Blockchain.com Grows in Africa as Crypto Rules Evolve

Blockchain.com, a leading global cryptocurrency exchange, is making significant strides in the African market.

Overview

On May 27 2025, Bloomberg reported that the exchange plans to open a physical office in Nigeria during the second quarter, along with broader expansion efforts in Ghana, Kenya, and South Africa. The company plans to increase its workforce by 25% in early 2024, focusing on entering new markets such as Nigeria and Turkey. This expansion is part of a broader strategy to establish a robust presence in emerging markets and navigate the evolving regulatory landscape.

Blockchain.com has appointed Curtis Ting, formerly Kraken’s head of global operations, as the new senior vice president of business operations to spearhead this growth. Ting’s primary role will involve establishing the company’s new hub in Paris and forming localised entities across Europe.

The company’s decision to focus on Nigeria is strategic, considering the country’s significant role in the global crypto economy. Nigeria ranks second worldwide in crypto adoption, with citizens leveraging crypto for business payments, as a hedge against inflation, and for retail-sized transfers. Blockchain.com’s African general manager, Owenize Odia, said, “Nigeria has taken meaningful steps toward creating a clear framework for crypto.”

Evolving Regulatory Landscape in Africa

Africa’s regulatory environment for cryptocurrencies is undergoing significant changes, creating a more conducive atmosphere for crypto businesses. In December 2023, Nigeria lifted its ban on cryptocurrencies and, by March 2024, released new draft guidelines to licence, register, and screen digital and virtual assets service providers. This move signals Nigeria’s intent to position itself as a digital finance leader on the continent. South Africa has also made notable progress. 

The Financial Sector Conduct Authority (FSCA) has classified crypto assets as financial products, mandating businesses offering financial services related to crypto assets to apply for a licence. As of June 2024, over 130 crypto providers had received approval. This regulatory clarity is expected to foster growth and innovation while ensuring market stability and consumer protection. Other African nations are following suit. Namibia passed a bill in June 2023 to legalise and establish regulations for virtual assets. Kenya is working on a regulatory and monitoring framework for using virtual assets and providing virtual asset services.

Implications for Africa’s Crypto Ecosystem

Blockchain.com’s expansion into Africa is poised to have significant implications for the continent’s crypto ecosystem. The company’s entry into Nigeria and South Africa could enhance access to crypto services, promote financial inclusion, and stimulate economic growth. The evolving regulatory landscape across Africa creates a more stable and predictable environment for crypto businesses. 

This regulatory clarity will likely attract more international players to the continent, further boosting the crypto industry’s growth. Moreover, the increased adoption of stablecoins in Africa, particularly in countries with volatile local currencies, facilitates cross-border trade and provides a reliable way to store value. This trend underscores the practical use cases of cryptocurrencies in the region and highlights the potential for further innovation and adoption.

Blockchain.com’s strategic expansion into Africa, coupled with the continent’s evolving regulatory landscape, is set to reshape the crypto industry in the region. As more countries establish clear regulatory frameworks, Africa emerges as a significant player in the global cryptocurrency economy.