Nigeria's First SEC-Licensed Exchange, Quidax, Expands Stablecoin Infrastructure to Over 21 Countries
Quidax, Nigeria’s first digital assets exchange licensed by the Securities and Exchange Commission (SEC), has expanded its stablecoin infrastructure across more than 21 countries. This move enables businesses and fintechs in Africa and beyond to transfer value efficiently with reduced costs and faster settlement times. The platform addresses inefficiencies in traditional cross-border payments, which cost African economies an estimated $5 billion annually due to high fees and delays. Quidax settles transactions within 48 hours without using correspondent banks, at a rate below the global average of 6%, aligning with G20 and UN Sustainable Development Goal targets. Quidax supports multiple currencies including Naira, Cedi, US Dollar, and stablecoins like USDT and XAUT. The company partners with Tether and Chainalysis to provide compliant solutions for over 5,000 startups and enterprises across sectors such as payments, remittance, gaming, and banking.
Topics: Africa compliance digital assets fintech payments infrastructure