Blockchain.com Launches African Push in Nigeria, Ghana—Is Africa Crypto’s Next Frontier?

As African governments finally embrace crypto regulation, UK exchange Blockchain.com made its boldest move yet on May 27, 2025, announcing plans to open Nigeria’s first major international crypto office this quarter. Could this West African “fastest-growing market” become the continent’s crypto capital?

According to Bloomberg’s report, the expansion targets Ghana, Kenya, and South Africa alongside Nigeria, capitalizing on emerging regulatory frameworks and Africa’s surging crypto adoption rates as Blockchain.com seeks to capture market share following the post-2022 crypto shakeout.

Blockchain.com Expands into High-Usage, Underserved Crypto Markets

https://t.co/9Ied7k1SjP, a UK-based crypto exchange, is seeking to expand in African nations that have started to institute rules to regulate the industry https://t.co/Hf2S2F8J8N

— Bloomberg (@business) May 27, 2025

Blockchain.com is intensifying its global expansion strategy by targeting regions where crypto adoption is driven by necessity rather than speculation.

Its recent moves into Nigeria and Ghana reflect this approach, as both countries exhibit strong grassroots demand for digital assets and are actively working toward formal regulatory frameworks.

In Nigeria, ranked second globally in Chainalysis’ crypto adoption index, users rely heavily on digital assets for remittances, savings, and business transactions amid ongoing inflation and currency instability.

Blockchain.com plans to open offices and hire local teams to ensure alignment with compliance requirements as the country advances toward structured crypto oversight.

Ghana is also on Blockchain.com’s radar, with the government preparing to introduce the Virtual Asset Providers Bill.

This legislation would give the central bank authority to regulate crypto exchanges and wallet providers, and is expected to pass by September 2025. The bill would create Ghana’s first legal foundation for overseeing virtual asset activity, making it a prime candidate for early entry by major crypto firms.

Further south, South Africa is emerging as a key regional hub for digital assets. With a strong legal infrastructure and a business-friendly environment, the country has attracted both domestic and international crypto players.

📃 South Africa’s Regulator Approves 59 Crypto Licences: Report

South Africa’s regulator Financial Sector Conduct Authority (FSCA) has approved 59 operating licenses for cryptocurrency exchanges.#CryptoNews #newshttps://t.co/oWl9pKIYc4

— Cryptonews.com (@cryptonews) March 14, 2024

By March 2024, the Financial Sector Conduct Authority (FSCA) had approved 59 crypto platform licenses, with over 260 additional applications still under review.

CEO Peter Smith has noted the strength of grassroots adoption across Africa, where per-capita crypto usage often exceeds that of many Western countries.

Africa’s Growing Role in Global Crypto Flows

Blockchain.com’s expansion into Africa highlights a growing industry shift toward emerging markets. Other exchanges, including Yellow Card Financial, are following suit, applying for permits in Nigeria as the regulatory landscape becomes clearer.

Nigeria's SEC is preparing to take action against individuals and crypto exchanges that do not comply with its regulatory framework.https://t.co/gLgYdsiVbm

— Cryptonews.com (@cryptonews) September 9, 2024

Countries like Nigeria, Kenya, Ghana, and South Africa are increasingly featured in global blockchain and fintech reports, owing to rapid user growth, mobile-first populations, and a financial infrastructure gap left by traditional banks.

According to World Bank data from 2021, only 49% of Sub-Saharan Africans held a bank account. This widespread underbanking, combined with high mobile phone penetration, has created an ideal environment for the adoption of decentralized finance and stablecoins.

As global platforms enter the market, strong local activity continues to thrive. Africa-based crypto companies such as Yellow Card and Busha have secured venture capital and are scaling their services to meet rising demand.

The African crypto market is projected to generate over $2.9 billion in revenue by 2025. This momentum is fueled by the continent’s young, tech-savvy population, increasing smartphone access, and a pressing need for alternative financial tools in the face of currency instability.