Nigeria tops global ownership of USDT and USDC stablecoins

NIGERIA has emerged as the leading country globally in the ownership of the two largest stablecoins, Tether (USDT) and USD Coin (USDC), reflecting the country’s increasing use of dollar-linked digital assets.

Stablecoins like USDT and USDC are designed to maintain a fixed value by being pegged to the US dollar, enabling users to store digital value while avoiding the sharp price swings commonly associated with cryptocurrencies such as Bitcoin.

Findings from the 2026 Stablecoin Utility Report released by BVNK show that 59 percent of Nigerian crypto users own USDT, while 48 percent hold USDC, representing the highest combined level of ownership among all countries covered in the study.

The report places Nigeria ahead of large economies including Australia and India, underscoring the country’s strong appetite for digital assets linked to the US dollar.

Australia ranked second on the list, with 34 percent of users holding USDT and 29 percent holding USDC, while India placed third with 30 percent USDT ownership and 27 percent USDC.

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Other countries featured in the ranking include Colombia, where 25 percent of users own USDT and 29 percent hold USDC, and Singapore with 29 percent USDT and 24 percent USDC.

In South Africa, the report found that 23 percent of crypto users hold USDT while 29 percent own USDC. Meanwhile, the United States recorded 22 percent ownership of USDT and 26 percent for USDC.

Across Asia, the Philippines recorded 27 percent USDT ownership and 20 percent USDC, while Thailand reported 25 percent and 21 percent respectively. In Argentina, 25 percent of users hold USDT and 20 percent hold USDC.

Among European economies, France posted 21 percent USDT ownership and 14 percent USDC, while Germany recorded 15 percent USDT and 17 percent USDC.

In Latin America, Mexico showed equal ownership levels of 16 percent for both USDT and USDC, while Brazil reported 14 percent USDT and 16 percent USDC. The United Kingdom recorded 16 percent ownership for USDT and 14 percent for USDC.

The study also noted that USDT ownership exceeds that of USDC in several markets, including Nigeria, Australia, India, Singapore, the Philippines, Thailand, Argentina, and France.

USDC, however, is widely regarded as a more compliance-focused stablecoin due to its emphasis on transparency and regulatory alignment.

In some countries, USDC adoption surpasses USDT. For instance, in South Africa and Colombia, 29 percent of users hold USDC compared with 23 percent and 25 percent USDT respectively.

A similar trend appears in Germany, where USDC ownership stands at 17 percent compared with 15 percent for USDT, while Brazil records 16 percent for USDC and 14 percent for USDT.

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Overall, the data suggests that the growth of stablecoin adoption is being driven largely by emerging markets rather than advanced economies.

According to the report, countries such as Argentina, Nigeria, and the Philippines are among the biggest adopters, with users increasingly turning to dollar-pegged digital assets to safeguard savings and enable cross-border transactions.