finance
Nearly 8 Million South Africans Used Cryptocurrency in First Half of 2025
A report found that 7.8 million South Africans used cryptocurrency platforms during the first six months of 2025. More than two-thirds of those surveyed said they were roughly familiar with crypto. South Africa regulates crypto as a financial instrument and taxes gains and losses as income.
May 6, 8:46 AM·1m read1 source
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Around 7.8 million South Africans used cryptocurrency platforms in the first six months of 2025, according to a report. The figure reflects widening adoption of digital assets in the country. More than two-thirds of those surveyed said they were roughly familiar with crypto.
Mobile-first platforms played a key role in broadening consumer access. South Africans increasingly see cryptocurrencies as an investment option to supplement traditional assets like stocks and properties. The country regulates crypto as a financial instrument and taxes consumers' gains and losses as part of usual income assessments.
Only Nigeria's crypto market is larger than South Africa's in sub-Saharan Africa, according to data firm Chainalysis. Growth in business-to-business transactions has emerged as a crucial driver for adoption.
