South Africa’s cryptocurrency market revenue is expected to reach $246 million by 2024

Odaily News South Africa is the first African country to issue licenses for cryptocurrency exchanges. In 2021, the country explored a separate regulatory framework for cryptocurrencies and plans to implement it by 2022, with the goal of issuing final regulations that year. According to a report by Statista, the revenue of the South African cryptocurrency market is expected to reach US$246 million in 2024, with an annual growth rate (CAGR 2024-2028) of 7.86%, reaching US$332.9 million by 2028.