Overview

• Chainalysis ranks the region as the world’s third-fastest-growing crypto market for the year to June 2025.
• Nigeria leads with about $92.1 billion in value, including a sharp March surge after a currency devaluation pushed monthly activity near $25 billion.
• Small transfers underpin usage, with more than 8% of value coming from transactions under $10,000, signaling strong retail adoption.
• Bitcoin remains the primary on-ramp, accounting for 89% of fiat purchases in Nigeria and 74% in South Africa, while stablecoins exceed 40% of regional transaction volume.
• South Africa’s clearer rules have enabled hundreds of licensed providers, and Absa Bank is reported to be advancing crypto custody and stablecoin offerings.