Mastercard research: Nigerian SMEs among global leaders in crypto, stablecoin and cybersecurity adoption
Nigerian small businesses lead 18 markets in crypto, stablecoin and cybersecurity adoption, Mastercard Dreamonomics report finds More than a third of Nigerian SMEs (34%) accept cryptocurrency, over twice the next-highest market, and 83% are excited about what AI can do for their business Eight in 10 Nigerian SMEs (81%) say cyber protection is a high […]
A new Mastercard research report reveals Nigerian small and medium-sized enterprises (SMEs) are among the top adopters of cryptocurrency, stablecoins, and cybersecurity measures across 18 global markets. More than a third of Nigerian SMEs (34%) now accept cryptocurrency as payment, above the global average of 13%. Additionally, 83% of these businesses express excitement about the potential of AI to enhance their operations.
An impressive 81% of Nigerian SMEs prioritize cybersecurity, with 47% already utilizing cybersecurity tools - the highest rate among the surveyed markets. Gabriel Swanepoel, executive vice president and division president for Africa at Mastercard, emphasized that Nigerian entrepreneurs have consistently embraced new technologies when they help them serve customers or pay suppliers.
The report also highlights that cybersecurity is built into the day-to-day operations of Nigerian SMEs, with 47% using antivirus software and firewalls - the highest rate globally. Moreover, nearly half (47%) of these businesses employ cybersecurity tools like antivirus and firewalls, significantly above the global average of 37%.
As Nigeria's digital asset landscape evolves, with the Central Bank of Nigeria recently opening applications for its Regulatory Sandbox Programme for virtual asset service providers, Mastercard is actively supporting this momentum by collaborating with Pan-African digital asset exchange Busha to introduce Mastercard Crypto Credential.
This enables Nigerian SMEs to transact with digital assets using verified aliases, enhancing trust and simplicity in digital asset transfers.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
