With the way inflation and bank charges are eating into people’s money, some Nigerians are now keeping their savings in stablecoins instead of bank accounts. Unlike Bitcoin, USDT doesn’t rise or fall much, it just mirrors the dollar, so it protects against naira depreciation. But then questions come up, can stablecoins really replace the role of banks? What about safety, regulations, and accessibility when someone needs cash quickly?
I wish it could but you know our country Nigeria politicians and there corruption wouldn't allow that hence there selfish interest . They have proven to be the problem of development in Nigeria as they wouldn't allow any thing that hinders there interest. I think the use of stable coin like usdt would have been a very welcome development but what more can we say .
It will take a revolution in Nigeria for stable coin like usdt to be in use as a legal tender