Blockchain.com, a provider of cryptocurrency exchange and wallet services, is making strides to expand into several African nations where regulation surrounding cryptocurrencies is beginning to take shape.

The company is concentrating its efforts in Ghana, Kenya, and South Africa, while also planning to open a physical office in Nigeria within this quarter, recognizing it as the fastest-growing market in West Africa. Bloomberg reported on this expansion.

Nigeria recently enacted a new investment and securities law, which includes measures for licensing and overseeing cryptocurrency exchanges.

“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” stated Owenize Odia, Blockchain.com’s GM for Africa. “Applying for a crypto-exchange license in Nigeria is a top priority.”

Other African nations are also paving the way for clearer regulations. The Bank of Ghana issued draft guidelines last year, while Kenya is currently in the research stage to better understand cryptocurrency.

This expansion comes after Blockchain.com’s recent advancements towards a potential initial public offering (IPO), coinciding with Circle Internet, the company behind the USDC stablecoin, also filing for an IPO on the New York Stock Exchange as more crypto companies aim to go public.

Read more: Stablecoin Giant Circle Files for IPO on NYSE.