Crypto Adoption in Sub-Saharan Africa Surges, Driven by Real-World Needs

Sub-Saharan Africa: A Growing Hub for Crypto Adoption

Sub-Saharan Africa is the third-fastest growing region for cryptocurrency adoption globally, according to a recent report by blockchain data platform Chainalysis. The report highlights the importance of real-world crypto use cases in the region, driven by challenges such as currency devaluation, lack of traditional financial infrastructure, and more.

Between July 2024 and June 2025, Sub-Saharan Africa received $205 billion in on-chain value. This represents a 52% increase compared to the previous reporting period, making the region the third-fastest growing for crypto adoption, trailing only Asia-Pacific and Latin America.

The region experienced growth in institutional adoption during this period, driven by stablecoin flows, which accounted for million-dollar transactions between Africa, the Middle East, and Asia. Nigeria led the way in Sub-Saharan Africa in terms of institutional momentum, receiving $92.1 billion in value over 12 months.

Chainalysis noted that Nigeria’s scale is not only tied to its population and tech-savvy youth but also to persistent inflation and foreign currency access issues that have made stablecoins an attractive alternative.

However, South Africa's advanced regulatory framework has contributed to fostering a strong institutional crypto market. Institutional players are now moving from exploration to custody and other product offerings.

Retail Adoption Driven by Real-World Use Cases

Chainalysis's report indicates that retail crypto usage in Sub-Saharan Africa has outpaced that in other regions. During the reporting period, over 8% of all crypto transfers were for $10,000 or less, compared to 6% of transfers in the rest of the world.

Sub-Saharan Africa, like many regions full of developing nations, faces challenges that make it well-suited for crypto adoption: a significant unbanked population lacking access to traditional financial services, local currencies that devalue rapidly or experience persistently high inflation, and a scarcity of dollars that can make US-pegged stablecoins more appealing.

Referencing its previous report covering July 2023 to June 2024, Chainalysis analysts noted that stablecoin adoption in the region points to a direct devaluation of the local currency. Finding dollars had become difficult during that period, making stablecoins attractive and contributing to their 43% share of overall crypto transaction volume.

The financial environment in the region may be causing it to deviate from other regions, fostering more real-world crypto use cases compared to a focus on yield or as an investment instrument.

StarkWare co-founder and CEO Eli Ben-Sasson wrote that Africa, with its unique challenges, is key to crypto mass adoption. Blockchain technology is being used in Africa to address energy insecurity, among other issues beyond finance.