Blockchain.com, an cryptocurrency and portfolio exchange provider, develops in some parts of Africa where cryptography regulations are starting to solidify.
Society focuses on Ghana, Kenya and South Africa, and plans to open a physical office in Nigeria this quarter, citing it as its fastest market in West Africa, reports Bloomberg.
Nigeria has recently adopted a new investment and securities law, which includes provisions for licenses and regulation of cryptocurrency exchanges.
“Nigeria has taken significant measures towards the creation of a clear framework for the crypto,” said Owenize Odia, CEO of Blockchain.com for Africa. “The request for an crypto exchange license in Nigeria is an absolute priority.”
Other countries also set the foundations. Last year, the Bank of Ghana published a project of guidelines. Kenya, on the other hand, is still in the research phase to better understand the asset class.
This decision comes after earlier this year, Blockchain.com has taken a new step towards a potential first public offer (IPO) through new management appointments.
This comes then that Circle Internet Group, the company behind the USDC Stablecoin, has filed an IPO on the New York Stock Exchange while an increasing number of crypto companies are looking to become public.
Read more: Giant Circle Files Stablecoin for the IPO on NYSE
