Competitors eyeing Africa's opportunities, Blockchain.com establishes its initial base in Nigeria
Blockchain.com Expands Presence in Africa, Focuses on Regulatory Compliance
Blockchain.com, a leading global crypto company, is making significant strides in Africa, particularly in Nigeria, where it has established its first physical office. The company's general manager for Africa, Owenize Odia, has stated that the company aims to be a trusted and compliant partner with regulators, policymakers, and users across Africa.
The Nigerian Securities and Exchange Commission (SEC) has been in contact with Blockchain.com regarding the regulation of virtual assets. This regulatory engagement is a crucial step for the company, as it seeks to operate in a compliant manner.
Blockchain.com sees value in 'localisation', hiring staff on the ground who understand market nuances and can engage directly with regulators. The company is not only expanding its hiring in Nigeria but also in other key markets, following a model of 'scaling fast but in a compliant way'.
Nigeria, currently the largest market for Blockchain.com in Africa, has seen a significant increase in user activity since the company announced its presence. The Investment and Securities Act (2025) in Nigeria explicitly brings virtual assets under the purview of the Securities and Exchange Commission (SEC), providing clear regulatory direction for global exchanges, including Blockchain.com.
The new law and renewed support for the naira have made Nigeria a launchpad for Africa's next phase of crypto expansion. In fact, Nigeria consistently ranks among the top countries globally for crypto adoption, despite years of regulatory uncertainty.
Blockchain.com has re-enabled naira withdrawals on its platform, reversing a pause from 2024 during Nigeria's regulatory crackdown on P2P crypto transactions. This move underscores the company's commitment to serving its Nigerian users.
In addition to its expansion in Nigeria, Blockchain.com is also looking to fill a compliance lead role in Ghana. This indicates the company's broader ambitions in the African market.
On a related note, Moonshot, an event by our website, is returning to Lagos on October 15-16, featuring Africa's top founders, creatives, and tech leaders. This event provides an excellent opportunity for Blockchain.com and other industry players to engage with the African tech community.
In conclusion, Blockchain.com's strategy reflects its regulatory priorities and ambition to scale quickly in high-adoption markets. The company's focus on compliance and localisation is expected to position it well for the next phase of crypto expansion in Africa.
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