The rise of stablecoins has triggered concerns among global policymakers, particularly in developing nations. Gita Gopinath, Deputy Director of the International Monetary Fund (IMF), highlights how these digital currencies are impacting global monetary policy, exceeding existing challenges posed by the COVID-19 pandemic and U.S. trade policies under former president Donald Trump. 250 billion dollars has been issued in stablecoins since their inception, reflecting a dramatic increase in usage, with $2 trillion in transactions recorded just last month alone, marking a staggering 44-fold jump since mid-2020. 2023 data shows that India and Brazil show a minimal adoption of stablecoins at only 5.9% of overall flow, suggesting slower adoption in emerging economies. This contrasts with Nigeria where stablecoin usage is increasing rapidly, although actual daily use remains relatively limited according to Chris Maurice from Yellow Card.