African Crypto Exchange Quidax Expands Stablecoin Corridors for Business Payments

Nigerian digital asset exchange Quidax is significantly expanding its business-to-business (B2B) operations, focusing on stablecoin-based settlement infrastructure across 21 corridors, including key African markets like Nigeria, Ghana, and Kenya. This strategic pivot comes as many crypto exchanges face reduced retail trading volumes and are seeking more stable revenue streams through institutional services.

Quidax's expansion into enterprise-focused products mirrors a broader trend among African cryptocurrency companies, with others like Busha, Yellow Card, and Bitnob also developing stablecoin infrastructure services. Quidax aims to provide modular services such as outsourced wallet, liquidity, and settlement capabilities to fintechs, neobanks, remittance providers, and other businesses seeking to integrate crypto payment infrastructure without building it from scratch.

The company's co-founder, Morris Ebeiroma, highlighted that the expanded infrastructure facilitates faster and more efficient cross-border value transfer within Africa, bypassing traditional correspondent banking systems that can be slow and costly. Quidax claims stablecoin payments on its platform settle in under 48 hours, a significant improvement over conventional methods.

Quidax generates revenue by charging businesses fees for converting local currencies to stablecoins and vice-versa. It has also partnered with blockchain analytics firm Chainalysis and stablecoin issuer Tether to ensure compliance and provide access to dollar-backed stablecoins (USDT, USA

) and gold-backed stablecoins (XAUt) for various business operations. The initiative includes adding off-ramp support for multiple African currencies, aiming to dismantle financial borders and reduce the "African border levy" on cross-continental money movement.