Nigeria and Ethiopia are leading cryptocurrency adoption in Sub-Saharan Africa, according to a new report by Ripple.
Both countries ranked among the top 15 globally in digital asset adoption, highlighting the region’s growing role in the crypto economy.
Nigeria placed 6th in the 2025 Global Crypto Adoption Index, while Ethiopia ranked 12th.
The report shows Sub-Saharan Africa recorded $205 billion in onchain transactions between July 2024 and June 2025. This is a 52% rise from the previous year.
In Nigeria, regulation is also evolving. The Investments and Securities Act 2025, a Investments and Securities Act 2025, now recognises digital assets as securities under the Nigerian Securities and Exchange Commission.
The Central Bank of Nigeria has also eased restrictions on banks working with licensed crypto firms. It has also launched a supervision pilot for virtual asset service providers.
ALSO READ: Microsoft to invest $10bn in Japan to boost AI, cyber defence
Ripple said these changes show a shift toward clearer rules that support innovation while protecting users.
The report links rising adoption to weak cross-border payment systems and high transaction costs in the region.
Africa also remains a global leader in mobile money, with the continent accounting for about 70% of the $1 trillion global market.
Stablecoins are also becoming more widely used for payments and trade, due to faster settlement and lower costs compared to traditional banking systems.