Blockchain.com is actively strengthening its market presence in Africa, focusing on countries where governments have begun to implement formal cryptocurrency regulatory frameworks.
According to a Bloomberg report on May 27, the UK-based exchange plans to establish a physical office in Nigeria in the second quarter of 2025—its "fastest-growing market" in West Africa—while also advancing broader strategic expansion in Ghana, Kenya, and South Africa.
Owenize Odia, General Manager of Blockchain.com Africa, stated in an interview, "Nigeria has taken substantial steps to commit to building a clear cryptocurrency regulatory framework."
This expansion coincides with positive changes in the global cryptocurrency industry, including political support from the United States, where former President Donald Trump's stance on cryptocurrency has greatly boosted industry confidence.
Although many African countries still impose restrictions on cryptocurrency trading, some, including Nigeria and Ghana, are actively building legal frameworks for exchanges.
Odia mentioned that the company is currently prioritizing applying for an operating license in Nigeria, which recently enacted a new securities law covering digital assets.
The Central Bank of Ghana has released draft regulatory guidelines, planning to officially regulate crypto platforms starting in September 2025, while Kenya remains in the research phase.
Cryptocurrency exchange blockchain.com. Source: Blockchain.com
Odia further emphasized that these regulatory signals are crucial for Blockchain.com's strategic layout across the African continent. The exchange believes that the region's young population structure and currency instability are key factors driving cryptocurrency adoption.
Cointelegraph has reached out to Blockchain.com for further comments but has not received a response as of the time of publication.
According to data from its official website, Blockchain.com claims to have 37 million verified users, 92 million wallets, and a total transaction volume exceeding $1 trillion.
In 2022, Blockchain.com completed a significant funding round, with its valuation skyrocketing from $5.2 billion to $14 billion in less than two months before the collapse of Do Kwon's Terra ecosystem.
However, the $110 million Series E funding in 2023 significantly reduced its valuation by more than half compared to 2022.
South Africa is emerging as a leader in the African cryptocurrency space, positioning itself as a regional hub for digital assets.
According to Ben Caselin, Chief Marketing Officer of Johannesburg-based crypto exchange VALR, South Africa's strong legal infrastructure and business-friendly environment make it an ideal starting point for crypto companies expanding their operations across the African continent.
In an interview with Cointelegraph in September 2024, Caselin emphasized that regulatory clarity is the core driving force attracting local and international participants to the South African market.
The momentum continues to build, as of March 2024, the South African Financial Sector Conduct Authority (FSCA) has approved 59 cryptocurrency platform licenses, with over 260 applications still under review.
Related: Indonesia may become a new benchmark for global cryptocurrency adoption
Original article: “Blockchain.com Expands in Africa as Local Cryptocurrency Rules Take Shape”
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