A UK-based company that allows users to buy, sell, and trade cryptocurrencies, Blockchain.com, plans to open a physical office in Nigeria in Q2 2025 and expand into Ghana, Kenya, and South Africa.
The move, first reported by Bloomberg, marks a significant push into African markets amid growing regulatory clarity across the continent.
The Nigeria expansion would make Blockchain.com the first foreign crypto firm to establish a physical presence in the country, a move that could reshape the competitive landscape for local players. “Nigeria has taken meaningful steps toward creating a clear framework for crypto. Applying for a crypto exchange licence in Nigeria is a top priority,” General Manager for Blockchain.com’s Africa Operations, Owenize Odia, told Bloomberg.
The company’s African expansion comes as global crypto giants such as Coinbase make deeper inroads into Africa. Opera, a Norway-based company, launched an iOS version of MiniPay, its stablecoin wallet app, in May 2025 to acquire more African users. As foreign players deepen their engagement on the continent, their presence could pressurise African regulators to accelerate the development of clear and consistent frameworks for digital assets.
Africa’s crypto market is expected to generate over $2.9 billion in revenue in 2025. While Blockchain.com does not disclose its user numbers in Africa, it described Nigeria as one of its fastest-growing markets. Globally, the platform has over 37 million verified users.
If Blockchain.com applies for a cryptocurrency licence in Nigeria, it would be the first foreign crypto firm to do so since the country’s Securities and Exchange Commission (SEC) made such licencing mandatory for foreign companies. Nigeria’s recently enacted Investments and Securities Act (March 2025) granted the SEC authority to regulate digital assets, formally recognising them as securities. It is a long-awaited move that could attract further investment and innovation in the sector.
Elsewhere on the continent, Ghana and Kenya are also drafting frameworks to regulate cryptocurrencies, while South Africa has already implemented rules requiring crypto platforms to be licenced to operate. These developments, combined with the entry of firms like Blockchain.com, reflect a growing recognition among African governments that regulation is crucial to the crypto sector’s development on the continent, and this will pay off.
For Blockchain.com, establishing a physical presence and investing locally will be the clearest display of its commitment to Africa.
