Crypto purchases in local currency now accessible through Coinbase Wallet's built-in P2P integration.
In the ever-evolving world of cryptocurrency, a potential game-changer is on the horizon for African users, with American cryptocurrency giant Coinbase Wallet partnering with Onboard to expand access to crypto assets on the continent.
However, it's essential to clarify that, as of mid-2025, no public record or announcements exist regarding this partnership specifically facilitating cryptocurrency purchases for Nigerian users without Know Your Customer (KYC) requirements.
The partnership aims to simplify the fiat-to-crypto onramp for Africans, addressing the challenge of limited and complex options. In Nigeria, forex and central bank restrictions made card purchases for crypto nearly impossible, forcing users to rely on P2P exchanges. To support this expansion, Onboard is inviting individuals in these countries to sign up as agents to facilitate transactions.
Coinbase Wallet, in collaboration with Yellow Card, has already integrated payment infrastructure to allow its African users to buy bitcoin and USDC via the wallet. Users can deposit their local currencies to make purchases and receive the cryptocurrency equivalent within as little as five minutes. Through the partnership with Onboard, Coinbase Wallet will now facilitate crypto purchases, with Onboard handling verification and providing a secure P2P exchange platform.
Despite reports in February 2024 indicating that Nigerian authorities attempted to block access to major cryptocurrency exchanges, Coinbase reported that its platform remained accessible to Nigerian users during that period. This resilience underscores Coinbase's commitment to providing a reliable service in challenging environments.
It's worth noting that Coinbase's latest expansions focus on integrating with traditional banks and payment methods in the U.S., not on removing KYC processes abroad. Facilitating crypto purchases without KYC would be uncommon for regulated platforms like Coinbase Wallet, which typically adhere to global compliance standards.
Nigeria's crypto infrastructure growth is driven by local fintech players such as Moniepoint, playing a major role in digital payments and financial inclusion. However, there is no direct connection to Coinbase–Onboard cooperation.
In conclusion, while the partnership between Coinbase Wallet and Onboard holds significant potential for expanding crypto access in Africa, it's crucial to emphasise that, as of now, there is no public evidence of this partnership facilitating cryptocurrency purchases for Nigerian users without KYC requirements. Users can select desired crypto assets to purchase on Coinbase Wallet and get matched to Onboard agents in their region, but the KYC process remains a requirement for transactions above $100.
- The partnership between Coinbase Wallet and Onboard is poised to revolutionize cryptocurrency access in Africa, aiming to simplify the fiat-to-crypto onramp for users.
- Despite challenging forex and central bank restrictions in Nigeria, users have relied on P2P exchanges for crypto purchases, but this partnership with Onboard could change that.
- Coinbase Wallet, in conjunction with Yellow Card, has already enabled bitcoin and USDC purchases for African users, and with Onboard, users will now have a secure P2P exchange platform for crypto purchases.
- Despite efforts by Nigerian authorities to block access to major cryptocurrency exchanges, Coinbase's platform remained accessible during that period, demonstrating its commitment to operating in challenging environments.
- While the Coinbase–Onboard partnership holds promise for Africa, it's crucial to note that, as of now, there is no public evidence of this partnership facilitating cryptocurrency purchases for Nigerian users without Know Your Customer (KYC) requirements, and transactions above $100 still require KYC.
