Nairobi, Dec. 13 -- Kenya has been ranked as the world's fifth-largest market by cryptocurrency transaction volumes as stablecoin use increases, highlighting the growth of digital asset adoption.

Stable coins are digital currency currencies that are convertible into traditional currencies such as the US dollar on a 1:1 basis.

Kenya follows Ukraine, the United States, Nigeria and Vietnam in transactional crypto use, according to the 2025 World Crypto Rankings report by global cryptocurrency exchange Bybit.

Read:Cryptocurrencies gaining acceptance

This is attributed to widespread use of the digital assets in remittances, merchant payments, cross-border settlements and day-to-day transfers.

Stablecoins like Tether (USDT) and USD Coin (U...