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Nigerian Crypto Exchange Recorded Over $3.2 billion in Transactions, Plan for Global Expansion




 Quidax a Nigerian cryptocurrency exchange announced plans to expand its services globally after a successful operation in the Africa continent, also announced the launch of its native token, QDX.

Quidax is a cryptocurrency exchange that was launched in August 2018. it has initially positioned itself as an African-focused cryptocurrency exchange but has stated a change in strategy by going global.

Since the launching of Quidax, it has grown over 400,000 customers base across 72 countries today, disclosed by Quidax CEO Buchi Okoro on Monday.

Quidax is also planning to launch its native token. QDX, which will be a BEP20 token that will power all the functions within the Quidax ecosystem from trading fees on the exchange, to staking, governance, and all financial products.

This means that anyone in the world can trade over 100 cryptocurrencies in Binance Smart Chain ecosystem on Quidax.

Buchi Okoro also added that they will be launching 7 products over the next 6 months with a blend of CeFi and Defi that will add more value and wealth to their customers.

Cryptocurrency adoption keeps increasing in Africa with the help growing utility of Bitcoin and Altcoin. Nigerians are embracing cryptos to combat inflation in the country. according to Cointelegraph, Nigerians traded 60,500 Bitcoin on Paxful, a peer-to-peer trading platform.

With the recent cryptocurrency regulation in Nigeria after the Central Bank of Nigeria (CBN) banned financial services companies from operating in crypto exchange, this didn't stop the citizen from dealing in crypto rather it promotes p2p within Nigerians.

However, Deputy Governor of CBN Edward Lamekek Adamu later clarified that the regulator didn't ban Nigerian citizens from trading or holding cryptocurrencies only for the Banks are not allowed to do so for security measures.



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