Blockchain.com is setting its sights on Africa’s growing cryptocurrency market as regulatory landscapes in the region begin to evolve. The crypto wallet and exchange platform is positioning itself to take advantage of emerging opportunities by expanding operations across key African nations.

Targeting Key Markets in Africa

According to Owenize Odia, Blockchain.com’s General Manager for Africa, the company is focusing on countries such as Nigeria, Ghana, Kenya, and South Africa. The company plans to open a physical office in Nigeria by the second quarter of this year. Odia described Nigeria as Blockchain.com’s “fastest-growing market” in West Africa, noting that the country has made significant progress in creating a regulatory framework for cryptocurrencies.

Recently, Nigeria introduced a new investment law that permits licensing for crypto exchanges. This marks a pivotal move in a market where many African nations still impose bans or tight restrictions on cryptocurrency trading. Blockchain.com’s decision to establish a stronger presence in Nigeria reflects confidence in the country’s potential to lead the region’s crypto adoption.

Regulatory Developments Across Africa

Other African nations are also gradually making strides in regulating the cryptocurrency sector. In Ghana, the central bank has issued draft guidelines signaling its intention to regulate cryptocurrencies and related platforms by the end of September 2025. Meanwhile, Kenya is still in the process of studying the crypto space to determine the best approach to oversight.

These regulatory developments indicate a shift in how African governments view digital assets. As these frameworks take shape, they are likely to unlock new opportunities for both local and international crypto platforms.

South Africa Leading Crypto Adoption

South Africa stands out as a leader in Africa’s growing cryptocurrency landscape. The country is experiencing significant growth in its decentralized finance (DeFi) sector, according to a report by the Financial Sector Conduct Authority. The report highlights that South Africa’s DeFi market, though still relatively small on a global scale, is expanding rapidly. The total value locked in the country’s DeFi platforms has surpassed $27 million, with projections suggesting it could reach $180 million by 2028.

Payments currently dominate DeFi use cases in South Africa, accounting for over 50% of activity. Other prominent use cases include lending and borrowing (47.6%) and decentralized exchanges (33%). This growth underscores South Africa’s increasing role in shaping the continent’s crypto and DeFi ecosystem.

What This Means for Africa’s Crypto Future

Africa is emerging as a key region for cryptocurrency adoption, driven by a young, tech-savvy population and increasing smartphone penetration. As regulatory clarity improves, platforms like Blockchain.com are well-positioned to serve the growing demand for digital assets and decentralized financial services across the continent.

With Nigeria, Ghana, Kenya, and South Africa taking meaningful steps toward embracing cryptocurrencies, the region could see significant economic transformation. These developments not only provide opportunities for global crypto firms but also empower individuals and businesses across Africa to participate in the digital economy.

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