IMF, Yellow Card meet on stablecoins adoption, digital financial infrastructure in Nigeria

A delegation from the International Monetary Fund (IMF) has met with Yellow Card for discussions on the emerging stablecoin ecosystem and the broader future of digital financial infrastructure in Nigeria. Yellow Card, a stablecoin and digital payments platform operating in Nigeria and across global emerging markets, played host to the IMF delegation in Lagos during […]

A delegation from the International Monetary Fund (IMF) has met with Yellow Card for discussions on the emerging stablecoin ecosystem and the broader future of digital financial infrastructure in Nigeria.

Yellow Card, a stablecoin and digital payments platform operating in Nigeria and across global emerging markets, played host to the IMF delegation in Lagos during which they discussed the rapidly evolving role of stablecoins within Nigeria’s financial system and across emerging markets.

 

The discussions also covered practical use cases of stablecoins in everyday financial activity, including cross-border payments, remittances, liquidity access, and their interactions with foreign exchange markets.

Participants at the meeting also explored the regulatory considerations shaping the sector, the importance of transparent reserve backing mechanisms, and the role digital assets could play in strengthening financial infrastructure across Africa.

Representing the IMF were Bo Zhao, an economist in the Macro-Financial Unit of the Strategy, Policy and Review Department, and Bonet Laraba, IMF Office Manager.

Members of Yellow Card’s Nigeria leadership team at the meeting included Lasbery C. Oludimu, Vice President of Operations and Managing Director for Nigeria, Sebastine Odimma, Tax Director, Bright Chinweotuto Anyanwu, Senior Compliance Manager and Money Laundering Reporting Officer for West, Central and East Africa, Japhet Gana, Group Head of Transaction Risk and Financial Crimes, and Somtochukwu Nnajim, Nigeria Country Manager.

 

Commenting on the engagement, Lasbery C. Oludimu, Vice President of Operations and Managing Director for Yellow Card Nigeria, emphasised that such engagement highlights the growing importance of dialogue between industry operators and global policy institutions.

“Stablecoins are becoming an increasingly important part of the financial infrastructure that supports global commerce, particularly in emerging markets,” Oludimu said.

 

“Across Africa, we are seeing businesses and individuals adopt stablecoins for cross-border payments, remittances, and as a more stable store of value in challenging currency environments. Engaging with institutions like the IMF allows us to share on-the-ground insights while also contributing to conversations around responsible regulation and sustainable innovation in the digital asset ecosystem.”, he added.

Daily Trust reports that stablecoins are increasingly being recognised as an important layer in modern financial systems, globally.

 

Governments and regulators in multiple jurisdictions are actively developing frameworks to guide their responsible use, while businesses are exploring how blockchain-based payment rails can reduce transaction costs, improve settlement speed, and enhance financial access in regions where traditional financial infrastructure can be fragmented.

 

In Africa, where cross-border payments remain among the most expensive in the world and where businesses often face foreign exchange constraints, stablecoins are emerging as a practical tool to facilitate faster international transactions and provide a more reliable store of value for individuals and enterprises operating in volatile currency environments.

IMF’s Bo Zhao said the discussions provided an opportunity to exchange insights on how the financial innovations are unfolding in real markets, particularly in Nigeria, one of Africa’s largest digital asset markets.

Oludimu noted that engagements with international institutions such as the IMF play an important role in ensuring that financial innovation in emerging markets is informed by both local operational realities and evolving global policy frameworks.

He said as stablecoins continue to gain adoption worldwide, collaboration between policymakers, financial institutions, and technology platforms will remain essential to building a secure, transparent, and inclusive digital financial ecosystem.