Blockchain.com is expanding its operations into Africa, with a focus on Ghana, Kenya, and South Africa. The company plans to open a physical office in Nigeria during the second quarter of 2025, according to a Bloomberg report. This move is motivated by Nigeria's recent enactment of a new investment and securities law that includes provisions for licensing and regulating cryptocurrency exchanges.
Owenize Odia, Blockchain.com's general manager for Africa, has stated that obtaining a crypto-exchange license in Nigeria is a top priority for the company. Nigeria is reportedly Blockchain.com's fastest-growing market in West Africa. Other African countries are also making strides in developing crypto frameworks, with Ghana expected to begin regulating crypto platforms by September 2025, while Kenya is still in the research phase.
This expansion follows Blockchain.com's earlier steps toward a potential IPO, including new executive appointments. The company's strategic move into Africa reflects the growing importance of the region in the global cryptocurrency landscape, driven by regulatory advancements and increasing adoption.
This article is based on our author's analysis of materials taken from the following resources: Bloomberg, Cointelegraph.