Blockchain.com opens Nigeria office as first foreign crypto firm to establish physical presence
- Blockchain.com will open a physical office in Nigeria in Q2 2025, becoming the first foreign cryptocurrency exchange in the country.
- The company plans to expand operations into Ghana, Kenya, and South Africa.
- Nigeria's SEC has introduced new licensing requirements for foreign cryptocurrency firms under the Investments and Securities Act.
The establishment of a physical presence by Blockchain.com in Nigeria is a significant step towards legitimizing the cryptocurrency market in Africa. This move could catalyze further regulatory developments and attract more foreign investment, but it also raises questions about how local regulations will adapt to accommodate such rapid growth. The success of Blockchain.com in Nigeria may serve as a model for other countries in the region, but it will be crucial for regulators to strike a balance between oversight and innovation.
