Crypto markets worldwide witness Sub-Saharan Africa's rise to third place
South Africa is making waves in the cryptocurrency world, with the Financial Sector Conduct Authority granting licenses to crypto service providers. This move is a significant step towards regulating and fostering the growth of the digital asset industry in the country.
Meanwhile, an investment firm, Altvest Capital Ltd., is planning to make history by raising $210 million to buy Bitcoin as a treasury reserve. If successful, Altvest could become the first listed African company to make Bitcoin its core balance sheet holding.
The cryptocurrency scene in Africa is not limited to South Africa. Mariblock is launching the OnChain Conference, a flagship event focused on Africa's blockchain future. The inaugural OnChain Conference will take place on November 5-6, 2025, at the Jewel Aeida in Lagos, in partnership with Busha. The theme for this year's conference is "The Next Wave," and it will explore various topics such as stablecoins, payments, FX, tokenized real-world assets, regulation, blockchain use cases, and the continent's growing talent pipeline. The registration link for the OnChain Conference can be found at bit.ly/OnChaintickets.
Sub-Saharan Africa (SSA) is now the third-fastest-growing cryptocurrency market globally. Between July 2024 and June 2025, SSA received over $205 billion in on-chain value, a 52% increase from the year before. Nigeria led the region with $92.1 billion in value, almost three times South Africa's. Stablecoins now account for 43% of SSA's crypto transaction volume, with USD-backed stablecoins dominating the market, making up 99% of the market.
Bitcoin dominates entry points in SSA, with 89% of purchases in Nigeria and 74% in South Africa. Regional alternatives like Circle's euro-pegged EURC and Nigeria's cNGN are starting to emerge, providing more options for users in the region.
The growth of the cryptocurrency market in Africa is not without its challenges. AFAN's blockchain partnership has sparked concerns over Tingo connection. Meanwhile, there is a community-led adoption strategy for Solana in Nigeria, as part of Superteam Nigeria.
In an effort to increase accessibility, Luno has expanded access to tokenized US stocks to Nigeria. Ripple has also brought stablecoin RLUSD to Africa in partnership with Chipper Cash, VALR, and Yellow Card.
As Africa continues to embrace the world of cryptocurrencies, it's clear that the continent is poised for significant growth in this exciting and dynamic field. The OnChain Conference promises to be an exciting event that will bring together industry leaders, innovators, and enthusiasts to discuss the future of blockchain technology in Africa.
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