Blockchain.com, one of the world’s largest cryptocurrency platforms, is set to open its first African office in Nigeria this quarter. This move capitalizes on the country’s recent advancements toward clear cryptocurrency regulation, positioning the company in West Africa’s fastest-growing market.
Why Nigeria?
Nigeria has become Blockchain.com’s top market in West Africa, boasting over three million created wallets. This rapid growth is fueled by a tech-savvy, youthful population and ongoing volatility in the naira. Recent regulatory changes enhance this environment: the 2025 Investment and Securities Act now explicitly covers digital assets, paving the way for licensed exchanges.
Owenize Odia, Blockchain.com’s General Manager for Africa, confirms that securing a Virtual Asset Service Provider (VASP) application is “our top priority.”
Pan-African expansion strategy
Blockchain.com plans to expand its presence beyond Nigeria to Ghana, Kenya, and South Africa regions where developing guidelines or research initiatives indicate forthcoming cryptocurrency frameworks. Odia emphasizes that these regulatory milestones will be crucial for the exchange’s on-the-ground investments.
Local impact and opportunities
Job creation: The new office will employ local talent in compliance, customer support, and business development, aligning with Nigeria’s digital jobs initiative and fostering skills in blockchain technology.
Financial inclusion: Having a physical presence will enhance trust among Nigerian users and regulators. Additionally, targeted educational campaigns aim to onboard underbanked communities.
Partnerships: Blockchain.com is in discussions with banks and fintech startups to integrate crypto-fiat systems, boosting liquidity and expanding peer-to-peer trading options.
Regulatory landscape Nigeria: The SEC’s digital-asset licensing regime is currently operational, requiring exchanges to follow stringent KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols.
As global players compete for African markets, Blockchain.com’s office in Nigeria could serve as a model for integrating cryptocurrency into the continent’s economy. Success will depend on securing licenses, fostering relationships with regulators, and combining local insights with compliant, user-friendly services. If executed effectively, this initiative could mark a significant milestone for Blockchain.com and accelerate the integration of cryptocurrency into Africa’s digital economy.
