Global crypto platform Blockchain.com has announced plans to make Nigeria its operational base for Africa as it seeks a crypto exchange license from the Nigerian Securities and Exchange Commission (SEC). The move signals growing confidence in Nigeria’s emerging digital economy and positions the country at the centre of the company’s continental expansion strategy.
In an interview with Nairametrics, Blockchain.com’s Country Head for Nigeria, Michael Emeeka, said the decision was driven by Nigeria’s large market size, tech-savvy population, and strong digital adoption rate. He noted that the country’s enthusiasm for crypto makes it an ideal base for expansion. “We have over 80 million crypto wallets on Blockchain.com, and a significant portion of those are from Africa. Nigeria contributes a considerable share,” Emeeka said, adding that the country ranks first in Africa and second globally—behind India—in cryptocurrency adoption.
Emeeka emphasised that Blockchain.com’s immediate goal is to secure its SEC license to ensure full compliance with Nigerian laws and global standards. The company, which already operates under licenses in several other jurisdictions, is also engaging with key financial institutions, including the Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS), and the National Institute of Credit Administration (NICA). Beyond trading, the company plans to expand into practical applications such as remittances, payments, and business transactions—areas where digital assets are gaining traction among Nigerian consumers and small businesses.
According to Emeeka, Blockchain.com’s strategy is to foster trust and promote financial literacy through local investment and community education. “Our focus is not just on growing numbers but on building confidence in the market by encouraging responsible crypto use,” he said.
At a media event in Lagos, Blockchain.com’s General Manager for Africa, Owenize Odia, reaffirmed the company’s commitment to aligning with Nigeria’s regulatory environment. “Compliance is at the core of how we operate,” she said. “We have met with the SEC and applied for the necessary license to build a transparent and compliant crypto ecosystem in Nigeria.”
Compliance Officer Serena Braide added that Blockchain.com adheres to strict international financial integrity standards. She highlighted the company’s focus on Know-Your-Customer (KYC) verification, customer due diligence, sanctions screening, and continuous transaction monitoring. “We welcome regulatory oversight because it promotes transparency and long-term stability,” she said.
The SEC began shaping Nigeria’s crypto regulatory framework last year, granting Approval-in-Principle to two local exchanges—Quidax and Busha—under its Accelerated Regulatory Incubation Program (ARIP). The Commission noted that more firms are under review and will receive similar approval once they meet all requirements.
Blockchain.com’s entry into Nigeria’s regulated crypto market marks a major milestone for both the company and the country’s growing digital economy. If approved, its presence could strengthen investor confidence and help integrate Nigeria more deeply into the global blockchain ecosystem.
