UK-based crypto exchange Blockchain.com is pushing deeper into Africa’s emerging digital asset market, with Nigeria at the forefront of its expansion plans. The company has confirmed it is actively pursuing a crypto exchange license in Nigeria, citing the country as its fastest-growing market in West Africa.
Blockchain.com’s Africa Strategy: Nigeria First, Then Ghana, Kenya, and South Africa
According to a report from Bloomberg, Blockchain.com plans to open a physical office in Nigeria this quarter, reinforcing its commitment to establishing a local presence. The expansion is part of the firm’s broader strategy to enter high-potential African markets, including Ghana, Kenya, and South Africa.
“Applying for a crypto-exchange license in Nigeria is a top priority,” said Owenize Odia, General Manager for Africa Operations at Blockchain.com.
Crypto Regulation in Nigeria and Across Africa
African nations have historically maintained a cautious stance toward cryptocurrencies, with outright bans or strict limitations in many countries. However, this is changing as regulators begin to draft clear frameworks to oversee digital assets.
Nigeria Leads Crypto Regulation Efforts
Nigeria recently passed the Investments and Securities Act (2025), establishing a legal foundation for licensing and regulating crypto exchanges. This move has encouraged both local and international firms to enter the market.
The Securities and Exchange Commission (SEC), Nigeria, has already issued approval-in-principle to two exchanges, Quidax and Busha, under its Accelerated Regulatory Incubation Program (ARIP). Additionally, four companies are currently testing their technologies through the SEC’s Regulatory Incubation (RI) Program, including:
- Trovotech Ltd
- Wrapped CBDC Ltd
- Dream City Capital
- Housing Exchange.NG Ltd
Despite the progress, the SEC has temporarily paused further provisional licenses, citing the need for more extensive due diligence.
“We’re taking our time to ensure robust regulation,” said Emomotimi Agama, Director General of the SEC. “Several applications are under review, but lessons from early licensees are guiding our next steps.”
Blockchain.com’s Global Footprint and Market Position
Valued at $14 billion following a 2022 financing round involving Lightspeed Venture Partners and Baillie Gifford & Co., Blockchain.com is a major player in the crypto space. The platform boasts:
- 37 million verified users
- 92 million wallets created
- Over $1 trillion transacted
As African regulators begin to embrace crypto through legal frameworks, Blockchain.com sees a ripe opportunity to solidify its position on the continent.
What This Means for Nigeria’s Crypto Landscape
Blockchain. Om’s move into Nigeria signals rising confidence in the country’s evolving crypto regulatory environment. As more firms pursue licensing, Nigeria is quickly emerging as Africa’s leading crypto hub, attracting investment, talent, and global recognition.
