Quidax Launches Stablecoin Infrastructure in 21 Countries

Quidax, the first digital assets exchange to receive a provisional licence from Nigeria’s Securities and Exchange Commission (SEC), has announced the expansion of its stablecoin infrastructure to more than 21 countries and 14 currencies. This development enables startups, fintechs, and global enterprises to move value seamlessly across Africa and key international markets. By leveraging a compliant infrastructure, the exchange aims to streamline international trade and financial interactions, reducing the friction typically associated with moving capital across borders.

Lowering the cost of cross-border transactions

Africa loses an estimated $5 billion annually to cross-border payment fees and inefficiencies. When a business in Accra, Ghana pays a partner in Durban, South Africa through traditional channels, that payment is routed through a correspondent bank in Europe. The journey can take up to 7 days and costs up to 13% of the transaction value, more than twice the global average of 6%. This excessive delay and expense create significant barriers for businesses, stifling economic growth and reducing the competitiveness of cross-border trade within the region.

Quidax addresses this directly. Its compliant infrastructure settles cross-border payments in under 48 hours with no correspondent bank involved, at a cost below the global average and in line with the G20 and UN Sustainable Development Goal target of 5%. This technological approach eliminates the intermediaries that historically drained value from transactions, offering a direct route for funds. The company counts Tether, the world’s largest stablecoin issuer, and Chainalysis, the global standard in blockchain compliance, among its partners, ensuring that both transaction volume and regulatory adherence are maintained.

Powering more than 5,000 startups and enterprises across payments, remittance, gaming, and banking, the exchange supports key African markets including Nigeria, Ghana, Kenya, Tanzania, Rwanda, South Africa, Ethiopia, Cameroon, and Côte d’Ivoire. It extends beyond the continent to Canada, China, the United Arab Emirates, the United Kingdom, the USA, and several European countries. This wide reach allows for a diverse ecosystem of users to access the platform, facilitating everything from small remittances to large-scale corporate transfers.

Removing financial barriers

“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.” Okoro’s statement shows the mission to democratize access to financial tools, ensuring that economic opportunity is not limited by the geography of one’s location.

Nigeria’s first SEC-licensed digital assets exchange, Quidax is one of a select few exchanges operating under direct securities regulation in Africa and is actively expanding its licensing footprint across strategic markets. This regulatory distinction provides a layer of trust and security that is often missing in the broader cryptocurrency space. By adhering to strict securities laws, the platform offers a stable environment for users to engage in digital asset trading and cross-border payments without fear of regulatory ambiguity.

The rails support USDT, XAUT, USAT, and other leading stablecoins, as well as 14 local and international currencies including Naira, Cedi, Central African and West African CFA francs and US Dollar. This broad selection of supported assets allows users to lock in value and hedge against volatility while still accessing the liquidity needed for daily transactions. The inclusion of both major global currencies and specific regional fiat options ensures that the platform remains relevant to a wide variety of economic needs.