A company in Ghana sending money to South Africa usually faces a long wait and high fees. Traditional banks route payments through Europe, often taking up to a week and costing as much as 13% of the amount sent. This is more than double the global average and a big drag on African businesses.
Quidax, Nigeria’s first digital asset exchange licensed by the SEC, is changing that. Their new stablecoin infrastructure lets startups and enterprises move money across 21 countries and 14 currencies in under 48 hours. No middlemen banks, lower costs, and faster settlements bring payments closer to the 5% cost target set by the G20 and UN.
CEO Buchi Okoro calls this an end to the "African border levy" the hidden fees that slow growth across the continent. Quidax’s system covers key African markets like Nigeria, Kenya, Tanzania, and South Africa, and also works in places like Canada, China, the UK, and the US. It supports major stablecoins such as USDT, XAUT, and USAT, as well as local currencies like the Naira, Ghanaian Cedi, and CFA francs.
The company is among a few on the continent operating fully under securities regulation, making compliance a cornerstone. This expansion aims to empower fintechs and businesses to transact more efficiently, cutting the payment delays and extra costs that have long burdened African cross-border trade.
