Sub-Saharan Africa’s Crypto Market Surges with Retail Transactions
Sub-Saharan Africa's cryptocurrency market has surged by 52% to reach $205 billion, driven largely by retail transactions. This growth cements the region as the third fastest-growing crypto market globally, trailing only Asia-Pacific and Latin America, according to a Chainalysis report.
Retail activity dominates, with over 8% of transfers valued under $10,000—significantly higher than the global average of 6%. Cryptocurrencies are increasingly serving as vital financial tools in a region where traditional banking penetration remains low, despite widespread mobile money adoption.
Nigeria and South Africa are leading the charge. Nigeria alone accounted for $92.1 billion in crypto value received, as citizens turn to stablecoins to hedge against currency devaluation and inflation.
