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Home Cryptocurrency

Blockchain.com to open Nigeria office amid Africa’s crypto boom

Abimbola Samuel by Abimbola Samuel
May 27, 2025
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Blockchain.com to open Nigeria office anid Africa's crypto boom

Blockchain.com to open Nigeria office anid Africa's crypto boom

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Blockchain.com, a leading UK-based cryptocurrency exchange, is targeting Africa as several countries on the continent begin implementing regulatory frameworks for digital assets.

According to Bloomberg, the company plans to open a physical office in Nigeria this year, describing the country as its fastest-growing market in West Africa. Other key markets include Kenya, South Africa, and Ghana, where governments are gradually introducing rules to govern the crypto industry.

Nigeria leads the way in crypto regulation

Nigeria has emerged as a leader in Africa’s crypto regulatory frameworks. The country recently enacted a new investment and securities law (ISA 2025) that paves the way for licensing and oversight of cryptocurrency exchanges.

This development has already prompted local and international firms operating in the country to seek operational permits, according to the Securities and Exchange Commission (SEC).

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“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” said Owenize Odia, Blockchain.com’s general manager for Africa operations. She emphasised that applying for a crypto-exchange license in Nigeria is a top priority for the company.

In 2022, Blockchain.com, valued at $14 billion following a funding round backed by investors such as Lightspeed Venture Partners and Baillie Gifford & Co., is well-positioned to capitalize on this growth. The company boasts 37 million verified users, 92 million wallets, and over $1 trillion in transactions, according to its website.

Furthermore, Ghana is also making strides, with its central bank releasing draft guidelines last year outlining plans to regulate digital assets by September this year. Meanwhile, Kenya is still assessing the potential risks and benefits of cryptocurrency before finalizing any regulations.

Why Africa matters for Blockchain.com

Africa presents so many opportunities for cryptocurrency adoption. Several portions of the population remain unbanked, and traditional financial systems often fail to meet the needs of businesses and individuals.

Countries like Nigeria, Malawi, Sierra Leone, Tanzania, and Uganda, which struggle with currency volatility and high inflation rates, can benefit from crypto assets, particularly stablecoins, as a more stable store of value and a crucial hedge against local currency depreciation for both personal and business use.

The establishment of physical offices and increased activity by crypto exchanges are also expected to increase job creation in the tech and finance sectors.

This growth can, in turn, cultivate a dynamic ecosystem for blockchain innovation, potentially attracting further investment and development in related technologies.

The development impact can also streamline cross-border payments, making them faster and cheaper, thereby dismantling existing barriers and potentially boosting intra-African and international trade.

Despite the promising outlook, challenges remain. Many African central banks remain wary of cryptocurrencies, and regulatory uncertainty persists in several markets.

Clear regulatory frameworks are paramount in attracting more foreign investment into the crypto and blockchain space, as they instill confidence in companies operating within a predictable legal environment.

Moreover, the expansion of crypto services often includes educational initiatives that inform users about digital assets, contributing to overall digital literacy and technological adoption across the population.

Tags: AfricaBlockchain.comGhanaKenyaNigeriaSouth Africa
Abimbola Samuel

Abimbola Samuel

Experienced crypto writer with 2+ years of expertise. Skilled researcher and analyst delivering high-quality articles. Providing insightful perspectives on the latest crypto trends.

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