Blockchain.com Joins Nigeria’s SEC Regulatory Incubation Programme

Blockchain.com has been admitted into the Accelerated Regulatory Incubation Programme (ARIP) of the Securities and Exchange Commission (SEC) of Nigeria, adding one of the world’s longest-standing cryptocurrency companies to the regulator’s growing cohort of digital-asset businesses operating within its regulatory framework.

The company announced the development on August 14, saying the admission advances its engagement with Nigerian regulators and forms part of its broader expansion strategy across Africa.

According to Blockchain.com, admission into ARIP means it has satisfied the SEC’s initial requirements to participate in the programme. It is authorised to operate within the defined scope of the regulatory sandbox, subject to ongoing compliance obligations, testing parameters and regulatory conditions.

“Nigeria is one of Africa’s most important digital asset markets,” Owen Odia, Blockchain.com’s general manager for Africa, said in the announcement.

The company said the programme will allow it to work directly with the SEC in a controlled environment while contributing to the development of a regulatory framework for digital assets in Nigeria.

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Blockchain.com enters a growing regulatory cohort

Blockchain.com’s admission comes as Nigeria’s SEC accelerates efforts to bring digital-asset businesses into a formal regulatory framework.

In July, the regulator admitted seven firms into ARIP, including Bitbarter Technologies, Luno Fintech Nigeria, GetEquity, Koinkoin Global Network, Wrapped CBDC, Trovotech and Blockvault Custodian. It subsequently admitted GIGX Technologies and KuCoin Nigeria, bringing the number of firms in the programme to nine.

The SEC describes ARIP as a controlled regulatory environment designed to fast-track the onboarding of qualified virtual asset service providers (VASPs) and other digital investment service providers while allowing the regulator to assess their operations, risks and compliance arrangements. 

However, admission into the programme should not be interpreted as a full operating licence.

The SEC has previously clarified that an Approval-in-Principle confirms that an entity meets the requirements for admission into ARIP but remains contingent on its continued compliance with regulatory, operational and supervisory requirements. 

Nigeria becomes a strategic market for Blockchain.com

Blockchain.com said its participation in the ARIP by the SEC of Nigeria is part of a wider strategy of engaging regulators and building within established regulatory frameworks.

The company pointed to regulatory approvals and registrations it has obtained in other jurisdictions, including the UK Financial Conduct Authority, the European Union’s Markets in Crypto-Assets (MiCA) framework and a Virtual Asset Service Provider licence from the Cayman Islands Monetary Authority.

Blockchain.com said its Nigerian participation will allow it to apply its experience in compliance, security and consumer protection while working with local regulators and stakeholders.

Founded in 2011, Blockchain.com says it has more than 95 million wallets, more than 44 million confirmed accounts and has processed more than $1.2 trillion in transactions. The company operates across more than 70 jurisdictions.

The move also comes as Nigeria’s regulatory environment for digital assets continues to evolve. Alongside the SEC’s growing ARIP programme, the Central Bank of Nigeria recently introduced a virtual asset regulatory sandbox covering areas including stablecoins, wallets, custody and payment infrastructure.

For Blockchain.com, gaining entry into the SEC’s incubation programme provides a formal pathway to deepen its presence in one of Africa’s largest digital-asset markets. For Nigeria, the growing participation of established international firms signals an increasingly structured approach to regulating the country’s cryptocurrency industry.