Blockchain.com Set to Expand in Africa as Crypto Regulations Emerge

Blockchain.com, a cryptocurrency exchange and wallet provider, is broadening its reach into regions of Africa where cryptocurrency regulations are starting to take shape.

The company is targeting Ghana, Kenya, and South Africa, and plans to establish a physical office in Nigeria this quarter, recognizing it as the fastest-growing market in West Africa, according to Bloomberg.

Nigeria has recently enacted a new investment and securities law that includes measures for licensing and regulating cryptocurrency exchanges.

“Nigeria has made significant progress in establishing a transparent framework for crypto,” remarked Owenize Odia, Blockchain.com’s general manager for Africa. “Securing a crypto-exchange license in Nigeria is a top priority.”

Other nations are also making strides. The Bank of Ghana issued draft guidelines last year . In Kenya, the focus is still on research to gain a deeper understanding of the asset class.

This initiative follows Blockchain.com’s earlier move this year towards a potential initial public offering (IPO), highlighted by new executive appointments.

This development coincides with Circle Internet group, the entity behind the USDC stablecoin, filing for an IPO on the New York Stock Exchange, as an increasing number of crypto firms pursue public listings.

Read more: Stablecoin Giant Circle Files for IPO on NYSE

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