Economic challenges propel Sub-Saharan Africa to third-fastest crypto growth globally
The cryptocurrency world is changing quickly, and Sub-Saharan Africa is a big part of this. It is now the third region where people are adopting cryptocurrency the fastest. A new report from the blockchain data analytics firm Chainalysis highlights a unique trend in the region: a strong emphasis on real-world crypto use cases, driven by pressing economic challenges like currency devaluation and limited access to traditional financial services. This special environment is making it easy for lots of people to use Web3 technologies.
Between July 2024 and June 2025, Sub-Saharan Africa reportedly received a staggering $205 billion in on-chain value. This represents a significant 52% increase compared to the previous reporting period, cementing its position as a global leader in crypto growth, trailing only the Asia-Pacific and Latin American regions.
The report says there are two ways to grow: getting more people to use it and getting more shops to sell it. There is a lot of interest from institutions in stablecoin flows, with multi-million-dollar transactions often seen between Africa, the Middle East, and Asia. In Sub-Saharan Africa, Nigeria is the most important country in this area, receiving $92.1 billion in the last year. Chainalysis says that Nigeria’s impressive growth is down not just to its large, tech-savvy young population, but also to ongoing inflation and problems getting foreign money, which have made stablecoins an increasingly attractive option for people and businesses. At the same time, South Africa’s better rules have been important in creating a strong crypto market. Companies are moving from just testing to offering more advanced products.
However, it’s the retail crypto use that truly sets Sub-Saharan Africa apart. The Chainalysis report notes that retail adoption in the region has outpaced that in many other parts of the world. During the reporting period, over 8% of all crypto transfers were for $10,000 or less, significantly higher than the 6% seen globally. This high percentage of smaller transactions underscores how ordinary people are using crypto for everyday financial needs.
Like other developing regions, Sub-Saharan Africa faces ongoing challenges. This makes it a good place for cryptocurrency to be used. A lot of people don’t have bank accounts and can’t use normal financial services. Local currencies often lose value quickly or have high inflation. Also, there is not enough foreign money, especially US dollars. This makes US-based stablecoins a very good option for keeping value and for sending money to other countries. Earlier reports by Chainalysis showed that the increase in the use of stablecoins was directly linked to the decrease in the value of local currencies and the difficulty of getting dollars. This meant that stablecoins accounted for a surprising 43% of all crypto transactions in the region.
This challenging financial environment means that crypto in Sub-Saharan Africa isn’t just about investment or speculative yield; it’s about practical, real-world utility. Blockchain technology is being leveraged to address a range of issues, from financial inclusion to energy insecurity, demonstrating its versatile potential far beyond traditional finance. As Eli Ben-Sasson, co-founder and CEO of StarkWare, aptly put it, Africa, with its unique set of challenges and opportunities, is pivotal to achieving true global mass adoption of crypto.
