Blockchain.com, a leading global cryptocurrency enterprise with operations spanning over 100 countries, has introduced a new tokenisation service enabling Nigerian users to purchase digital assets linked to the value of more than 100 publicly traded US companies’ shares, complete with access to real-time market liquidity.
Created in collaboration with Ondo Finance, a US-based digital asset tokenisation firm, this offering empowers Nigerians to trade tokenised US equities and exchange-traded funds (ETFs) directly through their Blockchain.com wallets.
This move places Blockchain.com among a rising number of crypto and wealth technology platforms targeting Africa’s retail investor base. For instance, UK’s Luno has already rolled out tokenised US stocks in both South Africa and Nigeria, while South African platform VALR launched a similar stock tokenisation service in July. These firms compete alongside others like Bamboo, Trove, Hisa, and Rise, all banking on affordable access to US equities and continuous liquidity to attract retail investors.
“Our goal has consistently been to broaden access to the global financial ecosystem,” Blockchain.com stated. “This launch unlocks fresh opportunities for Nigerian investors to diversify their holdings by gaining exposure to some of the world’s most sought-after assets. To celebrate, we’re kicking off with an exclusive bonus rewards campaign.”
To commemorate the launch, Blockchain.com is rewarding Nigerian users who purchase tokenised US stocks via their DeFi Wallet. Participants can earn up to 25 ONDO tokens by completing five qualifying transactions of tokenised assets, each with a minimum value of $10. Additionally, there is a long-term incentive where users who buy and retain the least-traded tokens may win a portion of a 10,000 ONDO token prize pool.
Despite the enthusiasm surrounding tokenisation, these products currently exist in a regulatory limbo within Nigeria. The Nigerian Securities and Exchange Commission (SEC) has yet to issue definitive guidelines on tokenisation. Since these offerings are aimed at retail investors, regulatory authorities may soon enforce compliance measures requiring issuers like Blockchain.com to adhere to investor protection protocols. Oversight of offshore entities such as Ondo Finance, which operates beyond Nigerian jurisdiction, is likely to become a regulatory priority.
With Nigerians primarily engaging with digital assets for investment purposes, Blockchain.com is tailoring its products to meet the needs of users seeking returns from digital asset holdings. Michael Emeeka, Blockchain.com’s Nigeria country manager, shared during the Moonshot by TechCabal panel titled “What does the next wave of crypto infrastructure look like?” that the company plans to introduce a yield-generating digital asset product, offering users up to 7.5% returns on dollar-pegged stablecoins held.
Blockchain.com’s growth strategy in Nigeria forms part of a wider initiative to cement its presence in Africa’s burgeoning crypto market. Operating globally since 2013, the company has established a physical office in Nigeria and is actively recruiting talent in Ghana. By doing so, Blockchain.com aims to challenge both local and international crypto firms entrenched on the continent, positioning itself as a pivotal player in Africa’s digital asset landscape.
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