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Blockchain.com, a UK-based cryptocurrency exchange, plans to open a physical office in Nigeria in Q2 2025 and expand into Ghana, Kenya, and South Africa. This move marks a significant push into African markets amid growing regulatory clarity across the continent.

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According to Owenize Odia, General Manager for Blockchain.com’s Africa Operations, “Nigeria has taken meaningful steps toward creating a clear framework for crypto. Applying for a crypto exchange license in Nigeria is a top priority.” The company’s expansion into Africa comes as global crypto giants, such as Coinbase, make deeper inroads into the continent.

Africa’s crypto market is expected to generate over $2.9 billion in revenue in 2025, and Nigeria is one of Blockchain.com’s fastest-growing markets. The platform has over 37 million verified users globally. If Blockchain.com applies for a cryptocurrency licence in Nigeria, it would be the first foreign crypto firm to do so since the country’s Securities and Exchange Commission (SEC) made such licensing mandatory for foreign companies

Nigeria’s recently enacted Investments and Securities Act granted the SEC authority to regulate digital assets, formally recognising them as securities. This development, combined with the entry of firms like Blockchain.com, reflects a growing recognition among African governments that regulation is crucial to the crypto sector’s development on the continent.

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Other African countries, including Ghana and Kenya, are draughting frameworks to regulate cryptocurrencies, while South Africa has already implemented rules requiring crypto platforms to be licensed to operate. By establishing a physical presence and investing locally, Blockchain.com is demonstrating its commitment to Africa and positioning itself for growth in the region.

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