Friday, June 27, 2025

Nigeria’s first stablecoin summit to offer $10,000 to startups, undergraduates

Nigeria’s first stablecoin summit scheduled to hold in Lagos is expected to offer outstanding startups and undergraduates grants up to $10,000 in what would promote business development and innovation, organisers say.

The conference, billed for Thursday, July 24, 2025, is set to bring together policymakers, stablecoin innovators, and various stakeholders to discuss the future of borderless digital payments on the continent.

“Startups attending the event would have the opportunity to participate in a pitch competition, where winners would receive up to $10,000 in cash and other prizes,” the organisers said in a statement.

“Undergraduates with an interest in the tech and digital finance ecosystem are invited to submit their write-ups for an Essay Competition, which would award 1st, 2nd, and 3rd place to the best entries.”

Nigeria boasts one of the largest tech talent pools in Africa. During the conference, policymakers, stablecoin issuers, exchanges, payment gateways, regulators, developers, and ecosystem enablers are all expected to engage in open dialogues to develop frameworks that reflect current realities.

Nathaniel Luz, president of the Africa Stablecoin Network and convener of the Nigeria Stablecoin Summit, stated that there is a need for coordinated efforts and collaborations between the government and fintechs to unlock the full potential of stablecoins in Nigeria.

He added that policymakers and stablecoin innovators would need to engage in open dialogue to develop frameworks that reflect current realities.

Luz explained that the summit’s theme, “Enhancing Adoption for a Borderless Digital Economy,” speaks to Nigeria’s need for a more integrated and seamless borderless payment ecosystem.

He emphasized that the industry needs interoperable payment systems and reliable on- and off-ramps that connect everyday commerce with stablecoins, stressing that collaborations between the government and fintechs would strengthen trust, scale solutions, and help build a sustainable ecosystem that solves real-world problems.

He further said that Nigeria’s digital finance economy is ripe for growth and expansion with room for more adoption, but these crucial “gateway discussions” have not yet taken place. He therefore urged all stakeholders in the Nigerian digital finance ecosystem to attend the Nigeria Stablecoin Summit, organised by the Africa Stablecoin Network.

Luz described the gathering as a very special and pivotal moment that would shape the future of payments in Nigeria and beyond. He asserted that while stablecoins might be a luxury for the West, they are an economic lifeline for Africa.

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