Blockchain.com is carrying forward its presence in Africa, targeting markets where governments are beginning to implement formal crypto rules.
The United Kingdom-based exchanges plan to open a physical office in Nigeria during the second quarter of 2025-its “fastest growing market” in west Africa-amidst extensive expansion efforts in Ghana, Kenya and South Africa. According May 27 report by Bloomberg.
“Nigeria has taken meaningful steps towards creating a clear framework for Crypto,” said Blockchain.com General Manager Odia for Africa, said, allegedly said.
The step comes as a global spirit change, including the President, where the President from the United States, where the President. Donald Trump’s supporter-crypto trend The expansion of the industry has been encouraged.
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Nigeria and Ghana lead in crypto regulation
While cryptocurrency trading is restricted in many African countries, some, including Nigeria and Ghana, are taking steps towards making legal structures for exchanges.
Odia said the company is giving priority to a license application in Nigeria, which has recently implemented a new security law covering digital assets.
Ghana’s Central Bank issued draft guidelines, indicating plans to regulate crypto platforms by September 2025, while Kenya is still in the research phase.
Odia said that such signs of regulator intention are important for the expansion decisions of the blockchain.com across the continent. The exchange sees the youth population and currency volatility of the region as factors adopting crypto.
Cointelegraph reached Blockchain.com for comments, but did not receive reactions by publication.
Blockchain.com claims more than $ 1 trillion in 37 million verified users, 92 million wallets and transactions, According On your website.
In 2022, Blockchain.com A funding round closed with its evaluation Spike less than $ 5.2 billion to $ 14 billion two months ago Falling of Terra Ecosystem of Do Quon,
However, $ 110 million series e -financeing Half more than goals in 2023 Its 2022 evaluation
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South Africa goes into a crypto race
South Africa is emerging as a precursor in Africa’s crypto race, the country in its own position as a regional center for digital assets.
According to Johannesburg -based Crypto Exchange Valr, South Africa’s strong legal infrastructure and Chief Marketing Officer Ben Caselin in business -friendly environment, Make it an ideal launchpad for crypto companies To expand the entire continent.
In the September 2024 interview with Cointelegraph, Caselin emphasized that regulator clarity is a major factor that attracts both local and international players to South Africa.
With the Financial Sector Conduct Authority (FSCA), the construction of speed continues 59 approval of Crypto Platform License By March 2024, more than 260 applications remain subject to review.
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