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By Francisco Rodrigues|Edited by Parikshit Mishra
May 27, 2025, 12:29 p.m.
- Blockchain.com is expanding its operations into several African countries, including Ghana, Kenya, and South Africa,
- The firm plans on opening a physical office in Nigeria, which it says is its fastest-growing market in West Africa.
- Nigeria has recently passed a new investment and securities law that includes provisions for licensing and regulating cryptocurrency exchanges.
Blockchain.com, a cryptocurrency exchange and wallet provider, is expanding into parts of Africa where crypto regulation is beginning to solidify.
The company is focusing on Ghana, Kenya, and South Africa, and plans to open a physical office in Nigeria this quarter, citing it as its fastest-growing market in West Africa, Bloomberg reports.
STORY CONTINUES BELOW
Nigeria recently passed a new investment and securities law, which includes provisions for licensing and regulating cryptocurrency exchanges.
“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” said Owenize Odia, Blockchain.com’s general manager for Africa. “Applying for a crypto-exchange license in Nigeria is a top priority.”
Other countries are also laying the groundwork. The Bank of Ghana released draft guidelines last year . Kenya, meanwhile, is still in the research phase to further understand the asset class.
The move comes after earlier this year Blockchain.com took a new step towards a potential initial public offering (IPO) through new executive appointments.
That comes as Circle Internet group, the firm behind the USDC stablecoin, filed for an IPO on the New York Stock Exchange as an increasing number of crypto firms look to go public.
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk’s $1,000 disclosure threshold.
