22 Mar 2021

Peer-to-peer trading volume climbing in the frontier markets

P2P volume is trending up everywhere except for Northern America.
p2p volume geographics.svg
Source: NYDIG and UsefulTulips
Northern American P2P volumes last week: $20.7m
  • The P2P volumes in the region have trended downwards over the last year.
Sub-Saharan African P2P volumes last week: $14.3m
  • The volumes have been on a solid uptrend the last year.
  • Nigeria dominates in the region. In the aftermath of the short lasted Nigerian bitcoin ban, the Nigerian P2P volumes rose by approximately 40%, from $6m per week to $8.5m per week.
  • Kenya and Ghana have also seen significantly rising P2P volumes, while South Africa also substantially contributes to the region's volume.
Asia Pacific P2P volumes last week: $12.7m
  • The P2P volumes are trending upwards but are still far behind its 2017 peak.
  • The Indian P2P volumes are growing significantly, sitting at around $5 million, amid rumors of an Indian crypto ban.
Latin American P2P volumes last week: $10.6m
  • Trending upwards, mainly driven by a considerable growth in the Colombian market.
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