Sub-Saharan Africa has emerged as the third-fastest growing region for cryptocurrency adoption, according to a report by Chainalysis. The region experienced a 52% increase in onchain value, receiving $205 billion between July 2024 and June 2025, primarily driven by Nigeria, which accounted for $92.1 billion of this value. Factors contributing to this growth include economic instability, currency devaluation, and a large unbanked population, making cryptocurrencies, particularly stablecoins, attractive alternatives. Retail crypto usage is also notable, with over 8% of transactions being for $10,000 or less, compared to 6% globally. South Africa's regulatory framework has supported institutional crypto activity, transitioning from exploration to development of more advanced products. The report suggests that the financial landscape in Sub-Saharan Africa encourages pragmatic usage of cryptocurrencies, departing from investment speculation common elsewhere, with potential impacts extending beyond finance itself.

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