Cryptocurrency platform, Blockchain.com, has stressed the importance of the Nigerian market, even as it awaits a crypto exchange license from the Nigerian Securities and Exchange Commission (SEC).

Blockchain.com said its strategy extends beyond trading to practical use cases like remittances, payments, and business transactions, where crypto is increasingly being adopted by Nigerian consumers and small businesses.

Country Head for Nigeria, Michael Emeeka, said the company’s market approach in Nigeria is to build trust with customers, invest in local talent, and educate the market about responsible crypto use.

As such, he said the country was chosen as a hub not just for its market size but for its tech-savvy population and the pace of digital adoption.

According to him, the country’s strong crypto culture made it an obvious choice for Blockchain.com’s regional expansion.

“We have over 80 million crypto wallets right now on Blockchain.com, and a substantial portion of that comes from Africa. Nigeria contributes a considerable share of those wallets.

“The country has one of the highest crypto adoption rates globally, driven by its young, tech-savvy population and strong interest in digital assets,” Emeeka said.

He added that Nigeria ranks number one in Africa and second globally, behind India, in terms of cryptocurrency adoption.

Emeeka said Blockchain.com’s immediate focus is securing its SEC license and ensuring its local operations meet global compliance standards.

Further, General Manager for Africa at Blockchain.com, Owenize Odia, said the company applied for a license from the SEC as it looks to align with local regulations and build a compliant, trusted crypto ecosystem.

“Nigeria is a very important market for Blockchain.com. Compliance is fundamental to how we operate. We engage regulators openly, and in Nigeria, we have met with the SEC and applied for the appropriate license,” Odia said.