…..The Expansion Unlocks a Compliant Engine for Businesses and Fintechs to Move Value Across Africa and Beyond
Quidax, the first digital assets exchange to receive a provisional licence from Nigeria’s Securities and Exchange Commission (SEC), today announced the expansion of its stablecoin infrastructure to more than 21 countries and 14 currencies, enabling startups, fintechs, and global enterprises to move value seamlessly across Africa and key international markets.
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, a journey that can take up to 7 days and costs up to 13% of the transaction value, more than twice the global average of 6%.
Quidax addresses this directly. Its compliant infrastructure settles cross-border payments in under 48 hours with no correspondent bank
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