Google has granted $1.7 million to Nigeria's Ministry of Communications, Innovation, and Digital Economy to further AI talent development, aligning with Google's $5.8 million commitment to digital skills in Sub-Saharan Africa.
African Telegram crypto communities have expanded by 183% since 2023, according to Bitget. Despite the potential benefits of crypto projects for users in Sub-Saharan Africa, government opposition remains, especially in countries like Nigeria.
Stablecoins dominate 43% of crypto transactions in Sub-Saharan Africa, surpassing Bitcoin's 18.1%. This rise is driven by local currency instability and US dollar shortages, making stablecoins a preferred method for value storage and international payments.
Stablecoins are revolutionizing Sub-Saharan Africa's economy, accounting for 43% of cryptocurrency transactions as they provide stability against economic challenges like devaluation and inflation.
Stablecoins are becoming a popular tool for combating currency devaluation in Sub-Saharan Africa.
Sub-Saharan Africa crypto market reached $125 billion between July 2023 and June 2024, with 43% of transactions in stablecoins.
Chainalysis reports that stablecoins now account for 43% of crypto transactions in sub-Saharan Africa, driven by local currency depreciation.
Bitcoin reaches a new all-time high as decentralized finance (DeFi) gains popularity in regions like Sub-Saharan Africa, Latin America, and Eastern Europe due to economic instability and weak banking systems.
The rise of decentralized finance (defi) is particularly strong in regions with weak banking systems, offering financial services that traditional institutions do not provide. However, fragmentation remains a hurdle for wider adoption.
