Sub-Saharan Africa is becoming one of the fastest-growing areas in the cryptocurrency space, demonstrating both retail usage and institutional interest.
Retail Adoption Growth
In March 2025, Sub-Saharan Africa reached a significant milestone of nearly $25 billion in on-chain trading volume in a single month. This surge occurred amid a sharp currency devaluation in Nigeria, prompting people to seek alternative methods for storage and transfers. More than 8% of all crypto transactions in the region are under $10K, indicating that everyday crypto use is more significant here than speculative trading.
Institutional Flows and Regional Leaders
Nigeria continues to dominate cryptocurrency transactions in Sub-Saharan Africa, capturing over $92 billion in value during the reporting period, nearly tripling South Africa's figures. Inflationary pressures and restricted access to the dollar are pushing both retail users and businesses to Bitcoin and stablecoins.
Bitcoin's Impact and Transaction Speed Solutions
Bitcoin remains the primary entry point into cryptocurrency in Sub-Saharan Africa, with 89% of fiat purchases in Nigeria and 74% in South Africa being made through Bitcoin. However, speed and transaction costs present challenges, making solutions like Bitcoin Hyper relevant, aimed at improving these aspects and facilitating faster, cheaper transactions.
Africa is showing dynamic growth in the cryptocurrency space, driven by both retail needs and institutional interests. These developments may influence the future use of cryptocurrencies on a global scale.
