Authors : Olugbenga F. Akomolehin; Aluko, Olufemi Rufus

Volume/Issue : Volume 11 - 2026, Issue 10 - October

Google Scholar : https://tinyurl.com/yxxhtmp6

DOI : https://doi.org/10.38124/ijisrt/26Oct148

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Abstract : This study examined regulatory readiness and holder protection for stablecoins and tokenised deposits in Nigeria, Kenya, South Africa and Ghana, focusing on cross-border investment settlement. It adopted a comparative documentary regulatory design supported by directed content analysis and an instrument-sensitive assessment framework comprising twelve criteria. The analysis covered regulatory developments from January 2020 to September 2026, including earlier legislation that remained applicable. It distinguished operative provisions from proposals and separated legal recognition, provider authorisation and substantive protection. The qualitative findings identified different regulatory pathways but showed that general virtual-asset recognition did not independently establish comprehensive reserve, redemption, custody or insolvency safeguards. Stablecoins required assessment of issuer obligations and backing arrangements, whereas tokenised deposits required separate examination of banking protections, transfer validity and resolution treatment. Crossborder use additionally raised questions about foreign-exchange compliance, settlement finality and supervisory coordination. The study proposed a responsible-use framework connecting functional classification, financial backing, enforceable claims, secure intermediation and cross-border accountability. Its contribution lay in distinguishing documented regulatory coverage from enforcement effectiveness and provider licensing from protection of underlying financial claims. The study concluded that settlement benefits depended on legally reliable arrangements and instrumentspecific safeguards. It did not establish increased investment flows or definitive country rankings. Future research should combine provision-level scoring with supervisory evidence, transaction data and holder outcomes to assess regulatory effectiveness in practice.

Keywords : Stablecoins; Tokenised Deposits; Regulatory Readiness; Holder Protection; Cross-Border Investment; Africa.

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