Blockchain.com, a cryptocurrency and wallet exchange supplier, is expanding to Africa parts where cryptographic 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 Western Africa, reports Bloomberg.
Nigeria recently approved a new Investment and Securities Law, which includes provisions for licenses and regulation of cryptocurrency exchanges.
“Nigeria has taken significant steps to create a clear framework for cryptography,” said Owenize Odia, general manager of Africa de Blockchain.com. “Requesting a cryptographic exchange license in Nigeria is a priority.”
Other countries are also laying the bases. The Bank of Ghana published a draft of patterns last year. Kenya, meanwhile, is still in the investigation phase to better understand the kind of assets.
The measure occurs after earlier this year blockchain.com took a new step towards a possible initial public offer (IPO) through new executive appointments.
That comes when Circle Internet Group, the firm behind the USDC Stablcoin, requested an OPI on the New York Stock Exchange as a growing number of cryptographic firms seeking to leave public.
Read more: Stablecoin giant circle files for IPO in Nyse
