Quidax has significantly scaled its stablecoin payment infrastructure, extending its reach to over 21 countries and 14 currencies as the digital asset exchange intensifies its push to streamline cross-border transactions for businesses operating across Africa and global markets.
The company said its platform is designed for startups, fintechs, and enterprises, enabling international settlements in less than 48 hours without relying on traditional correspondent banking networks.
Targeting Costly Payment Inefficiencies
According to Quidax, businesses across Africa routinely face exorbitant fees and protracted delays when transferring money across borders. Traditional payment corridors can take up to seven days and consume as much as 13 percent of the transaction value—a significant drag on commerce.
Quidax said its stablecoin infrastructure drives settlement costs below the global average, aligning with the G20 and United Nations Sustainable Development Goal target of 5 percent for cross-border payment costs.
Expansive Market Footprint
The platform now supports key African markets including Nigeria, Ghana, Kenya, Tanzania, Rwanda, South Africa, Ethiopia, Cameroon, and Côte d’Ivoire, alongside Canada, China, the United Arab Emirates, the United Kingdom, the United States, and several European countries.
Quidax said the infrastructure accommodates USDT, XAUT, USAT, and other stablecoins, paired with 14 local and international currencies—among them the Nigerian naira, Ghanaian cedi, Central African CFA franc, West African CFA franc, and US dollar.
A Compliance-First Approach
Buchi Okoro, CEO and Co-Founder of Quidax, framed the expansion as a direct response to a persistent economic burden on African businesses. “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,” he said. “Our compliance-first stablecoin infrastructure was created to remove that levy and bring us closer to a world with zero financial borders.”
Regulatory Milestones and Ecosystem Growth
Quidax noted it was the first digital assets exchange to receive a provisional licence from Nigeria’s Securities and Exchange Commission and is actively expanding its regulatory presence across additional jurisdictions. The company added that its infrastructure now serves more than 5,000 startups and enterprises across payments, remittances, gaming, and banking—with Tether and Chainalysis among its strategic partners.
