Share this article
Blockchain.com to Expand Across Africa as Crypto Regulation Begins to Take Shape
The firm is expanding its presence in the continent as it begins to develop clearer regulations around cryptocurrency.
May 27, 2025, 12:29 p.m.
Make us preferred on Google
What to know:
- Blockchain.com is expanding its operations into several African countries, including Ghana, Kenya, and South Africa,
- The firm plans on opening a physical office in Nigeria, which it says is its fastest-growing market in West Africa.
- Nigeria has recently passed a new investment and securities law that includes provisions for licensing and regulating cryptocurrency exchanges.
Blockchain.com, a cryptocurrency exchange and wallet provider, is expanding into parts of Africa where crypto regulation is beginning to solidify.
The company is focusing on Ghana, Kenya, and South Africa, and plans to open a physical office in Nigeria this quarter, citing it as its fastest-growing market in West Africa, Bloomberg reports.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Nigeria recently passed a new investment and securities law, which includes provisions for licensing and regulating cryptocurrency exchanges.
“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” said Owenize Odia, Blockchain.com’s general manager for Africa. “Applying for a crypto-exchange license in Nigeria is a top priority.”
Other countries are also laying the groundwork. The Bank of Ghana released draft guidelines last year . Kenya, meanwhile, is still in the research phase to further understand the asset class.
The move comes after earlier this year Blockchain.com took a new step towards a potential initial public offering (IPO) through new executive appointments.
That comes as Circle Internet group, the firm behind the USDC stablecoin, filed for an IPO on the New York Stock Exchange as an increasing number of crypto firms look to go public.
Higit pang Para sa Iyo
'We do not do illegal things': Inside a U.S.-sanctioned stablecoin issuer's race to build a crypto giant
Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.
Ano ang dapat malaman:
- Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
- A7A5, whose issuing entities and reserve bank are sanctioned by the U.S. Treasury, has grown faster than USDT and USDC and aims to handle more than 20 percent of Russia’s trade settlements, primarily serving businesses in Asia, Africa and South America trading with Russian partners.
- Ogienko said that he and his team were developing partnerships with blockchain platforms and exchanges during Consensus in Hong Kong, though declined to name specifics.
Top Stories
