Global crypto firms are doubling down on Africa to capture the opportunities associated with massive adoption across the region.
Blockchain.com is the latest to join the fray, announcing expansion into the West African country of Ghana after a successful debut in neighboring Nigeria. The firm runs a crypto exchange and brokerage services for retail and institutional clients.
According to the firm, it recorded 700% growth in Nigeria. It sees a similar opportunity in Ghana, with Owen Odia, General Manager, Africa at Blockchain.com citing the significant interest across the region.
“Our growth in Nigeria over the past year has demonstrated the immense potential for digital assets across the African region.”
Beyond being a tool to hedge against local currency volatility, users in the region also leverage crypto for payments, remittances, and savings.
Crypto adoption in Africa
Interestingly, Nigeria’s initial adoption was primarily driven by local currency devaluation after the Naira (NGN) dropped by over 70% against the U.S dollar since 2021. This has made stablecoins such as USDT and USDC a better alternative.
Last year alone, Nigeria led sub-Saharan Africa in total crypto value of over $92 billion, according to Chainalysis.
This was triple South Africa’s $30 billion – The second-most active crypto market in the region. Ethiopia ranks third, driven by massive foreign investment in Bitcoin mining, tapping into its relatively cheap electricity.
Kenya is the fourth-largest crypto market, while Ghana closes the top five list.
Since Ghana shares a border with Nigeria and is among the top countries in terms of crypto adoption, Blockchain.com’s expansion seems plausible.
Growing institutional demand for crypto
That said, Africa’s crypto activity surged by 52% in 2025, reaching over $205 billion in on-chain value. It is currently ranked third globally in crypto adoption, after APAC and Latin America.
Surprisingly, a closer look at the two biggest crypto markets in the region showed that retail activity was relatively small, compared to institutional. In particular, South Africa has the highest number of high-ticket crypto volumes dominated by professional and institutional firms.
According to Chainalysis, South Africa’s robust institutional activity is due to an advanced regulatory framework for digital assets. This framework has allowed regional banks to explore crypto-related offerings. At the asset level, Bitcoin [BTC], USDT, and Ethereum are the top-traded crypto assets in the region.
Meanwhile, other countries such as Nigeria, Kenya, and Rwanda have been pushing for regulatory clarity to unlock their local crypto sectors. It remains to be seen how these regulatory efforts will further drive broader crypto adoption across the region.
Final Summary
- Blockchain.com is eyeing expansion into Ghana after a massive windfall in Nigeria amid massive demand for crypto.
- Demand underscores a broader trend where Africa’s crypto activity increased by 52% to $200 billion in 2025.
