Stablecoins drive Africa’s growing crypto economy

Sub-Saharan Africa’s cryptocurrency ecosystem is undergoing a commercial shift, with businesses increasingly adopting digital currencies such as stablecoins to bypass high fees and delays associated with traditional financial infrastructure.

According to Chainalysis 2026 Geography of Crypto Report, covering the 2025–2026 reporting period, the region’s crypto economy grew 13.4% to $101 billion, making it the fastest-growing globally.

The growth came as other markets contracted. North America’s crypto economy shrank by 2.2%, Central and Southeast Asia declined by 6.8%, and the Middle East and North Africa fell by 1.4%.

Corporate activity also increased, with active intra-regional crypto payment corridors connecting businesses nearly doubling from 80 to 152. Of these, 95 recorded flows in both directions.

In an interview with ITWeb Africa, Philip Adiamah, Chainalysis’ regional manager for Africa, said business adoption was increasingly driven by operational needs rather than speculative trading.

“Some of the main practical benefits include access to dollar-denominated value and the ability to transfer funds 24/7, including outside banking hours. These features can help businesses and individuals navigate currency barriers, restrictions on traditional banking hours, and fragmented payment systems.”