Experts see stablecoins not as competitors, but as complementary tools to Central Bank Digital Currencies (CBDCs), which could help governments and fintech players address challenges in payments, cross-border transfers, and financial inclusion.
Pegged to traditional assets like the U.S. dollar, stablecoins offer the efficiency of blockchain with the stability of conventional money, enabling faster payments, smoother cross-border transfers, and broader financial inclusion, experts say.
Industry experts at Inclusive FinTech Forum (IFF) 2026 highlighted that, unlike volatile cryptocurrencies such as Bitcoin, stablecoins are increasingly used for digital payments and cross-border transactions, offering faster, cheaper, and more reliable alternatives.
Gabriele Sabbatini, the Chief Executive Officer at Hercle, a European digital asset broker-dealer, said policymakers are exploring how privately issued stablecoins and state-backed CBDCs can coexist, enhancing cross-border payments and expanding financial inclusion within the same financial ecosystem.
“While stablecoins are gaining traction as fast settlement assets for international payments, CBDCs may play a critical role in strengthening domestic payment systems and reaching underserved populations. We see a complementarity between the two, essentially. It isn’t public versus private, it’s public and private together,” Sabbatini.
“By matching cross-border stablecoin settlements with the final settlement of CBDCs, you can deliver a realistic framework for moving funds efficiently. Regulators need to be the first innovators, as they should work with think tanks and early innovators to study new technology and applications before scaling, ensuring frameworks are feasible and scalable.”
Ingrid Cyuzuzo, Director of the Financial Inclusion Department at the National Bank of Rwanda (BNR), emphasized the crucial role of trust and inclusion, highlighting how CBDCs can reach the last mile by serving populations affected by infrastructure challenges.
“At the core, what central banks want to solve when they advance CBDCs is the last mile, reaching people who face internet or electricity limitations, enabling them to transact offline and benefit from the cost and efficiency advantages of digital technology,” said Cyuzuzo.
“If CBDCs establish the foundation of trust within the financial ecosystem, they can, in turn, support the introduction of local stablecoins. CBDCs provide this initial confidence as they are government-backed, while local currency-backed stablecoins can coexist alongside them, fostering a resilient digital ecosystem.”
Trust, she noted, will remain central as more local stablecoins enter the market.
Eddy Nicolai, the Co-Founder and Chief Operating Officer at Nala, a Fintech Company, highlighted the value of regulatory sandboxes as a practical way to balance innovation with consumer protection.
“Sandboxes allow regulators and innovators to test new technologies, pilot financial products, and refine frameworks before scaling them across the broader market. Start with what you can manage and move progressively. Sandboxes allow you to test technology, protect consumers, and innovate without being constrained,” he said.
Nicolai added that sandboxes provide an essential environment to establish trust and authenticity in digital assets.
“By carefully testing digital assets and innovations in a controlled environment, you ensure that stronger market players don’t unfairly influence outcomes. It’s about building a foundation for trust before scaling.”
He also emphasized that sandbox approaches are critical for cross-border interoperability, particularly in Africa’s fragmented payments ecosystem.
“By piloting solutions within a sandbox, regulators can observe how stablecoins and CBDCs operate in practice, identify potential risks, and design frameworks that protect consumers while supporting innovation.”
Owureku Asare, the Head of Fintech and Innovation Office at Bank of Ghana, shared ongoing pilots between Ghana and Nigeria, demonstrating practical steps toward interoperability.
“We are currently piloting fintech-led cross-border exchanges, showing the potential for stablecoins and CBDCs to work together while enhancing regional integration,” he said.
“By combining the regulatory oversight of central banks with the innovation and agility of fintech players, governments can design systems that are not only technologically advanced but also accessible to underserved populations and capable of withstanding operational and infrastructural challenges.”
Experts highlighted that the public and private sectors must collaborate to build an inclusive, efficient, and resilient digital finance ecosystem.
