Blockchain.com to Expand Across Africa as Crypto Regulation Begins to Take Shape

CoinDesk
CoinDesk
USDC+0.11%

Blockchain.com, a cryptocurrency exchange and wallet provider, is expanding into parts of Africa where crypto regulation is beginning to solidify.

The company is focusing on Ghana, Kenya, and South Africa, and plans to open a physical office in Nigeria this quarter, citing it as its fastest-growing market in West Africa, Bloomberg reports.

Nigeria recently passed a new investment and securities law, which includes provisions for licensing and regulating cryptocurrency exchanges.

“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” said Owenize Odia, Blockchain.com’s general manager for Africa. “Applying for a crypto-exchange license in Nigeria is a top priority.”

Other countries are also laying the groundwork. The Bank of Ghana released draft guidelines last year . Kenya, meanwhile, is still in the research phase to further understand the asset class.

The move comes after earlier this year Blockchain.com took a new step towards a potential initial public offering (IPO) through new executive appointments.

That comes as Circle Internet group, the firm behind the USDC stablecoin, filed for an IPO on the New York Stock Exchange as an increasing number of crypto firms look to go public.

Read more: Stablecoin Giant Circle Files for IPO on NYSE

Visit source
19.01K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.