more efficient ways to settle transactions, facilitate cross-border payments and reduce friction in moving value internationally.

Themed ‘New Vistas,’ this year’s summit will focus on the transition of stablecoins from a niche

digital asset product into a potential component of future payment infrastructure.

Industry stakeholders are expected to discuss key issues including regulatory frameworks, digital asset custody, payment interoperability, on-ramps and off-ramps, as well as partnerships required to scale institutional adoption.

The event comes amid increasing interest in stablecoins globally as financial institutions explore blockchain-based settlement systems and digital representations of traditional currencies.

Nathaniel Luz, President of the Africa Stablecoin Network and Convener of the Nigeria Stablecoin Summit, said the industry has moved beyond debates about whether stablecoins have a role in finance and is now focused on building practical applications. “Last year, we opened the door. This year, we will walk through it,” Luz said. “The institutions coming to NSS 2.0 are not coming to speculate. They are coming to build the payment systems that will carry African trade for the next decade.”

He added that banks, payment companies and exchanges would need to participate in shaping standards and partnerships as digital payments evolve across the continent.

Nigeria’s regulatory environment for digital assets has continued to develop, with the Securities and Exchange Commission increasing engagement with market participants and providing clearer guidance for the sector.

The passage of the Investment and Securities Act 2025 also strengthened the legal foundation for digital assets, creating a framework that industry participants say could support further investment and innovation.

However, market players argue that the next stage of growth will depend on execution, including reliable infrastructure, institutional-grade custody solutions and stronger connections between digital assets and everyday financial transactions.

Speakers expected at the summit include Dr Segun Aina, President of the Africa Fintech Network; Sola Adeyinka,  Chief  Executive Officer of Vale Holdings;  Dr Stephen  Ibidunni,  Associate Professor at James Hope University; Gbenga Omosuyi, Head of Global Business Development at Sphere Lab; Tosin Nathaniel-Luz, Lead at Nexply Compliance; Chief Executive Officer and Co- Founder of Circle Funds, Sogo Dowole, and Chief Executive Officer of cNGN, Uyoyo Ogedegbe.

Source: https://punchng.com/banks-fintechs-to-explore-stablecoin-opportunities-at-summit/