The popularity of crypto is on the rise in Africa, according to the CEO of one of the continent’s up and coming exchanges.
Crypto usage and trading has made its way over to Africa, gaining prevalence all over the continent, according to Chris Maurice, CEO of Yellow Card — a crypto exchange based in Lagos, Nigeria.
"In terms of the crypto scene and everything, things are growing very rapidly, really across the continent, but specifically in Nigeria, South Africa, Ghana, and Kenya," Maurice told Cointelegraph in an interview.
With the four mentioned countries leading the crypto charge, Maurice added, "At this point, it's just a matter of time before it continues to expand outward to the rest of the continent."
Crypto usage in Africa is not represented accurately on paper
Contrary to North America, with its plethora of exchanges, Africa sees more over-the-counter, or OTC, crypto trading, transactions and usage, making definite exchange volume a less accurate representation of the asset class’ prevalence.
“The majority of it is not running through formal exchanges,” Maurice said of crypto asset volume.