Blockchain.com, a UK-based cryptocurrency platform, is making a bold move into Africa. The company plans to expand into Ghana, Kenya, and South Africa, while also opening its first physical office in Nigeria in Q2 2025. This expansion, first reported by Bloomberg, signals a growing interest in African markets as regulatory frameworks become clearer.
Nigeria’s expansion is particularly significant—it will make blockchain.com the first foreign crypto firm to establish a physical presence in the country. This move could reshape the competitive landscape for local players.
“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.”
Africa’s Crypto Boom
Blockchain.com’s expansion comes as global crypto giants like Coinbase deepen their presence in Africa. Opera, a Norway-based company, launched an iOS version of MiniPay, its stablecoin wallet app, in May 2025 to attract more African users.
With foreign players increasing their engagement, African regulators may feel pressure to accelerate the development of clear and consistent frameworks for digital assets.
The Market Potential
Africa’s crypto market is projected to generate over $2.9 billion in revenue in 2025. While blockchain.com hasn’t disclosed its user numbers in Africa, it describes Nigeria as one of its fastest-growing markets. Globally, the platform boasts over 37 million verified users.
Regulatory Shifts Across Africa
If blockchain.com applies for a cryptocurrency license in Nigeria, it will be the first foreign crypto firm to do so since the country’s Securities and Exchange Commission (SEC) made licensing mandatory for foreign companies.
Nigeria’s Investments and Securities Act, enacted in March 2025, granted the SEC authority to regulate digital assets, formally recognizing them as securities. This long-awaited move could attract further investment and innovation in the sector.
Meanwhile, Ghana and Kenya are drafting regulations for cryptocurrencies, while South Africa has already implemented rules requiring crypto platforms to be licensed.
A New Era for Crypto in Africa
Blockchain.com’s decision to establish a physical presence and invest locally is a clear sign of its commitment to Africa. As governments refine their regulatory frameworks, the continent is poised to become a major player in the global crypto economy.
