Kenyans are increasingly using cryptocurrency, especially Stablecoins, for remittances and cross-border payments due to lower transaction costs and faster settlement, according to a new report by Bybit.

• Stablecoins, particularly dollar-pegged tokens like USDT, USDC, and DAI, are preferred for faster and cheaper transfers compared to traditional methods.
• The trend reflects a broader shift across Africa, where inflation and currency volatility drive users to digital dollars for preserving value and navigating FX restrictions.
• Kenya's crypto user base grew from 10,400 in 2017 to about 733,300 in 2025, with approximately 10.7% of the population owning cryptocurrencies.
• Kenya is poised to accelerate adoption further with its new Virtual Assets Service Providers Bill, gazzeted in October 2025, introducing a licensing and regulatory framework.
• Stablecoins account for roughly 43 percent of all crypto transaction volume in Sub-Saharan Africa.
• Spurt Group projects the number of cryptocurrency users in Africa will reach 55.47 million by 2028.