Blockchain.com, a prominent UK-based crypto exchange, has announced its ambitious plans to expand into Africa, with a particular focus on Nigeria and Ghana. This strategic move comes as African governments increasingly embrace crypto regulation, creating a more favorable environment for digital asset adoption. The expansion targets Nigeria, Ghana, Kenya, and South Africa, leveraging emerging regulatory frameworks and the continent's surging crypto adoption rates.

Blockchain.com's decision to enter these markets is driven by the necessity for digital assets in regions where traditional banking infrastructure is limited. In Nigeria, for instance, users rely heavily on digital assets for remittances, savings, and business transactions due to ongoing inflation and currency instability. The country is ranked second globally in Chainalysis’ crypto adoption index, highlighting the strong grassroots demand for digital assets.

To ensure compliance with local regulations, Blockchain.com plans to open offices and hire local teams in Nigeria. This move aligns with the country's advancing structured crypto oversight. Similarly, Ghana is preparing to introduce the Virtual Asset Providers Bill, which would give the central bank authority to regulate crypto exchanges and wallet providers. This legislation is expected to pass by September 2025, creating Ghana’s first legal foundation for overseeing virtual asset activity.

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. By March 2024, the Financial Sector Conduct Authority (FSCA) had approved 59 crypto platform licenses, with over 260 additional applications still under review. This regulatory clarity has made South Africa an attractive market for crypto firms.

Blockchain.com's expansion into Africa is part of a broader industry shift toward emerging markets. Other exchanges, including Yellow Card Financial, are also applying for permits in Nigeria as the regulatory landscape becomes clearer. Countries like Nigeria, Kenya, Ghana, and South Africa are increasingly featured in global blockchain and fintech reports due 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. Blockchain.com's entry into these markets underscores the growing recognition of Africa as a key frontier for crypto adoption and innovation.