The crypto ecosystem in Africa's largest economy is rapidly heating up. According to the latest data, from July 2023 to June 2024, Nigeria's total cryptocurrency trading volume reached $59 billion, ranking second globally only behind India. What does this figure reflect?

Nigeria has a population of over 200 million, with 73% of respondents having held or purchased cryptocurrencies — the highest ratio worldwide. More importantly, the country's C2C (peer-to-peer) trading volume ranks first in the world, with a 99% crypto awareness rate and an 84% wallet ownership rate, indicating that this market has already reached a considerable level of maturity. Institutions estimate that Nigeria's crypto market size will reach $2.4 billion by 2025.

Because of this market potential, more and more platforms are beginning to focus on Africa. One exchange obtained a company registration certificate (Registration Number: 8997740) from the Corporate Affairs Commission (CAC) of Nigeria on November 14, 2025, officially launching its African strategy. This platform previously had operations in Singapore and Vietnam, and this time entering Nigeria, continues to follow a compliance-first global expansion strategy.

From Asia to Africa, the logic behind this wave of expansion is clear: rising user demand in emerging markets + localized compliance frameworks = the key to next-stage growth. By 2026, we may see more market competitors entering Africa, turning this blue ocean into a new battleground.