Blockchain.com plans to expand in Africa starting with Nigeria, Ghana, Kenya, and South Africa.
Clear crypto regulations in Nigeria and Ghana drive Blockchain.com’s growth plans in Africa.
South Africa leads Africa in crypto licenses and DeFi growth attracting global platforms.
Blockchain.com is planning to build up its presence in the African crypto market. The platform intends to concentrate its attention on nations with well-defined crypto rules. The company has identified Nigeria, Ghana, Kenya and South Africa as its key priorities.
https://twitter.com/CryptoCoinShow/status/1927500067302232242 Nigeria Leads with Regulation and Growth
Blockchain.com plans to open its first physical office in Nigeria by mid-year. The country currently shows the fastest growth in West Africa for the company. This expansion comes as Nigeria introduces a new securities law for digital assets.
The law allows crypto exchanges to apply for licenses. This regulatory clarity has encouraged Blockchain.com to pursue a crypto exchange license in the country.
Ghana is preparing to regulate digital assets more formally. The Bank of Ghana has issued draft guidelines to that effect. Officials expect final regulations to take effect by September 2025. These steps position Ghana as one of the few African nations embracing formal oversight.
Kenya Remains in Evaluation Phase
Kenya has not yet finalized its stance on cryptocurrencies. Authorities are still studying the asset class. Clear policy direction has not been announced. However, ongoing research signals that regulation may arrive in the near future.
South Africa has advanced in setting rules for crypto platforms. The Financial Sector Conduct Authority has awarded around 60 licenses as of early 2024. Another 260 applications are under review.
The country’s decentralized finance sector continues to grow rapidly. Total value locked in DeFi projects is on the rise. Payments lead usage, followed by lending and decentralized exchanges.
Africa’s Youth and Currency Instability Drive Adoption
A young population and currency instability contribute to rising crypto interest in Africa. Blockchain.com sees these factors as crucial to its expansion strategy. The company also believes that regulatory clarity is key to market success. That belief guides its decision to focus on countries moving toward structured frameworks.
Blockchain.com currently serves 37 million users. It manages over 92 million wallets worldwide. To date, the platform has handled transactions worth over $1 trillion. An investment round in 2022 put the company’s valuation at $14 billion.
Lightspeed Venture Partners and Baillie Gifford & Co. participated in the investment round. This strong backing supports its ambitions in emerging markets like Africa.
Africa Offers Strategic Opportunity
Blockchain.com is advancing into Africa at a time of shifting global opinion on crypto. Support from policymakers and regulators is increasing. The firm sees the continent’s changing legal landscape as a sign of readiness. Expansion efforts now align with local laws, growing demand, and rising crypto engagement.