Africa is one of the most active regions for peer-to-peer crypto trading, because many people use stablecoins to protect savings from local currency swings and to move money across borders cheaply.

Nigeria

The securities regulator has moved to bring crypto assets under its supervision, and the country has some of the highest crypto usage in the world.

South Africa

The financial regulator classed crypto assets as financial products in 2022, so platforms need a licence to operate.

Kenya

Kenya has built a licensing framework for crypto businesses and mobile money gives its users an easy on-ramp. See our Kenya regulation guide.

Why peer-to-peer trading dominates

Bank access, card limits and currency controls push many Africans toward peer-to-peer markets, where a buyer pays a seller by mobile money or bank transfer and an escrow holds the coins until payment is confirmed. That model works without a local exchange licence, but it puts the burden of checking the other side on the user.

What to watch in African crypto

Three developments drive most of our African coverage: licensing rules for exchanges, new tax treatment, and stablecoin payment tools that connect to mobile money. Each country moves at its own speed, so the same headline can mean something different in Lagos, Nairobi and Johannesburg. We name the country in every story and link the regulator’s own statement when one exists.

How to stay safe

Use licensed platforms where they exist, keep payment screenshots, and treat guaranteed-return offers as scams. Our security guide covers the common tricks.

African crypto stories

Questions readers ask

Why is stablecoin use high in Africa?

People use them to hold dollar value and to send money at lower cost than many bank transfers.