A series of new listings for local stablecoin issuer Stable Naira’s naira-pegged stablecoin SNR emerged on various Tier-2 crypto platforms. Moreover, it marks a great rest as the stablecoins market is accelerating in Nigeria.
Stable Naira Expands Distribution For SNR Stablecoin In Nigeria
The company shared that it had received listings on several Tier 2 platforms in its bid to gain visibility in the digital asset space over the weekend. In a statement posted on X, StableNaira said: “Over the weekend, we listed StableNaira / SNR on a lot of Tier 2 listing platforms across the digital economy.”
The firm added, “God bless SNR, Long live the Naira. The Stable Naira Development Team has announced the listing of SNR on various platforms.
These include CoinCodex, CoinRanking, CoinMarketCal, CoinCheckup, DropsTab, CoinSniper, CoinScope, Moontok, and FreshCoins during the weekend of May 16, 2026. According to the project, the expansion was described as a “Tier 2 – discovery & market-data platforms” for the SNR Stablecoin.
Why It Matters
The move follows the surge in the use of stablecoins in Nigeria and across Africa. It involves many citizens in Africa turning to dollar-backed and local currency stablecoins for savings, payments, and remittances.
According to a recent report by Yellow Card, stablecoins accounted for 43% of all crypto transaction volume within the sub-Saharan region in 2024. Nigeria was the top market in the region in terms of stablecoin transaction volume, accounting for almost $22 billion worth of transactions from July 2023 to June 2024.
It also highlighted that adoption of the report is on the upswing in Ethiopia, Ghana, Kenya, South Africa, Uganda, and Zambia. Yellow Card noted that stablecoins have come into wider use than just retail trading.
The assets are reportedly used for various purposes, with approximately 70% of users using them for personal use (e.g., remittances and savings) and about 30% for business activities.
Recently, Stable Naira made another achievement in the growing market by posting CertiK’s final audit on its SNR stablecoin.
Mastercard & Yellow Card Eye To Facilitate Stablecoin Transactions In Africa
Stablecoins are now becoming a necessity for businesses involved in cross-border transactions, according to Sharon Tum, the Regional Manager for East Africa at Yellow Card.
“Stablecoin adoption is accelerating among businesses for three clear reasons: faster cross-border settlements, reduced FX costs, and hedging against currency volatility,” Tum said.
Moreover, leading payment companies are getting into the same momentum. In a recent announcement, Mastercard and Yellow Card announced their partnership.
They aim at the remittance market in Africa with stablecoins via payment infrastructure. It aims to cut down on transfer fees, increase settlement time, and accelerate access to digital financial services in Nigeria, Kenya, Ghana, South Africa, and the United Arab Emirates.
Also Read: Binance, Bitget & Crypto.com Execs To Join Finance Magnates Africa Summit This Week
