NIGERIAN WEB3 FUNDING DOUBLES, STABLECOIN DEPOSITS UP 9,000% SINCE 2018
Nigerian Web3 startups raised $43 million in 2025, more than double the $20 million recorded in 2024, according to the Hashed Emergent "Nigeria Web3 Landscape Report 2025." The finance sector accounted for 89% of total funding at $38 million, a fivefold increase driven largely by stablecoin payment, cross-border, and fiat-to-crypto infrastructure startups.
Nigeria recorded the highest 24-hour peer-to-peer stablecoin transaction volume on centralized exchanges globally at $48.2 million in 2025. Stablecoin deposits in the country have risen 9,000% between 2018 and 2025, reflecting a deep reliance on digital dollars as a hedge against naira volatility and a cheaper channel for remittances.
The country now contributes 4% of global Web3 developers, the highest share in Africa, with the local ecosystem growing 36% year-on-year. The regulatory backdrop shifted in 2025 as the SEC Nigeria formally recognized digital assets as securities under the Investment and Securities Act 2025, paired with a new tax framework.