40% of Nigerians use cryptocurrency for international money transfers, says report

A new report has revealed that about 40% of Nigerians now use cryptocurrency for international money transfers, highlighting the country’s growing role in digital finance, according to Nairametrics.

The findings, drawn from the Cross-Border Payments Interoperability Index published by Thunes in partnership with Juniper Research, show Nigeria far ahead of the global average of 11%.

Analysts say the trend is driven by economic pressures, currency volatility, and limited access to foreign exchange, pushing users toward digital assets like stablecoins. The report also notes Nigeria’s strong awareness of fintech tools, with rising adoption of mobile wallets and crypto platforms.

Despite this growth, challenges remain, especially fragmented payment systems across Africa. Still, Nigeria is emerging as a key hub for cross-border crypto innovation and fintech experimentation.