Top 5 African crypto startups that are pioneering financial inclusion in 2025

Indeed, the African cryptocurrency ecosystem has played an all-important role, driving financial inclusion across the continent. It is equally at the forefront of economic empowerment. and providing opportunities for millions of unbanked individuals to participate in the global economy, particularly in countries with high inflation rates, such as Nigeria and Ghana.

Stablecoins have become crucial for businesses facing foreign exchange shortages, with about 70% of African countries experiencing FX crises. Companies like Yellow Card, operating across 20 countries, have been a success story.

However, this growth has been accompanied by significant challenges. Regulatory uncertainty remains a major hurdle, with countries like Morocco, Algeria, Libya, Egypt, Zambia, Zimbabwe, and Namibia imposing bans or restrictions on crypto activities. The lack of proper regulatory frameworks poses risks to companies and users, potentially leading to sudden closures.

Security breaches have also been a concern. And, the need for better education and translation of crypto-related information into local languages is critical to reach rural and elderly populations.

Yet, the space has witnessed both failures and successes, reflecting the industry’s volatility. Among the failures is Patricia, a Nigerian crypto exchange, which faced significant challenges following a security breach in May 2023, leading to a $2 million loss

Conversely, some crypto companies have survived and thrived in Africa, demonstrating resilience and innovation. VALR stands out as one of the continent’s leading crypto-asset exchanges. Luno, while not exclusively African, has a strong presence, with African users dominating its newly added users in recent years.

Busha, another local exchange, has successfully raised venture funding, indicating investor confidence. Sun Exchange, based in South Africa, leverages blockchain technology to enable users to purchase and lease solar panels.

On the whole, Africa’s cryptocurrency adoption has been on a steady upward trajectory. With an estimated 43.5 million crypto users in 2024, an 8.5% rise from 2023, ranking the continent third globally behind Asia and North America.

This growth is particularly notable in Sub-Saharan Africa. The region contributed 2.7% to the global crypto economy’s transaction volume, per Chainalysis, with an on-chain value of crypto transactions of $125 billion.

This article highlights the top five African crypto startups in 2025. See the analysis below:

1. Yellow Card Financial

• Funding: $89.5 million, including a $33 million Series C in 2024 led by Blockchain Capital.
• Impacts: Facilitates over $3 billion in transactions, focusing on stablecoins to combat inflation.
• Reach: Operates in 20 countries, from Nigeria to Morocco.Performance: Rapid user growth and robust API integration for global businesses.

Founded in 2019 by Chris Maurice and Justin Poiroux, Yellow Card is a U.S.-based but Africa-focused fintech that has become a cornerstone of crypto adoption, enabling seamless cross-border payments and stablecoin transactions.

Its user-friendly platform allows individuals and businesses to convert local currencies into digital assets like USDT, shielding them from volatile fiat currencies, a critical feature in markets like Nigeria, where inflation remains a concern.

What sets Yellow Card apart is its strategic pivot to B2B solutions by integrating its API and widget into global platforms like Coinbase and PayPal. This move positions it as a payment rail for frontier markets, reducing cross-border transfer costs compared to traditional systems like SWIFT.

Beyond 2025: Yellow Card may expand into new markets like Ethiopia, where crypto bans are softening, and deepen partnerships with global fintechs. Its focus on regulatory compliance, actively shaping legislation in Kenya and Morocco, will likely cement its dominance, potentially achieving unicorn status by 2027.

2. VALR: South Africa’s crypto bridge

• Funding: $54.9 million, including a $50 million Series B in 2022.
• Impacts: Bridges traditional finance and crypto, serving over 1 million users.
• Reach: Strong in South Africa, with a growing presence in Nigeria and Kenya.
• Performance: High trading volumes, supported by staking and lending options.

VALR, headquartered in Johannesburg, is one of Africa’s leading crypto exchanges. Founded in 2018 by Farzam Ehsani, Chris T., Badi Sudhakaran and Theo Bohnen.

Licensed as a Category I and II financial service provider, it offers spot and derivatives trading for over 75 cryptocurrencies. Its 2024 milestone of surpassing 1 million users underscores its appeal in South Africa, a crypto adoption hub.

VALR’s standout feature is its transparency, publishing proof of reserves, and its integration of passive income products like staking, which resonate with users seeking financial empowerment.

By enabling crypto-to-fiat conversions and B2B payment solutions, VALR bridges legacy banking with decentralised finance, a critical step in markets with fragmented financial systems.

Beyond 2025: VALR’s global expansion, already underway in Zambia, will likely accelerate, targeting East African markets like Rwanda. Its regulatory expertise positions it to navigate evolving frameworks and potentially launch new DeFi products by 2028.

