The Chainalysis report indicates that Sub-Saharan Africa is the third fastest-growing region for cryptocurrency adoption due to its unique economic conditions.
Overview of Cryptocurrency Adoption
According to the report, from July 2024 to June 2025, the region received $205 billion in on-chain value, a 52% increase from the previous reporting period.
Institutional Adoption and Resilience
During the reporting period, growth in institutional adoption was notable, especially with stablecoins facilitating million-dollar transactions. Nigeria, for instance, received $92.1 billion over the year, driven by both population scale and foreign currency access issues.
Retail Usage and Real-World Cases
Retail crypto transfers in the region accounted for over 8% of all transfers for $10,000 or less. Challenges with traditional finance and local currencies are prompting increased cryptocurrency use.
Cryptocurrencies are becoming a vital tool for inhabitants of the region as they face economic challenges and limited access to traditional financial services.
