Global crypto-currency exchange, Binance, has recorded rapid growth in its South African customer base, reflecting rising adoption of digital assets across the country.
The company said its local user numbers jumped by 208 per cent year-on-year between January 2023 and January 2026, eight years after it began operations in South Africa. The growth comes as more South Africans turn to crypto-currencies as alternative tools for storing value, transferring funds and conducting transactions.
Binance, which operates an online digital wallet platform that allows users to buy, sell and trade crypto assets, attributed the expansion to increasing awareness and improved access to crypto-related services.
Speaking in an interview, Binance Africa’s legal counsel, Larry Cooke, said a combination of education, product innovation and accessibility has driven the surge in local adoption.
He noted that Africa recorded the fastest relative growth in crypto users in 2025, with on-chain activity rising by 52 per cent, led largely by South Africa and Kenya.
According to him, more than 5.8 million South Africans are now active crypto users, underlining growing interest in digital assets within the country. Cooke added that crypto-currencies continue to play a role in addressing cross-border payment challenges and financial exclusion, particularly among the unbanked population, which accounts for about 57 per cent of adults across Africa.
