Ibadan, Nigeria — In a nation that ranks second globally for cryptocurrency adoption, the latest educational initiative by Tether and NODO marks a significant step toward broader financial inclusion. Hosted at Hybrid Heights, Ibadan City, on January 25, 2025, the event brought together 64 participants against the backdrop of Nigeria's flourishing crypto ecosystem, where stablecoins account for 43% of all cryptocurrency transactions.

Meeting a Growing Demand

The event, "Tether & the Role of Stablecoins in Crypto Adoption," arrived at a crucial moment in Nigeria's financial evolution. With approximately $59 billion in cryptocurrency transactions recorded in the year leading to June 2024 and a 9% year-on-year growth, the need for educated participation in the crypto economy has never been more pressing. This is particularly relevant in a country where 47% of adults aged 18-64 have engaged with cryptocurrency—a rate that significantly outpaces both the United States (16%) and India (27%).

Practical Education for Real-World Applications

A distinguished panel of speakers, including Emeka Samuel (Founder, IBC), Abdullah Ige (Affiliate Lead of NODO), Ayomide Elijah (Founder, BEL TECH), and Bayonle Onadiran (Sir Young Technologies), addressed the practical applications of stablecoins in Nigeria's context. The discussions particularly resonated with attendees given the naira's recent 50% depreciation against the dollar, highlighting stablecoins' role in wealth preservation.

The hands-on workshop proved particularly valuable, focusing on essential skills such as creating crypto wallets, acquiring and utilizing Tether, and navigating the NODO platform. Participants received step-by-step guidance on Phantom wallet setup, USDT management on the Polygon network, and token swap execution—practical skills crucial for participating in the growing DeFi ecosystem, which processed over $30 billion in Nigeria last year.

Measurable Impact and Engagement

The event's success manifested in tangible outcomes, with 64 new NODO wallet downloads recorded during the session. Social media engagement reflected the broader interest, generating 1,530 impressions across platforms, with 20 event-related posts capturing the day's momentum. The hashtag garnered 81 likes, 60 retweets, and 59 comments, contributing to the ongoing dialogue about stablecoin adoption in Nigeria.

The demographic breakdown of attendees—70% crypto enthusiasts, 27% developers, 2% retail traders, and 1% OTC merchants—mirrors the diverse interest in stablecoins across Nigeria's young population, which has an average age of 17.2 years.

Community Response and Future Outlook

JCI Hannat Popoola highlighted the collaboration's effectiveness, while speaker Abdullah Ige emphasized the event's role in Web3 education. These perspectives gain additional weight considering that stablecoins offer approximately 60% lower costs for cross-border remittances compared to traditional methods—a significant advantage in Nigeria's growing digital economy.

Building for the Future

As Nigeria continues to lead Africa's crypto adoption, with stablecoins playing an increasingly central role in everyday transactions from bill payments to mobile top-ups, events like these serve as crucial stepping stones toward wider adoption. The partnership between Tether and NODO demonstrates their commitment to addressing the existing knowledge gap, which is particularly important given recent regulatory changes, including the Central Bank of Nigeria's lifted ban on banks dealing with cryptocurrency companies.

The success of this Ibadan event, following their previous gathering in Ghana, reinforces the partnership's role in building a more inclusive financial ecosystem across Africa. Through continued education and practical training, they're helping to unlock the full potential of stablecoins to address Nigeria's unique financial challenges while fostering greater economic inclusion.