As inflation and currency turmoil intensify in sub-Saharan Africa and Turkey, crypto usage is surging, marking a pivotal shift that will give Ripple new momentum in expanding its footprint in these rapidly evolving markets.
Ripple sees incredible traction as Africa and Turkey reshape demand
Earlier this week, Ripple executive Reese Merrick shared on social media platform Merrick, Ripple’s director of Middle East and Africa, highlighted the changes as the regulatory structure continues to evolve.
“Sub-Saharan Africa and Turkey are adopting cryptocurrencies faster than almost anywhere else,” he said, setting the tone for his assessment of two rapidly changing markets. He explained:
In a region plagued by inflation, currency collapse, and financial exclusion, cryptocurrencies are more than just hype. It’s a must have.
Mr. Merrick detailed regional trends. “Let’s break it down: Sub-Saharan Africa: Transaction value exploded 52% to $205 billion (July ’24 to June ’25), with stablecoins accounting for 43% of transaction volume.” According to blockchain data analysis firm Chainalysis, sub-Saharan Africa’s crypto activity reflects grassroots adoption and the growing role of cryptocurrencies in everyday financial use. From July 2024 to June 2025, the region received more than $205 billion in on-chain value, an increase of approximately 52% year-on-year, making it the third fastest-growing region in the world after Asia-Pacific and Latin America.
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He continued, “Why? Hyperinflation (e.g. over 30% in Nigeria) and unbanked masses (over 50% of adults) have made the use of cryptocurrencies (especially stable currencies) a hedging and remittance tool.” His commentary then turned to Turkey: “Turkey: A plunge in the lira (80% devaluation since 2021) and 70% inflation has led to a crypto boom. More than 50% of adults reportedly own cryptocurrencies.”
Noting the growing regional use of the XRP Ledger (XRPL) and stablecoin solutions for remittances, Merrick concluded:
Regulation is progressing in both jurisdictions, and Ripple is seeing significant traction.
While critics say cryptocurrencies remain unstable, supporters argue that Bitcoin, Ethereum and stablecoins can still provide more reliable purchasing power than rapidly depreciating national currencies.
FAQ ⏰
- What is driving the adoption of cryptocurrencies in sub-Saharan Africa?
Inflation, currency instability, and high unbanked interest rates are driving residents toward stablecoins and digital assets. - How much has crypto trading grown in sub-Saharan Africa?
Intra-regional trade increased by 52% from July 2024 to June 2025 to $205 billion. - Why are cryptocurrencies popular in Türkiye?
The weakening lira and rising inflation have encouraged widespread use of digital assets. - What role does Ripple play in these regions?
Ripple is expanding its XRPL and stablecoin-based remittance solutions as regulations evolve.
