South Africa Leads Africa in Merchant Crypto Payment Adoption in 2025, Ranks 6th Globally
South Africa has emerged as Africa’s leader in cryptocurrency payment adoption, boasting 584 merchant locations accepting crypto payments in 2025. This milestone not only establishes South Africa as the most crypto-friendly country in Africa for businesses but also secures its position as the sixth-largest globally in merchant crypto payment adoption.
Global and African Crypto Payment Trends
According to a recent report, global cryptocurrency adoption by merchants has witnessed a significant surge, growing from 8,571 locations in 2023 to 12,834 in 2024—a staggering 50% increase in just one year.
Africa has also seen remarkable growth, with the number of merchants accepting cryptocurrencies increasing from 528 in 2023 to 748 in 2024, highlighting the continent’s accelerating shift towards digital asset-based transactions. South Africa leads the charge, with 584 locations currently accepting crypto payments, showcasing its dominance in Africa and underscoring the country’s progressive stance on blockchain-based financial solutions.
South Africa also recorded the highest increase in crypto merchant adoption on the continent, with 115 new businesses integrating cryptocurrency payments in 2024.
Breakdown of Crypto Merchant Adoption in Africa
While South Africa leads the pack, other African countries are also embracing cryptocurrency payments at a growing rate. Here’s a breakdown of Africa’s leading nations for merchant crypto adoption:
- Kenya – 74 merchants (61 new in 2024)
- Tanzania – 30 merchants
- Uganda – 17 merchants
- Ghana – 9 merchants
Surprisingly, Nigeria, Africa’s most populous nation and a recognized leader in cryptocurrency adoption per the 2024 Chainalysis Crypto Adoption Index, did not make the list of top merchant adopters. This contrast highlights a potential gap between retail crypto trading and real-world business adoption.
Brazil Leads Globally, While Europe Sees the Largest Growth
On a global scale, Brazil leads the world in crypto payment adoption, boasting 1,292 merchant locations, a strong indicator of cryptocurrency’s role in emerging markets. The United States and El Salvador follow closely behind.
Meanwhile, Europe remains the epicenter for crypto payments, witnessing the highest numeric increase with 2,029 new merchant locations in 2024 alone. This growth demonstrates a rising institutional and commercial acceptance of cryptocurrencies across the continent.
Why Businesses Are Embracing Crypto Payments
Businesses that have integrated cryptocurrency payments are reaping significant benefits, as evidenced by the report’s findings:
- 88.2% of business owners reported increased revenue after introducing crypto payment options.
- 75.7% of merchants are choosing to retain their crypto earnings as investments, showcasing growing confidence in the long-term value of digital assets.
Top 3 Reasons Businesses Accept Crypto Payments
- Faster & Borderless Payments (40.7%) – Crypto allows businesses to process international transactions swiftly without traditional financial barriers.
- Customer Demand (29.8%) – Increasingly crypto-savvy consumers are driving businesses to integrate digital asset payments.
- Asset Accumulation (21.0%) – Merchants are embracing cryptocurrencies as an investment tool, holding onto their digital assets rather than converting them immediately.
Study Methodology
The study was conducted using data from BTCMap.org to track global cryptocurrency payment adoption. Additionally, a survey of 1,009 business owners who accept cryptocurrency payments was carried out via the Prolific platform to gather deeper insights into market trends.
The data collection period for the study took place between February 28, 2025 – March 7, 2025.
Conclusion
South Africa’s rise as Africa’s top nation for merchant crypto payment adoption is a testament to the country’s progressive stance on digital assets. With global adoption soaring and businesses reporting increased revenue from crypto transactions, the future of crypto payments in Africa looks promising. As more African nations embrace digital currencies for commerce, cryptocurrency could soon become a mainstream financial tool for businesses across the continent.
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