Small retail payments in Sub-Saharan Africa are powering exceptional crypto adoption and usage, with the region conducting the world’s highest proportion (80%) of crypto retail payments under $1,000, according to a report by blockchain data firm Chainalysis.
The report also highlights how peer-to-peer transactions are more common in Sub-Saharan Africa than anywhere else in the world. At about 6% of all crypto transaction volume, Africa’s peer-to-peer transactions dwarf those of Central and Southern Asia and Oceania, the region with the second-highest volume in that category.
Many Africans have integrated crypto into everyday life, the report says. Besides retail transactions, remittances and commercial transactions have also been key drivers for Africa’s high adoption and usage rates.
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