Cryptocurrency services provider Blockchain.com has designated Nigeria as the core of its African growth strategy following a 100% increase in user activity since establishing a physical office in Lagos. The London-based firm, founded in 2011, is leveraging its long-standing presence in the digital asset space to build a regulated financial ecosystem on the continent, starting with Africa’s largest crypto economy.

A Strategic Push into a Vibrant Market

With over 90 million users in 200 countries, Blockchain.com is one of the industry’s oldest players. Company executives stated that Nigeria’s dynamic crypto user base, youthful population, and increasing demand for alternative financial tools make it the ideal anchor for its continental ambitions. Owenize Odia, the company’s General Manager for Africa, described the move as a long-term commitment.

“We’ve been in this business since 2010, and what we want to show Nigerians now is that we’re here to stay,” Odia said during a media briefing in Lagos. “Blockchain.com is a Nigerian company, incorporated locally, hiring locally, and fully committed to building trust with users.” She added that the company aims to use its Nigerian operations as a launchpad for expansion into other key markets, including Ghana and Kenya.

Navigating Regulation with a Compliance-First Approach

Blockchain.com is entering a market with a developing regulatory framework. Nigeria’s Securities and Exchange Commission (SEC) introduced rules for virtual asset providers in May 2022, and the Central Bank of Nigeria lifted its ban on crypto-related bank accounts in late 2023. The company views these regulations as an opportunity rather than a hurdle.

Serena Braide, the Compliance and Money Laundering Reporting Officer for Nigeria, emphasized that the firm operates as if it were already licensed while awaiting formal approval. “At Blockchain.com, compliance is at the core of everything we do,” Braide stated. “We conduct due diligence on every customer, run them through watchlists and sanctions databases, and continue to monitor their transactions.” She noted that clear regulations build credibility and protect the entire ecosystem.

New Services Tailored for Local Users

Beyond compliance, the company is rolling out products designed specifically for the African market. Chisom Felix, the Marketing Lead for Nigeria, announced plans for an integrated finance app that will allow users to buy and trade up to 100 tokenized U.S. stocks using the Nigerian naira.

“In our app, you can now buy Tesla, Google, and Apple shares right alongside your crypto holdings,” Felix explained. “This is what Africans want—an all-in-one platform that gives them options.”

Michael Emeka, Head of Business and Customer Operations for Nigeria, confirmed the tokenized stock feature is set to launch soon. He stressed that the company’s goal is to integrate digital assets into daily life for payments, remittances, and trading. “We’ve hired Nigerians who understand the market and can build trust with local users. Education is key to this,” Emeka said.

Tapping into a High-Adoption Market

Nigeria remains a global hotspot for cryptocurrency activity. The 2024 Geography of Cryptocurrency Report from Chainalysis ranked the country third in global crypto adoption and first in Africa for peer-to-peer trading volume. With remittances to Nigeria exceeding $20 billion last year, according to the World Bank, crypto is increasingly seen as a faster and cheaper alternative for cross-border transfers.

Blockchain.com’s focus on local engagement and regulatory alignment mirrors the strategies of other global firms aiming to capture Africa’s rapidly growing digital finance sector. “Our focus is on compliance, education, and long-term value creation for African users,” Odia concluded. “We’re not here for hype; we’re here to build.”