As Nigeria’s remote tech workforce continues to expand, the Africa Stablecoin Network (ASN) has urged stakeholders to develop stronger and more integrated payment systems to meet the evolving needs of the digital economy.

The call comes ahead of the Nigeria Stablecoin Summit, billed to hold on Thursday, July 24, 2025, at the Lagos Oriental Hotel, Victoria Island. The landmark event, described as the first of its kind in Africa, will convene policymakers, stablecoin issuers, exchanges, payment gateways, regulators, developers, and other digital finance stakeholders.

President of the Africa Stablecoin Network and summit convener, Nathaniel Luz, emphasised the urgent need for interoperable payment frameworks that can seamlessly connect stablecoin ecosystems with traditional commerce.

“The industry needs interoperable payment systems and reliable on- and off-ramps that connect everyday commerce with stablecoins,” Luz said in a statement on Tuesday.

He noted that although Nigeria boasts one of the largest tech talent pools on the continent, its financial infrastructure still lags behind, particularly when it comes to facilitating borderless transactions for freelancers and remote workers.

Building Trust Through Collaboration

Luz stressed the importance of collaboration between government institutions and fintech innovators, arguing that such partnerships are key to building trust, scaling solutions, and establishing sustainable systems that address real economic challenges.

“Everyone from startups to regulators has a role to play,” he added.

Summit to Focus on Digital Adoption and Innovation

Themed ‘Enhancing Adoption for a Borderless Digital Economy’, the summit aims to foster alignment on payment strategies that reflect Africa’s unique financial realities. Luz pointed out that, unlike in the West where stablecoins are often treated as speculative tools, they serve as an economic lifeline across Africa, offering protection against inflation and enabling cross-border trade.

“This is a pivotal moment for Nigeria’s digital finance ecosystem,” Luz said. “We’re inviting startups, companies, and stakeholders in the cross-border payments space to come together and define the next phase.”

Startup and Student Competitions to Spotlight Local Talent

In a bid to spotlight local innovation, startups attending the summit will have the opportunity to pitch for a $10,000 prize in a live competition. Additionally, the summit will feature a student essay contest focused on tech and digital finance, with cash prizes awarded to the top three entries.

The Nigeria Stablecoin Summit is expected to generate critical conversations around regulatory clarity, technological infrastructure, and financial inclusion, potentially shaping the next chapter of digital finance not only in Nigeria, but across Africa.