Sub-Saharan Africa is now the world’s third-fastest growing crypto market, fueled by inflation, weak currencies, and real-world use.
Sub-Saharan Africa is the third-fastest growing region for crypto adoption, according to a new Chainalysis report. Between July 2024 and June 2025, the region received $205 billion in onchain value, a 52% jump from the previous year.
Institutional and Retail Momentum
Nigeria led the way, attracting $92.1 billion, thanks to inflation and foreign currency shortages that made stablecoins attractive.
South Africa’s regulatory framework has fostered a strong institutional crypto market, shifting from exploration to custody and product offerings.
Retail adoption is rising fast: 8% of transfers were $10,000 or less, compared to 6% globally.
Why Crypto Fits Africa
Analysts point to persistent currency devaluation, high inflation, unbanked populations, and dollar shortages as key drivers. Stablecoins accounted for 43% of all transaction volume during the period.
Chainalysis said Africa’s adoption is more about real-world utility than speculation, with blockchain already used in areas beyond finance, including energy insecurity.
Eli Ben-Sasson, CEO of StarkWare, emphasized: “Africa, with its unique challenges, is key to crypto mass adoption.”
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