Blockchain.com is deepening its footprint across Africa, announcing plans to open a new office in Nigeria as part of a broader regional expansion into Ghana, Kenya, and South Africa — countries increasingly moving toward formal crypto regulations.
Nigeria Becomes a Launchpad for African Growth
The UK-based crypto exchange will establish its Nigerian office in Q2 2025, citing the country as its “fastest-growing market” in West Africa, according to a report from Bloomberg on May 27.
“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” said Owenize Odia, Blockchain.com’s General Manager for Africa.
Nigeria recently enacted new securities laws for digital assets, a move Odia says encourages license applications and strengthens regulatory clarity. This development comes amid growing crypto adoption in Africa, driven by youthful demographics and currency instability.
Ghana and Kenya Show Regulatory Progress
Ghana is also moving forward, with the central bank releasing draft guidelines aimed at regulating crypto platforms by September 2025. Meanwhile, Kenya remains in the research phase, evaluating how best to approach digital asset regulation.
“Signals of regulatory intent are key to Blockchain.com’s expansion decisions,” Odia added, noting that long-term growth depends on legal certainty.
South Africa Leads the African Crypto Race
South Africa is positioning itself as a regional hub for digital assets, with a strong legal infrastructure and a business-friendly approach. As of March 2024, the Financial Sector Conduct Authority (FSCA) had approved 59 crypto platform licenses, with over 260 applications still under review.
Ben Caselin, CMO at Johannesburg-based exchange VALR, said in a 2024 interview that regulatory clarity is a “major magnet” for international players entering South Africa.
Blockchain.com Sees Long-Term Opportunity in Africa
With over 37 million verified users, 92 million wallets, and $1 trillion in transaction volume, Blockchain.com is betting on Africa’s crypto potential. The company’s 2023 Series E round raised $110 million, despite halving its 2022 valuation of $14 billion.
The latest move by Blockchain.com reflects a broader industry shift as global crypto firms target markets with emerging regulatory frameworks — and Africa is quickly becoming a priority destination.