The currency for all? Grass-roots drives crypto adoption rate in Africa fastest in the world
SETH ONYANGO, BIRD AFRICA amassed 105.6 billion dollars worth of cryptocurrencies in forecasts for the year ending June 2021, driven by peer-to-peer (P2P) transactions in key growth markets. Markets like Kenya, Nigeria, South Africa, and Tanzania had some of the highest grass-roots adoptions in the world and ranked in the top 20 Global Crypto Adoption Index. Digital analytics firm, Chainalysis’s latest figures show transactions volume made up of retail-sized transfers in Africa was 7 per cent, against the global average of 5.5 per cent. “No region uses P2P platforms at a higher rate than African cryptocurrency users, as they account…