Sub-Saharan Africa saw $205.7 billion in on-chain transactions over the past year, driven by inflation and currency devaluations.
Sub-Saharan Africa recorded $205.7 billion in on-chain cryptocurrency transactions between July 2024 and June 2025, a 51.7% increase from the prior year. Nigeria alone accounted for $92.1 billion of the total, reflecting growing reliance on digital assets amid economic instability.
The surge is attributed to hyperinflation, collapsing local currencies, and high remittance costs, which have made traditional financial systems less viable. While Web3 platforms offer open access, critics argue they lack safeguards for users unfamiliar with the technology, risking financial losses.
Despite these risks, crypto adoption continues to rise in regions where conventional banking fails to meet demand. The trend highlights both the potential and limitations of decentralized finance in addressing financial inclusion.