Blockchain.com Expands into Africa with New Nigerian Office

Blockchain.com is accelerating its expansion in Africa, focusing on markets where governments are beginning to lay the groundwork for crypto regulation.

The UK-based exchange plans to open a physical office in Nigeria—the company’s fastest-growing market in West Africa—by Q2 2025.

This move marks a notable shift, as Nigeria had previously banned cryptocurrency in 2021.

Now, with regulatory momentum building, Nigeria will host Blockchain.com's first African office as part of broader efforts to grow in Ghana, Kenya, and South Africa—countries that are also showing early signs of regulatory structure.

According to Owenize Odia, Blockchain.com's General Manager for Africa, Nigeria is central to the company’s continental strategy.

In a statement, Odia described Nigeria’s evolving digital asset policies as a promising sign for crypto companies seeking legitimacy, operational clarity, and long-term stability.

She stated:

“Nigeria has taken meaningful steps toward creating a clear framework for crypto.”

Beyond regulation, Blockchain.com is also betting on Africa’s youthful and mobile-first population.

With over 60% of the continent under the age of 25 and growing interest in crypto as a hedge against inflation and currency instability, the region offers fertile ground for adoption.

The Nigerian office is expected to serve as a regional hub for West Africa, supporting operations, customer engagement, and partnerships across the region.

The expansion also reflects a broader global shift toward crypto acceptance, spurred in part by favourable political winds—including former US President Donald Trump’s pro-crypto stance—which are helping reshape sentiment around the industry.

Nigeria and Ghana Set the Pace for Crypto Oversight

While cryptocurrency remains banned or tightly restricted in several African nations, a growing number—including Nigeria and Ghana—are shifting from prohibition to regulation, opening the door for investment and innovation.

This evolving stance is creating fresh opportunities for both African investors and global platforms like Blockchain.com, which sees the continent as a key growth frontier.

The global mood is also changing, with political figures such as Trump publicly backing digital assets—an endorsement that has emboldened firms to pursue more ambitious expansion strategies.

Nigeria has emerged as a bold first mover in this regulatory transformation.

After effectively banning banks from facilitating crypto transactions in 2021, the country saw a surge in peer-to-peer trading among retail investors.

In a major policy reversal, Nigeria passed a new investment and securities law in 2023 that formally recognised and provided a licensing framework for crypto exchanges.

This shift has already drawn attention from industry players like Yellow Card Financial Inc., which is now pursuing licensing through Nigeria’s Securities and Exchange Commission.

Meanwhile, Ghana is preparing to follow suit.

The Bank of Ghana is currently drafting legislation aimed at regulating digital assets, with plans to introduce a formal legal framework by the end of September 2025.

According to Odia, this move positions Ghana to join a growing list of African nations actively courting crypto-related investment.

Blockchain.com's decision to establish a physical office in Nigeria is more than a strategic foothold—it could signal a broader wave of institutional interest across Africa.

Odia noted:

“Africa has the potential to leapfrog traditional financial systems — and crypto is the key.”

Blockchain.com Puts License Application in Nigeria as Priority

Blockchain.com is actively pursuing a license in Nigeria, where a newly enacted securities law now provides a regulatory framework for digital assets.

According to Odia, clear regulatory intent is a critical factor in guiding expansion decisions across the continent.

Ghana has released draft guidelines signalling plans to regulate crypto platforms by September 2025, while Kenya remains in the early stages of research and policy development.

For Blockchain.com, the region’s rapidly growing, tech-savvy youth population and persistent currency volatility make Africa a prime environment for crypto adoption.

The company, according to its website, boasts 37 million verified users, 92 million wallets, and over $1 trillion in total transaction volume.

Despite facing market headwinds, Blockchain.com has continued to secure investor backing.

In 2022, the firm’s valuation soared from $5.2 billion to $14 billion following a major funding round—just weeks before the collapse of the Terra ecosystem.

A subsequent $110 million Series E round in 2023 significantly reduced that valuation, reflecting broader market recalibrations, but the company remains focused on long-term growth, particularly in emerging markets like Africa.