The number of crypto users in Africa has grown by 2500% in one year

The number of digital asset transactions in some countries of the continent has increased by 2670%

22.03.2022 - 07:00

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What’s new? The number of digital asset holders has increased by 2500% in one year, according to the KuCoin exchange. The number of crypto transactions in some countries in Africa has increased by 2670%.

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What other data does the report contain? Cross-border transfers have become the most popular method of dealing with cryptocurrencies. The fees on fiat transfers between countries and the high level of inflation in the continent as a whole have contributed to this.

Africa remains a region with little impact on the global economy. The continent’s share of the total volume of crypto transactions is 2,8%. Johnny Lyu, CEO of KuCoin, predicts further adoption of new technologies and their growth exponentially.

“Financial problems the region is experiencing are forcing people to look for new instruments and technologies that can give them some of the economic freedom they currently lack,” Lyu stressed.

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