Revealed! Cryptocurrency company set to open office in Nigeria

• Blockchain.com plans to unfastened its archetypal carnal bureau successful Nigeria by Q2 2025, aiming to grow further into Ghana, Kenya, and South Africa
• This marks a important measurement arsenic Nigeria implements clearer cryptocurrency regulations, requiring licensing for planetary firms
• The increasing beingness of planetary crypto companies highlights the expanding regulatory absorption crossed Africa, fostering manufacture maturation and innovation

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

As regulatory clarity increases passim the continent, Blockchain.com, a UK-based institution that enables users to buy, sell, and commercialized cryptocurrencies, intends to unfastened a carnal bureau successful Nigeria successful Q2 2025 and past grow into Ghana, Kenya, and South Africa.

Bitcoin.com African enlargement coincides with the further p*netration of planetary cryptocurrency. Photo Credit: Contributor
Source: Getty Images

This determination was initially reported by Bloomberg and represents a large propulsion into African markets.

By expanding into Nigeria, Blockchain.com would go the archetypal planetary cryptocurrency institution to unfastened a carnal determination there, perchance changing the competitory situation for determination firms.

“Nigeria has taken meaningful steps towards creating a wide model for crypto. Applying for a crypto speech licence successful Nigeria is simply a apical priority,” General Manager for Blockchain.com’s Africa Operations, Owenize Odia, told Bloomberg.

The company's African enlargement coincides with the further p*netration of planetary cryptocurrency behemoths similar Coinbase successful Africa.

In May 2025, Norway-based Opera released an iOS mentation of its stablecoin wallet app, MiniPay, successful an effort to pull much African customers. The accrued beingness of overseas companies connected the continent whitethorn enactment unit connected African regulators to expedite the instauration of transparent and azygous frameworks for integer assets.

By 2025, the cryptocurrency assemblage successful Africa is predicted to bring successful implicit $2.9 billion. Blockchain.com claims that Nigeria is 1 of its fastest-growing markets, though it does not uncover however galore users it has successful Africa. The level boasts much than 37 cardinal verified users worldwide.

Since the Securities and Exchange Commission (SEC) of Nigeria made cryptocurrency licensing indispensable for planetary businesses, Blockchain.com would beryllium the archetypal overseas cryptocurrency institution to use for a licence successful Nigeria.

The SEC was fixed the authorization to oversee integer assets by Nigeria's precocious passed Investments and Securities Act (March 2025), which formally recognised them arsenic securities. This long-awaited enactment whitethorn promote further innovation and concern successful the industry.

The champion mode for Blockchain.com to show its dedication to Africa volition beryllium to unfastened a carnal determination and marque section investments. Photo Credit: Contributor
Source: Getty Images

While South Africa has already enacted laws requiring cryptocurrency platforms to person a licence successful bid to operate, Ghana and Kenya are besides processing frameworks to modulate cryptocurrencies elsewhere connected the continent.

These changes, unneurotic with the accomplishment of companies similar Blockchain.com, amusement that African governments are opening to realise however important regularisation is to the maturation of the cryptocurrency manufacture connected the continent, which volition beryllium beneficial.

The champion mode for Blockchain.com to show its dedication to Africa volition beryllium to unfastened a carnal determination and marque section investments.

Nigeria's SEC to taxation crypto transactions

Legit.ng reported that to warrant that each qualified transactions connected regulated exchanges are included successful the authoritative taxation net, the Securities and Exchange Commission (SEC) is revising its regulations.

In an emailed reply to inquiries, the committee stated successful a study published by Bloomberg that it aims to summation gross by imposing taxes connected integer transactions and cryptocurrency trading.

The SEC admitted that bitcoin transactions volition make a important magnitude of taxation income, but it did not bespeak however overmuch gross it expected to generate.

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Source: Legit.ng