Chainalysis: Sub-Saharan Africa has become the third fastest growing region for crypto adoption in the world

According to the latest report by Chainalysis, sub-Saharan Africa has become the third fastest crypto-adoption growth region in the world, with on-chain capital inflows reaching US$205 billion in the past year, a year-on-year increase of 52%, second only to Asia Pacific and Latin America. The report notes that growth in the region is driven by stablecoins, with Nigeria leading the way with $92.1 billion as inflation and foreign exchange shortages make the stablecoin more attractive. Chainalysis said that the local financial environment makes the region focus more on real application scenarios than simply speculation or returns.