Emerging Crypto Regulations Prompt Blockchain.com to Expand Throughout Africa

Blockchain.com Accelerates African Expansion Amid Growing Crypto Regulations

With clearer cryptocurrency regulations emerging across Africa, Blockchain.com is stepping up its expansion efforts on the continent.

The crypto exchange and wallet provider is targeting key markets such as Ghana, Kenya, and South Africa, and plans to launch a physical office in Nigeria this quarter, Bloomberg reports. Nigeria stands out as Blockchain.com’s fastest-growing market in West Africa.

Nigeria’s recent investment and securities legislation now includes regulatory guidelines for crypto exchanges, offering a much-needed licensing framework.

“Nigeria’s regulatory progress is a game changer,” said Owenize Odia, Blockchain.com’s Africa general manager. “Securing a crypto exchange license there is central to our strategy.”

Elsewhere, Ghana has published draft crypto guidelines, while Kenya remains in the exploratory phase of regulation.

This move comes alongside Blockchain.com’s strategic executive hires and signals its ambitions toward a possible IPO, following a growing trend of crypto firms going public, like Circle Internet Group’s recent USDC listing plans on the NYSE.