Quidax, the Nigerian crypto startup known for enabling users to buy and sell digital assets while providing liquidity to other fintechs, has expanded its business-to-business (B2B) operations across 21 payment corridors, including Nigeria, Ghana, and Kenya. The move strengthens the company’s push into stablecoin-powered payment and settlement infrastructure.
The expansion comes as crypto companies increasingly shift their focus from retail trading to enterprise services, where revenues are generally more stable and predictable.
That trend became more apparent on July 28 when Luno, the UK-based cryptocurrency company with operations across South Africa, Nigeria, Kenya, and Uganda, announced it would lay off 20% of its global workforce. The company said it was redirecting resources toward institutional products and services as retail trading activity slowed.
The broader crypto market reflects the same slowdown. According to CoinMarketCap, Bitcoin’s 24-hour trading volume on centralised exchanges has fallen to about $30.4 billion from a peak of $110 billion in November 2025. Since the beginning of 2026, Bitcoin has also lost roughly $455 billion in market value.
For exchanges that have traditionally depended on retail trading fees, enterprise infrastructure is becoming an increasingly attractive business. Services such as stablecoin settlement, liquidity provision, and payment infrastructure generate recurring revenue that is less vulnerable to swings in trading activity.
Quidax is part of a growing wave of African crypto companies moving into this space. Others, including Busha, Yellow Card, and Bitnob, are also building stablecoin infrastructure for businesses.
Earlier this month, Busha Business the enterprise arm of Nigerian crypto startup Busha partnered with Tether to distribute USDT to businesses across Africa. Busha says it now serves more than 1,500 businesses, ranging from startups and SMEs to large enterprises. Quidax says its own enterprise platform supports more than 5,000 businesses across sectors including payments, remittances, banking, and gaming.
The shift also reflects a broader evolution in Africa’s fintech ecosystem. Instead of building stablecoin infrastructure from scratch, more businesses are opting for plug-and-play services that handle wallets, liquidity, compliance, and settlement. Companies like Quidax are positioning themselves as the infrastructure layer powering those services.
The startup says payments processed through its stablecoin platform currently settle in under 48 hours.
“We are expanding the infrastructure to make it easier for businesses to move value across different countries within Africa and beyond without having to go through a correspondent bank,” said Morris Ebeiroma, Quidax’s co-founder and chief information officer.
“With our stablecoin API in West Africa, a company in Nigeria can move value to a partner in Ghana within minutes, compared with the current system, which can take up to 48 hours.”
Quidax generates revenue by charging businesses to convert local currencies into stablecoins and back into fiat currencies. The company said pricing is tailored to each client based on expected transaction volumes but declined to disclose the volume of transactions processed through its platform.
To support its enterprise offering, Quidax works with partners including blockchain analytics firm Chainalysis and stablecoin issuer Tether to provide compliance and settlement infrastructure.
Through its partnership with Tether, businesses can access dollar-backed stablecoins such as USDT, as well as XAUt, Tether’s gold-backed digital asset, for cross-border payments, treasury management, and digital asset transactions.
The company has also expanded its payout network by adding off-ramp support for several African currencies, including the Nigerian naira, Ghanaian cedi, Kenyan shilling, Ugandan shilling, Tanzanian shilling, Rwandan franc, and South African rand. International currencies such as the US dollar, euro, British pound, Canadian dollar, and Chinese yuan are also supported.
Quidax says its enterprise customers include fintechs and neobanks using its wallet infrastructure, remittance companies seeking lower-cost settlements, importers and exporters paying overseas suppliers, gaming and travel businesses managing payouts, and institutional clients handling treasury operations and high-volume trading.
“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, Quidax’s co-founder and chief executive officer.
“Our compliance-first stablecoin infrastructure was built to remove that friction and move us closer to a future with zero financial borders.”