Nigeria’s First SEC-Licensed Exchange, Quidax, Expands Stablecoin Infrastructure to Over 21 Countries

Quidax, the first digital assets exchange to receive a provisional license from Nigeria’s Securities and Exchange Commission (SEC), has announced a significant expansion of its stablecoin infrastructure. The service now operates in over 21 countries, supporting 14 currencies and enabling startups, fintechs, and global enterprises to move value seamlessly across Africa and international markets.

This move directly addresses the substantial financial drain Africa experiences from cross-border payment inefficiencies, estimated at $5 billion annually. Traditional payment channels often route transactions through correspondent banks in Europe, leading to delays of up to seven days and fees as high as 13% of the transaction value. Quidax's compliant infrastructure promises to settle these cross-border payments in under 48 hours, bypassing correspondent banks and operating at a cost below the global average, aligning with G20 and UN Sustainable Development Goal targets.

"Africa is home to the world’s fastest-growing economies, yet individuals and businesses pay an ‘African border levy’ every time they move money across the continent," said Buchi Okoro, CEO and Co-Founder of Quidax. "Our compliance-first stablecoin infrastructure was created to remove that levy and bring us closer to a world with zero financial borders."

As one of the few exchanges operating under direct securities regulation in Africa, Quidax is actively broadening its licensing. The infrastructure supports major African markets including Nigeria, Ghana, Kenya, and South Africa, as well as international destinations like Canada, the UK, and the USA. It accommodates stablecoins such as USDT and XAUT, alongside local and international currencies like the Naira, Cedi, and US Dollar. Quidax partners with prominent firms including Tether and Chainalysis, powering over 5,000 startups and enterprises.

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Africa is home to the world’s fastest-growing economies, yet individuals and businesses pay an ‘African border levy’ every time they move money across the continent. Our compliance-first stablecoin infrastructure was created to remove that levy and bring us closer to a world with zero financial borders.