Amidst a broader industry shift towards enterprise solutions, Quidax, a Nigerian startup specializing in digital asset trading and liquidity provision, has significantly expanded its business-to-business (B2B) operations. The company now supports 21 corridors across Africa, including Nigeria, Ghana, and Kenya, facilitating stablecoin-based settlement infrastructure.
This move aligns with recent trends seen among African crypto companies like Luno, which cut 20% of its workforce to focus on institutional products, and Busha, which partnered with Tether to distribute USDT to businesses. With Bitcoin trading volume down from peak levels, prioritizing more predictable revenue streams through enterprise sales has become a strategic imperative.
Quidax currently serves over 5,000 businesses across various sectors—payments, remittances, gaming, and banking—and generates revenue by charging fees for currency conversions into stablecoins and vice versa. The company’s stablecoin API enables businesses in Nigeria to transfer funds to partners in Ghana within minutes, compared to the traditional system which can take up to 48 hours.
“We are expanding the infrastructure to make it easier for businesses to move value across different countries without relying on correspondent banks,” explained Morris Ebeiroma, Quidax’s co-founder and CIO. “Our compliance-first stablecoin infrastructure aims to remove financial barriers that currently hinder intra-African trade.”
To support this expansion, Quidax has added off-ramp (withdrawal) support for multiple African currencies, including the Nigerian Naira, Ghanaian Cedi, and Kenyan Shilling, as well as major international currencies. The company works with partners like Chainalysis and Tether to provide comprehensive compliance and settlement infrastructure for enterprise clients.
Quidax’s solutions cater to diverse business needs—from fintechs seeking wallet and payment infrastructure to importers/exporters managing cross-border payments.