When Blockchain.com first hinted at an African expansion earlier this year, insiders weren’t surprised that Nigeria was at the top of the list. The country is too big, too fast-moving, and too crypto-curious to ignore. Now, seven months later, the UK-based crypto giant has made it official: Lagos is home to its first African office.
It’s a strategic move, but also a symbolic one. Nigeria has long been a paradox for the global crypto industry. On the one hand, it consistently ranks among the top 10 countries in the world for crypto adoption. On the other hand, regulators have oscillated between crackdowns and cautious engagement, leaving many platforms to operate at arm’s length.
That began to shift with Nigeria’s new Investment and Securities Act (2025), which explicitly put virtual assets under the oversight of the Securities and Exchange Commission (SEC). For exchanges like Blockchain.com, it was the clarity they had been waiting for.
Owenize Odia, Blockchain.com’s General Manager for Africa, said that their numbers had grown by 100% since they had announced their presence in February. She added that Nigeria was their biggest market in Africa, and that this had given them the confidence to establish a physical presence there because they were seeing a clear direction on how virtual assets would be regulated.
From Remote to Local
Blockchain.com isn’t just dipping its toes in. The company has hired across compliance, business development, customer success, and growth roles in Nigeria, signalling it wants more than just a mailing address. In Ghana, it’s hiring for a compliance lead, a move that shows regulation will shape its African strategy as much as adoption trends.
The company’s expansion playbook is simple: scale quickly but stay onside with regulators. Odia says the firm wants to be “trusted and compliant partners of regulators, policymakers, and users across Africa.” That means building local teams who can navigate market nuances, speak the regulatory language, and adapt the platform to African realities.
This approach marks a shift from how many crypto firms have operated on the continent, often remotely, with little physical footprint. For Blockchain.com, localisation is the differentiator.
Betting on Nigeria
The decision also comes with timing in mind. In September, Blockchain.com re-enabled naira withdrawals on its platform, ending a pause triggered by last year’s regulatory freeze on peer-to-peer crypto transactions. Restoring that functionality is more than a technical update. It’s a sign that the company is willing to adjust, comply, and re-engage with Nigerian users under the new rules.
And users are responding. Mariblock had reported months ago that activity on Blockchain.com’s platform was already doubling in Nigeria, even before the office opened. Now, with physical operations underway, the company is betting that Nigeria won’t just be its biggest African market today, but the launchpad for expansion into other countries. Licenses in three other African jurisdictions are already being pursued.
The Bigger Picture
Blockchain.com’s entry says something about Nigeria’s broader crypto moment. After years of ambiguity, Africa’s largest economy is beginning to formalise the rules of the game. That clarity is drawing in global players who might have hesitated before.
Of course, challenges remain. Regulatory processes move slowly, and approvals for exchanges are still pending. Globally, crypto firms are also under pressure, from market volatility to heightened scrutiny in Europe and the U.S. But if Blockchain.com’s wager pays off, its Lagos office could become a milestone: proof that Africa isn’t just a market for crypto adoption, but a stage where regulation and innovation can finally meet.
For Nigeria, it’s another sign that the story of crypto is moving from the shadows into the mainstream. And for Blockchain.com, planting a flag here isn’t just about capturing growth. It’s about staying early, staying compliant, and, hopefully, staying relevant.
