Nigeria’s crypto funding doubles to $43m on stablecoin boom in 2025
Summary
Nigerian Web3 startups raised $43 million in 2025, more than double the $20 million recorded in 2024. Stablecoin-linked finance products captured about $38 million (89% of total funding), driven by strong demand for digital-dollar alternatives for payments, savings, FX, and cross-border transfers; stablecoin deposits grew over 9,000% from 2018 to 2025 and 24-hour P2P transfer volume hit $48.2 million in 2025. Funding remained concentrated in a few larger bets, with over 90% coming through grants and only one Series A closing, indicating the market is still early-stage. Regulators tightened oversight with new tax rules, higher minimum capital requirements for exchanges and custodians (N2 billion), AML/reporting obligations, and the SEC launched an incubation program while digital assets were formally recognized under the Investments and Securities Act 2025.