Chainalysis: Sub-Saharan Africa has become the third fastest growing region for crypto adoption worldwide

According to a recent Chainalysis report, Sub-Saharan Africa has become the third-fastest-growing region in the world for crypto adoption, with on-chain capital inflows reaching $205 billion over the past year, a 52% year-on-year increase, second only to Asia-Pacific and Latin America. The report notes that this growth is driven by stablecoins, with Nigeria leading the way with $92.1 billion, as inflation and foreign exchange shortages make stablecoins more attractive. Chainalysis states that the local financial environment has led the region to focus on real-world applications rather than pure speculation or profit.