Blockchain.com, a cryptocurrency exchange and wallet provider, is expanded to parts of Africa where crypto regulation begins to clot.
The company focuses on Ghana, Kenya and South Africa and plans to open a physical office in Nigeria this quarter with reference to it as the fastest growing market in West Africa, Bloomberg reports.
Nigeria recently passed a new investment and securities law that includes provisions on the license and regulation of cryptocurrency exchanges.
“Nigeria has taken meaningful steps towards creating a clear framework for crypto,” said Owenize Odia, Blockchain.com’s general manager for Africa. “Application for a Crypto replacement license in Nigeria is a highest priority.”
Other countries also lay the foundation. Bank of Ghana released draft guidelines last year. Kenya, meanwhile, is still in the research phase to further understand the asset class.
After earlier this year, the move comes Blockchain.com took a new step towards a potential preliminary public offer (IPO) through new executive appointments.
It comes when Circle Internet Group, the company behind USDC StableCein, filed for a listing on the New York Stock Exchange as an increasing number of crypto companies appear to be public.
Read more: Stablecoin Giant Circle files for listing NYSE
