Coinbase Just Made Crypto Easier in Nigeria with Onboard Global Deal

Coinbase has partnered with Onboard Global to bring secure and fast cryptocurrency trading to Nigeria.

This means users can buy digital assets with Naira through a peer-to-peer (P2P) exchange, making it more accessible and cheaper.

One of the biggest news from this is simplified ID verification. Users trading less than $100 worth of crypto can do so without ID verification, making it even easier for new users to get into the crypto space.

Coinbase had previously been hesitant to enter Nigeria due to regulatory risks. Things got even more complicated in early 2024 when Nigerian govt cracked down on major global exchanges including Binance, blaming them for the naira depreciation.

But with new leadership at Nigeria’s Securities and Exchange Commission (SEC), the country is moving towards regulation instead of outright ban. Two local exchanges have already gotten operating licenses, more are expected in 2025.

How Coinbase Avoided Regulatory Traps

To navigate Nigeria’s evolving regulatory landscape, Coinbase is passing on risk to Onboard Global. Under this partnership, Onboard Global will handle user verification and provide a P2P trading platform, ensuring compliance with local regulations while keeping Coinbase at arm’s length from direct jurisdictional oversight.

A key part of this is the integration of Base, Coinbase’s Ethereum-based layer-2 blockchain. This reduces fees and gives access to over 540 more tokens. Nigeria is the test case, Coinbase will refine this model before expanding to other high-potential emerging markets.

Big move for crypto in Africa! @Coinbase teams up with @OnboardGlobal to bring P2P crypto payments to Nigerians. 🇳🇬💰 Will this accelerate financial inclusion? 🔥 #CryptoAdoption #Nigeria #Coinbase #OnboardGlobal pic.twitter.com/duuR8Bjhs8

— The BayPay Forum (@baypayforum) February 26, 2025

Expanded Payment Options for Nigerian Users

Beyond regulatory strategy, this partnership gives Nigerian users more cryptocurrency buying options. Onboard Global is using Onramper’s network to connect users with multiple liquidity providers:

• Yellow Card

• Coinify

• Neocrypto

• Alchemy Pay

• Localramp

Users can fund their accounts through bank transfers or buy from P2P merchants, more ways to get into the crypto space.

Coinbase’s statement says Nigeria is the first of many countries to benefit from this new payment infrastructure. Onboard Global is already planning to expand to over 50 more markets in 2025, including Argentina, India, Indonesia, Kenya, Philippines and Turkey.

Big one for Coinbase as they pivot to the growing crypto demand in emerging markets while passing regulatory risk to local partners.

As Nigeria’s crypto regulations shape up, Coinbase and Onboard Global will scoop up the growing user base looking for secure and cheap trading options.