Blockchain. com is intensifying its focus on Africa, targeting markets where governments are starting to establish crypto regulations. The UK-based exchange intends to open a physical office in Nigeria in the second quarter — its “fastest-growing market” in West Africa — while also expanding broadly into Ghana, Kenya, and South Africa, according to a Bloomberg report dated May 27. “Nigeria has made significant progress toward developing a clear crypto framework, ” said Owenize Odia, Blockchain. com’s general manager for Africa, as reported. This expansion aligns with a global shift in sentiment, including supportive political developments from the United States, where President Donald Trump’s pro-crypto stance has propelled industry growth. Related: Hedera Africa Hackathon launches with $1M prize pool and Web3 focus Nigeria and Ghana at the forefront of crypto regulation Although cryptocurrency trading remains limited in many African nations, some—such as Nigeria and Ghana—are moving towards formalizing legal frameworks for crypto exchanges. Odia highlighted that Blockchain. com is prioritizing a licensing application in Nigeria, which recently passed a securities law encompassing digital assets. Ghana’s central bank has released draft guidelines signaling an intention to regulate crypto platforms by September 2025, whereas Kenya remains in the research stage. Odia noted that such regulatory signals are crucial for Blockchain. com’s expansion strategy.

The exchange views the continent’s young population and prevalent currency instability as key drivers of crypto adoption. Cointelegraph reached out to Blockchain. com for comments but received no response by publication time. According to its website, Blockchain. com boasts 37 million verified users, 92 million wallets, and over $1 trillion in transaction volume. In 2022, the company completed a funding round that raised its valuation from $5. 2 billion to $14 billion, shortly before the collapse of Do Kwon’s Terra ecosystem. However, a $110 million Series E financing in 2023 cut its valuation by more than half compared to 2022. Related: Ethiopia in the global Bitcoin mining spotlight: AMA with UMINERS South Africa takes the lead in the African crypto landscape South Africa is becoming a key player in Africa’s crypto market, establishing itself as a regional hub for digital assets. Ben Caselin, chief marketing officer at Johannesburg-based crypto exchange VALR, noted that South Africa’s robust legal framework and business-friendly climate make it an excellent base for crypto firms intending to expand across Africa. In a September 2024 interview with Cointelegraph, Caselin underscored that regulatory certainty is a major attractor for both domestic and international companies in South Africa. Momentum continues, with the Financial Sector Conduct Authority (FSCA) having approved 59 crypto platform licenses by March 2024, while over 260 applications are still under review.