Blockchain payment giant Ripple issued a new report focusing on the growth and adoption of digital assets across Africa, driven by key regulatory changes that the firm says have prompted it to offer crypto solutions to “power Africa’s expanding digital economy.”
The study finds that roughly eight African nations have already adopted crypto-specific rules, with several more moving toward formal frameworks.
South Africa’s Policy Advances
Ripple highlights a nascent regional coordination: clearer regimes in major markets are beginning to serve as templates for neighboring countries, and cross-border fintech initiatives are fostering “a more harmonized ecosystem.”
That regulatory momentum, the report argues, is underpinning concrete growth in on-chain activity and practical uses for digital assets across the continent.
The company reviews several national developments in detail. South Africa, Ripple notes, adopted a comprehensive framework in June 2023 that treats certain crypto assets as financial products.
Under the new rules, Crypto Asset Service Providers (CASPs) in the country must be licensed and answer to both the Financial Sector Conduct Authority and the Financial Intelligence Centre.
Johannesburg has also implemented the Financial Action Task Force’s Travel Rule and is continuing to explore policy for stablecoins and tokenization through its Intergovernmental Fintech Working Group.
Clearer Crypto Oversight
Kenya, the report says, has moved rapidly from proposals to law. A draft Virtual Asset Service Providers Bill introduced by the National Treasury in March 2025 became law in October 2025, transferring supervisory responsibility to the Central Bank of Kenya and the Capital Markets Authority.
The country is conducting nationwide consultations on implementing regulations, and Ripple expects Kenya’s framework to be influential for the region in 2026 as it builds out its digital asset infrastructure.
Mauritius is presented as an early adopter. Its VAITOS Act of 2021 set one of Africa’s first comprehensive regimes, with rigorous anti-money laundering (AML) and counter‐terror financing rules. Ripple notes that Mauritius issued additional guidance on stablecoins in the past year and is exploring a fuller regulatory regime for them.
Nigeria, long one of Africa’s largest crypto markets, also appears to be formalizing its approach. The Investments and Securities Act 2025 recognizes digital assets as securities under the oversight of the Nigerian Securities and Exchange Commission (SEC).
The Central Bank of Nigeria has also eased earlier restrictions on banks working with licensed digital‐asset providers and launched a supervision pilot for several virtual asset service providers (VASPs). Ripple frames these moves as a substantial policy shift aimed at supporting innovation while protecting consumers.
Ripple Details Regional Regulation Progress
Beyond these examples, Ripple documents a wider movement. Ghana’s central bank has begun registering virtual asset service providers as an initial step, and countries including Botswana, Namibia, and Seychelles have taken steps toward crypto-specific policy.
Other jurisdictions — Ethiopia, Morocco, Rwanda, Tanzania, and Uganda, among them — are actively assessing regulatory options. The report stresses that this patchwork of reforms is converging toward greater clarity and interoperability across borders.
The report further highlights striking on-chain growth: Sub‐Saharan Africa recorded more than $205 billion in on-chain value between July 2024 and June 2025, a 52% year‐over‐year increase that ranked the region among the fastest‐growing crypto markets worldwide.
Nigeria and Ethiopia, Ripple points out, ranked in the Top 15 of the 2025 Global Crypto Adoption Index, underscoring strong grassroots demand for digital assets.
Featured image from OpenArt, chart from TradingView.com
