Blockchain.com eyes African expansion amid crypto rule changes

Blockchain.com appears to be betting on Africa’s crypto future, where regulations could transform a once-restrictive market.

Crypto wallet and exchange platform Blockchain.com is reportedly looking to grow in Africa as some countries begin introducing regulations for digital assets, Bloomberg reports.

According to Owenize Odia, Blockchain.com’s general manager for Africa operations, the company is focusing on Nigeria, Ghana, Kenya, and South Africa, with plans to open a physical office in Nigeria in Q2. Nigeria is Blockchain.com’s “fastest-growing market” in West Africa, Odia said, adding that the country “has taken meaningful steps toward creating a clear framework for crypto.”

While most African nations still ban or tightly control crypto trading, a few are slowly changing their approach. Nigeria recently passed a new investment law that allows licensing for crypto exchanges.

Ghana may also introduce rules soon as Odia noted that Ghana’s central bank has draft guidelines showing “its intention to begin regulating cryptocurrency and related platforms by the end of September 2025.” Meanwhile, Kenya is still studying how to oversee crypto before making decisions.

Africa is quickly becoming a hotspot for crypto adoption, and South Africa appears to be leading the charge. A new report by the Financial Sector Conduct Authority highlights growing opportunities in South Africa’s decentralized finance sector.

While still small globally, South Africa’s DeFi market is expanding quickly, with total value locked exceeding $27 million and projections reaching $180 million by 2028. Payments remain the most common use case (over 50%), followed by lending/borrowing (47.6%) and decentralized exchanges (33%).