UK-based cryptocurrency exchange Blockchain.com is seeking to obtain a crypto exchange license in Nigeria as part of its strategic expansion into Africa. The company plans to open a physical office in Nigeria during the second quarter of 2025, marking its first such presence on the continent .
Nigeria, identified by Blockchain.com as its fastest-growing market in West Africa, has recently enacted the Investments and Securities Act (ISA) 2025. This legislation provides a regulatory framework for digital assets, allowing the Securities and Exchange Commission (SEC) to license and oversee cryptocurrency exchanges .
Owenize Odia, General Manager for Africa Operations at Blockchain.com, emphasized the significance of Nigeria’s regulatory advancements, stating, “Nigeria has taken meaningful steps toward creating a clear framework for crypto. Applying for a crypto exchange license in Nigeria is a top priority” .
Beyond Nigeria, Blockchain.com is also targeting expansion into Ghana, Kenya, and South Africa, countries that are developing or have implemented crypto regulatory frameworks. Ghana’s central bank has released draft guidelines aiming to regulate crypto platforms by September 2025, while Kenya is in the research phase of crypto regulation .
Globally, Blockchain.com boasts over 37 million verified users, 92 million wallets, and has facilitated more than $1 trillion in transactions. The company’s move into Africa aligns with its strategy to tap into emerging markets with growing crypto adoption and evolving regulatory landscapes .
The establishment of a physical office in Nigeria positions Blockchain.com as the first foreign crypto firm to set up such a presence in the country, potentially reshaping the competitive landscape for local players .
As Africa’s crypto market is projected to generate over $2.9 billion in revenue in 2025, Blockchain.com’s expansion reflects a broader industry trend of targeting regions with high mobile penetration, youthful demographics, and increasing demand for digital financial solutions .
For more information on Blockchain.com’s expansion plans and Nigeria’s crypto regulatory developments, readers can refer to the detailed report by Nairametrics .