3. Bitmama: Empowering remittances

• Funding: $3.5 million through pre-seed and seed rounds by 2023.
• Impacts: Simplifies cross-border payments with virtual crypto cards.
• Reach: Nigeria-centric, expanding across West Africa.
• Performance: Strong user engagement via P2P trading and remittances.

Bitmama, a Nigerian startup founded by Ruth Iselema in 2019, shines for its innovative approach to remittances, a $50 billion market in Africa.

It facilitates fast, low-cost crypto exchanges, complemented by virtual cards that allow users to spend digital assets globally. This addresses a pain point for Africans reliant on expensive traditional remittance channels.

Bitmama’s mobile-first design resonates with Nigeria’s tech-savvy youth, driving adoption among small businesses and freelancers. Its P2P trading feature fosters community trust, which is crucial in a region wary of centralised systems.

Despite lower funding (compared to Yellow Card or VALR), Bitmama’s focus on user-centric solutions gives it a competitive edge.

Beyond 2025: Bitmama is poised to scale into Ghana and Côte d’Ivoire, leveraging Nigeria’s crypto-friendly regulations post-2023. Partnerships with regional banks could enhance its card offerings, potentially doubling its user base by 2030 as remittance demands grow.

4. Busha: Nigeria’s inclusion champion

• Funding: $4.2 million seed round in 2021, with additional funding in 2023.
• Impacts: Promotes crypto literacy and low-cost trading.
• Reach: Nigeria-focused, with plans for Ghana and Kenya.
• Performance: Growing retail adoption via its mobile app.

Busha, another Nigerian gem, founded in 2019 by Moyo Sodipo and Michael Adeyeri, excels in democratising crypto access. Its platform simplifies trading Bitcoin and Ethereum, targeting retail users with low fees and educational resources

This focus on literacy, as noted in DabaFinance’s 2024 startup insights, tackles a key barrier to adoption in Africa, where crypto knowledge gaps persist.

Busha’s mobile app, intuitive and accessible, has gained traction among young Nigerians hedging against naira devaluation. Its commitment to financial inclusion aligns with Nigeria’s high crypto adoption rate; 12% of adults own digital assets, per a 2023 Statista report.

Beyond 2025: Busha’s expansion into West and East Africa will likely intensify, supported by Nigeria’s regulatory clarity. By 2030, it could lead with crypto education, integrating AI-driven tools to personalise user experiences and boost retention.

5. Zone: Blockchain’s New Frontier

• Funding: $8.5 million in 2024 from Flourish Ventures and TLcom Capital.
• Impacts: Digitises fiat payments via a Layer-1 blockchain.
• Reach: Nigeria-based, with merchant and fintech partnerships.
• Performance: Early-stage but scalable technology.

Zone, formerly Appzone, founded by Obi Emetarom and Wale Onawunmi in 2018, is a wildcard redefining payments through blockchain. Its regulated Layer-1 network enables merchants and fintechs to process digital currencies alongside fiat, reducing reliance on traditional banks.

A 2024 DabaFinance report praised Zone’s potential to disrupt Nigeria’s payment ecosystem, where cash still dominates.

Zone’s decentralised approach enhances transaction efficiency, appealing to businesses seeking alternatives to costly intermediaries. While its user base is smaller than Yellow Card’s or VALR’s, its technology has global scalability, drawing interest from investors betting on blockchain infrastructure.

Beyond 2025: Zone could emerge as Africa’s leading blockchain network by 2030, expanding to Kenya and South Africa. Its partnerships with global payment providers may position it as a backbone for cross-continental transactions, rivalling established networks like Stellar.

The blockchain space in Africa beyond 2025

Africa’s crypto startups operate in a complex landscape; their share of global blockchain deals increased slightly to 1.3% in 2023 and reached an all-time high of 1.8% in H1/2024.

Within Africa, blockchain venture deals accounted for 12.5% of all venture deals across industries, which is significantly higher than observed globally, per CV VC’s African Blockchain Report.

Yet, progressive regulations in Nigeria and South Africa, coupled with rising stablecoin use, fuel optimism. Yellow Card and VALR will likely maintain dominance, leveraging scale and compliance. Bitmama and Busha, with their grassroots focus, could capture underserved markets, while Zone’s blockchain innovation may redefine payments.

Beyond 2025, expect these startups to drive Africa’s integration into global DeFi, tackling challenges like internet access and regulatory harmonisation. Their success hinges on balancing innovation with trust, potentially creating the continent’s first crypto unicorns by the end of the decade.