Cryptocurrency adoption in Africa is growing at a high speed , despite regulatory obstructions, report by cryptocurrency exchange KuCoin shows that crypto transactions increased by up to 2,670% in 2022.
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An astonishing growth trend, the steep influx relates to the low values that have been observed during previous periods. The number of crypto transactions in Africa constitutes roughly 2.8% of global volumes.
Johnny Lyu, CEO of KuCoin, told Cointelegraph that “the adoption of digital assets in Africa will continue to grow exponentially,” adding that “African countries have the highest crypto adoption rate in the world, outperforming even the biggest regions such as the United States, Europe and Asia.”
Nourou, founder of Bitcoin Senegal, is convinced that the thousand percent growth rates for Bitcoin (BTC) adoption “will continue in coming years.”
“Take a look at the way in which cars, mobile phones and consumer electronics took off on the continent. Africa is a continent where lightning-fast progression and adoption is common.”