Blockchain.com, one of the world’s leading digital asset platforms, has chosen Nigeria as its African operational hub.
The company believes Nigeria has the potential to lead Africa’s digital finance transformation, especially in West Africa, which has strengthened its confidence in the country.
They also seek a crypto exchange license from the Securities and Exchange Commission (SEC) to ensure that their operations comply with local regulations.
Why does Blockchain.com focus on Nigeria?
Michael Emeeka, Blockchain.com’s Country Head for Nigeria, said the choice of Nigeria as a regional base was driven by more than just market size.
“The country has one of the highest crypto adoption rates globally, driven by its young, tech-savvy population and strong interest in digital assets,” he said.
According to him, Nigeria’s crypto culture made it a natural choice. “We have over 80 million crypto wallets right now on Blockchain.com, and a substantial portion of that comes from Africa. Nigeria contributes a considerable share of those wallets,” Emeeka explained.
For some time now, Nigeria has consistently ranked among the top countries in the world for crypto adoption, second only to India in terms of peer-to-peer transaction volumes and retail crypto usage.
About 22 million Nigerians, 10 per cent of the country’s population, own or use cryptocurrency, driven by a youthful population seeking financial alternatives amid inflation and currency instability.
To benefit from the growing crypto market, Blockchain.com is taking a careful and compliance-first approach. Emeeka explained that the company’s primary goal is to secure its SEC license to ensure complete alignment with Nigerian regulations.
The firm is working closely with key Nigerian financial institutions such as the Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS), and the National Institute of Credit Administration (NICA).
According to Emeeka, the aim is to meet global standards while offering services that suit local needs.
Meanwhile, Owenize Odia, Blockchain.com’s General Manager for Africa, said Nigeria is a very important market.
She added that compliance is central to their operations and that the company has already met with the local regulator and applied for the necessary license.
“Nigeria is a very important market for Blockchain.com. Compliance is fundamental to how we operate. We engage regulators openly, and in Nigeria, we have met with the SEC and applied for the appropriate license,” she said during a media briefing in Lagos.
The company’s Compliance Officer, Serena Braide, also explained that Blockchain.com follows strict international financial standards.
These include Know-Your-Customer (KYC) checks, customer verification, sanctions screening, and ongoing transaction monitoring.
She said the company welcomes regulatory oversight because it helps build trust and ensures long-term growth.
“Given the high-risk nature of the industry, we follow strict global standards, starting with Know-Your-Customer (KYC), customer due diligence, sanctions screening, and ongoing transaction monitoring. We welcome regulatory scrutiny because it builds trust and long-term sustainability”
They join a growing list of crypto firms seeking official recognition in Nigeria. Last year, the SEC granted two exchanges, Quidax and Busha, approval as principals under its Accelerated Regulatory Incubation Program (ARIP).
The program allows crypto firms to operate legally while being closely monitored for compliance before receiving full licenses.
The Commission also hinted that several other applications were under review to regulate crypto activities in Nigeria fully.
Expanding across Africa
The company aims to make digital assets part of everyday financial life in Nigeria to power payments, remittances, and business transactions.
Emeeka says Blockchain.com aims to “build trust with customers, invest in local talent, and educate the market about responsible crypto use.”
The company has already established a physical office in Nigeria and is hiring locally to support its growing operations.
It also plans to launch educational programs and conferences to help Nigerians, especially professionals, entrepreneurs, and small businesses, understand how to use cryptocurrency safely and productively.
After Nigeria, they are eyeing Ghana, Kenya, and South Africa as their next African destinations.
The company believes that by combining compliance with accessibility, crypto can evolve from a speculative investment to a real-world financial tool for millions across Africa.
Their next steps involve building stronger regulatory partnerships, rolling out local education campaigns, and promoting responsible crypto adoption across Africa.