The Nigerian crypto exchange is targeting faster, cheaper cross-border payments for businesses operating across Africa and international markets.

Quidax, Nigeria’s first Securities and Exchange Commission (SEC)-licensed digital assets exchange, has expanded its stablecoin payment infrastructure to support transactions across more than 21 countries and 14 currencies.

The expansion is aimed at helping startups, fintech companies and global enterprises move money across borders more efficiently, addressing persistent challenges around high costs, lengthy processing times and limited access to traditional international payment infrastructure.

Faster Cross-Border Payments

Quidax said its stablecoin-powered infrastructure enables businesses to settle transactions in under 48 hours without relying on traditional correspondent banking networks.

The company estimates that Africa loses approximately $5 billion annually to cross-border payment fees and inefficiencies. Conventional transfers between African markets can take several days to complete and may cost businesses a significant percentage of the transaction value.

By using stablecoins for settlement, Quidax said its infrastructure can reduce transaction costs while improving the speed and efficiency of cross-border payments.

Expanding Across Africa

The payment infrastructure now supports transactions across key African markets, including Nigeria, Ghana, Kenya, Tanzania, Rwanda, South Africa, Ethiopia, Cameroon and Côte d’Ivoire.

The network also connects African businesses to international markets including Canada, China, the United Arab Emirates, the United Kingdom, the United States and several European countries.

Quidax supports digital assets including USDT, XAUT and USAT, alongside 14 local and international currencies such as the Nigerian naira, Ghanaian cedi, West African CFA franc, Central African CFA franc and US dollar.

Targeting a Borderless Financial System

Quidax CEO and Co-Founder Buchi Okoro said the company's goal is to reduce the cost and complexity of moving money across African borders.

“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,” Okoro said.

He added that Quidax's compliance-focused stablecoin infrastructure is designed to reduce these barriers and make cross-border payments more accessible.

Infrastructure for Businesses

Quidax said its payment infrastructure currently supports more than 5,000 startups and enterprise businesses across sectors including payments, remittances, banking, gaming and financial technology.

The company also works with Tether, the world's largest stablecoin issuer, and blockchain intelligence firm Chainalysis to support its payment and compliance infrastructure.

As it expands its regulatory footprint across strategic markets, Quidax said it plans to continue developing compliant digital asset infrastructure that enables businesses to move money more efficiently across multiple jurisdictions.