Cryptocurrency Firm to Open First Physical Office in Nigeria, Expand to Ghana, Kenya, South Africa

• Blockchain.com plans to open its first physical office in Nigeria by Q2 2025, aiming to expand further into Ghana, Kenya, and South Africa
• This marks a significant step as Nigeria implements clearer cryptocurrency regulations, requiring licensing for international firms
• The growing presence of global crypto companies highlights the increasing regulatory focus across Africa, fostering industry growth and innovation

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

As regulatory clarity increases throughout the continent, Blockchain.com, a UK-based company that enables users to buy, sell, and trade cryptocurrencies, intends to open a physical office in Nigeria in Q2 2025 and then expand into Ghana, Kenya, and South Africa.

This move was initially reported by Bloomberg and represents a major push into African markets.

By expanding into Nigeria, Blockchain.com would become the first international cryptocurrency company to open a physical location there, potentially changing the competitive environment for regional firms.

“Nigeria has taken meaningful steps towards creating a clear framework for crypto. Applying for a crypto exchange licence in Nigeria is a top priority,” General Manager for Blockchain.com’s Africa Operations, Owenize Odia, told Bloomberg.

The company's African expansion coincides with the further p*netration of international cryptocurrency behemoths like Coinbase in Africa.

In May 2025, Norway-based Opera released an iOS version of its stablecoin wallet app, MiniPay, in an effort to attract more African customers. The increased presence of foreign companies on the continent may put pressure on African regulators to expedite the creation of transparent and uniform frameworks for digital assets.

By 2025, the cryptocurrency sector in Africa is predicted to bring in over $2.9 billion. Blockchain.com claims that Nigeria is one of its fastest-growing markets, although it does not reveal how many users it has in Africa. The platform boasts more than 37 million verified users worldwide.

Since the Securities and Exchange Commission (SEC) of Nigeria made cryptocurrency licensing essential for international businesses, Blockchain.com would be the first foreign cryptocurrency company to apply for a licence in Nigeria.

The SEC was given the authority to oversee digital assets by Nigeria's recently passed Investments and Securities Act (March 2025), which formally recognised them as securities. This long-awaited action may encourage further innovation and investment in the industry.

While South Africa has already enacted laws requiring cryptocurrency platforms to have a licence in order to operate, Ghana and Kenya are also developing frameworks to regulate cryptocurrencies elsewhere on the continent.

These changes, together with the arrival of companies like Blockchain.com, show that African governments are beginning to realise how important regulation is to the growth of the cryptocurrency industry on the continent, which will be beneficial.

The best way for Blockchain.com to demonstrate its dedication to Africa will be to open a physical location and make local investments.

Nigeria's SEC to tax crypto transactions

Legit.ng reported that to guarantee that all qualified transactions on regulated exchanges are included in the official tax net, the Securities and Exchange Commission (SEC) is revising its regulations.

In an emailed answer to inquiries, the commission stated in a report published by Bloomberg that it aims to increase revenue by imposing taxes on digital transactions and cryptocurrency trading.

The SEC admitted that bitcoin transactions will generate a significant amount of tax income, but it did not indicate how much revenue it expected to generate.

Source: Legit.ng