Web 3 Needs Africa, Not the Other Way Around

The continent has shown a willingness to embrace new financial services technologies, and crypto addresses a pressing need in every country. According to the "Africa Report," in September 2021 the continent's crypto market reached a significant milestone when sub-Saharan users achieved more than $80 million in cryptocurrency holdings – more than the total of U.S. users. Morocco, a North African country with a gross domestic product ranking well outside the world’s top 50 (the U.S. is first), has one of the highest crypto-holding populations, with 2.5% of people owning some form of digital currency. From 2020 to 2021, the continent saw an astounding 1,200% increase in crypto payments. This growth is no surprise to the AZA finance team. In the past nine years operating on the continent, we have seen massive increases in adoption of the new technology, thanks largely to a young and mobile population ready to plug into the digital world.