Coinbase Expands Into Africa With Mobile-Friendly Crypto Wallet for Unbanked Users

Coinbase has taken a major step in its international expansion by launching a mobile-friendly crypto wallet tailored for African users, particularly targeting the region’s large unbanked population. The move underscores Coinbase’s broader strategy to drive financial inclusion by providing easy access to digital assets in markets where traditional banking services remain limited.

Africa is one of the fastest-growing regions for cryptocurrency adoption. According to recent studies, more than 60% of the continent’s adult population does not have access to a formal bank account, but mobile penetration rates are exceptionally high. With affordable smartphones and widespread use of mobile money platforms like M-Pesa in Kenya, Airtel Money, and MTN Mobile Money across West Africa, digital finance has become a lifeline for millions. Coinbase is now positioning its new wallet as a natural extension of that trend.

The mobile-friendly wallet will support popular cryptocurrencies such as Bitcoin, Ethereum, and stablecoins like USDC, while also offering easy fiat-to-crypto conversion through partnerships with regional fintech companies and mobile operators. Users will be able to send and receive funds, pay for goods and services, and access decentralized finance (DeFi) tools without needing a traditional bank account. Coinbase has also emphasized that the wallet is designed to work seamlessly on low-bandwidth internet and basic smartphones, a crucial feature for underserved rural areas.

“Financial inclusion remains one of the biggest challenges in Africa, and blockchain technology offers a way to bridge that gap,” said a Coinbase spokesperson. “By building a lightweight, secure, and user-friendly wallet, we aim to empower millions who have been excluded from the global financial system.”

The launch comes at a time when regulators across Africa are taking a mixed approach to cryptocurrency. While countries like Nigeria and Kenya have seen rapid adoption, they also maintain tight restrictions on exchanges. In contrast, South Africa has been developing a clearer framework to regulate digital assets, giving firms like Coinbase an opportunity to operate within defined guidelines. Industry experts suggest that Coinbase’s wallet rollout may encourage more governments to consider how blockchain can complement existing mobile money services rather than compete with them.

Coinbase’s entry could also reshape remittances, one of Africa’s most critical financial flows. The continent receives over $50 billion annually in remittances, but high transaction fees—sometimes exceeding 10%—continue to burden families. With blockchain-powered transfers, Coinbase aims to slash those costs, making cross-border payments faster and cheaper.

Analysts note that competition in the African crypto wallet space is heating up, with local players like Yellow Card and Bundle already gaining traction. However, Coinbase’s global brand recognition, compliance experience, and partnerships with fintech companies may give it an edge in building trust among first-time users.

If successful, Coinbase’s African wallet could become a model for how global crypto firms approach emerging markets. Beyond just offering digital assets, it represents a step toward integrating the unbanked into a borderless, decentralized financial system—one where a smartphone could be all that’s needed to access the global economy.