Quidax
Quidax is a Nigerian-licensed cryptocurrency exchange offering an API-first platform for retail traders and B2B clients across Africa. Its suite spans trading, stablecoin APIs, OTC desk, Basqet payment gateway, and USDT staking, and it was the first exchange to receive a provisional license from Nigeria's SEC.
- Company typePrivate
- Founded2017
- HeadquartersSan Gwann, Malta
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Quidax does
Quidax is an African-founded cryptocurrency exchange headquartered in Lagos, Nigeria, with a secondary presence in San Gwann, Malta. Founded in 2017, the company operates a multi-product platform spanning retail trading (Instant Swap, Order Book, Earn staking), B2B infrastructure (Custom API, Stablecoin API, Ramp), institutional services (OTC Desk, Institution and VIP), payment processing (Basqet payment gateway), and token services (LaunchPad, QDX Token, Self-Service Listing). In August 2024, Quidax became the first crypto exchange to receive a provisional Digital Assets Exchange license from Nigeria's Securities and Exchange Commission, a regulatory distinction it shares with only one other domestic exchange. The platform is built on an API-first architecture with documentation at docs.quidax.io, enabling fintechs, neobanks, digital wallets, and other exchanges to integrate stablecoin and digital asset functionality.
Quidax generates revenue across multiple streams: trading commissions on spot transactions, instant swaps, and order book activity; OTC desk fees on large block trades; subscription and usage fees from Custom API, Stablecoin API, and Ramp integrations with B2B clients; spread and listing economics tied to the QDX token ecosystem; and yield spread on USDT staking products offering up to 10% APR. The company serves two primary customer segments: Nigerian and African retail users accessing self-serve trading via pro.quidax.io, and B2B clients including fintechs (Basqet, Blano, Gigxpad), payment platforms, DeFi operators, and high-volume traders requiring reliable stablecoin rails and large-order settlement. Distribution is multi-channel, combining a self-serve retail platform, OEM/embedded API distribution, direct enterprise sales for OTC and institutional services, and a payment-gateway reseller channel via Basqet.
As of early 2026, Quidax executed a sharp strategic pivot: it shut down its peer-to-peer trading feature in January 2026 and conducted workforce reductions across sales, design, and operations in March 2026, explicitly repositioning toward B2B infrastructure and enterprise crypto payments. The same period saw a strategic partnership with Lisk blockchain (February 2026), marking Lisk's first African SEC-licensed exchange partnership and adding LSK, USDC, and Ether support on Lisk rails. Total disclosed funding to date is approximately $3.6 million across a 2021 QDX token sale ($3M), a 2018 Genesis Node Capital round ($500K), and a 2020 Techstars round ($120K), placing Quidax in a thinly capitalized competitive position versus offshore incumbents.
Quidax firmographics
Firmographics- Name
- Quidax
- Legal name
- Quidax
- Website
- https://quidax.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Quidax is a Nigerian-licensed cryptocurrency exchange offering an API-first platform for retail traders and B2B clients across Africa. Its suite spans trading, stablecoin APIs, OTC desk, Basqet payment gateway, and USDT staking, and it was the first exchange to receive a provisional license from Nigeria's SEC.
- Ownership category
- akta.pro rank
Quidax industry classification
Industry- Product category
- Cryptocurrency Exchange
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)
- akta.pro secondary industries
- On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE), Crypto Payment Gateways & Checkout APIs (FSADAIAA), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)
Keywords
Where Quidax is headquartered
LocationHeadquarters
- HQ city
- San Gwann
- HQ country
- Malta
- HQ region
- Europe
Offices1 record
Markets served
Quidax business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Trading Fees: Commission earned from spot trading, order book transactions, and instant swaps on the platform
- OTC Trading: Fees from over-the-counter large order execution for institutional and high-volume traders
- API/Enterprise Services: Revenue from Custom API, Stablecoin API, and B2B infrastructure services provided to fintechs, exchanges, and businesses
- QDX Token: Token listing fees, staking rewards ecosystem, and potential token value appreciation
- Staking Products: Interest earned on USDT staking products (up to 10% APR), generating yield for users while capturing spread
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | USD Tether (USDT) staking with up to 10% APR |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Quidax product offering
Product offeringCore offering
Quidax operates a licensed cryptocurrency and stablecoin exchange platform that enables individuals, businesses, and financial institutions to buy, sell, and move digital assets in and out of Africa. The platform combines a retail trading interface (Instant Swap, Order Book, Earn staking) with an API-first B2B infrastructure stack (Custom API, Stablecoin API, Ramp, OTC Desk, Basqet payment gateway), targeting both African consumers and fintechs/neobanks that need embedded crypto rails.
Product overview
Quidax is a licensed cryptocurrency and stablecoin exchange platform providing a comprehensive suite of solutions for individuals, businesses, and financial institutions to buy, sell, and move digital assets in and out of Africa. The platform operates a multi-module architecture consisting of core trading products (Instant Swap, Order Book), B2B infrastructure (Custom API, Stablecoin API, Ramp, OTC Desk), payment solutions (Basqet payment gateway), token services (QDX Token, LaunchPad, Self Service Listing), and educational resources (Quidax Academy, Blog). The platform enables stablecoin and crypto infrastructure for cross-border transactions, enterprise payments, and fintech integrations across African markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Instant Swap Allows users to trade stablecoins and cryptocurrencies quickly with fast, reliable execution. Designed for both individuals and businesses buying or swapping digital assets in under two minutes.
- Order Book Real-time order book trading engine providing access to diverse markets with deep liquidity, allowing users to set their own prices and trade transparently.
- Custom API Robust API infrastructure for businesses and developers to build or integrate stablecoin and digital asset functionality into their own products quickly.
- Stablecoin API API infrastructure connecting dollar-pegged stablecoin rails with local currencies, designed for exchanges, fintech products, digital wallets, and neobanks to launch or enhance stablecoin functionality.
- OTC Desk Premium over-the-counter trading service for executing large orders securely, designed for companies and high-volume traders needing to move significant amounts of crypto.
- Ramp Fiat on-ramp and off-ramp solution enabling customers to move from crypto to fiat and vice versa in seconds.
- Basqet Payment Gateway Industry-leading payment gateway allowing merchants to accept digital asset and crypto payments seamlessly, distributed via basqet.com.
- LaunchPad Token listing service enabling new and existing tokens to be listed on the Quidax platform with full support and guidance.
- QDX Token Native cryptocurrency token bringing flexibility and rewards to digital asset trading on the Quidax platform.
- Institution and VIP Service for executing large trades efficiently and securely with customized trading, liquidity, and settlement solutions for institutional and VIP clients.
- Earn (USDT Staking) Staking product offering up to 10% APR on USDT with flexible and fixed staking plans starting from 5 USDT.
Quantifiable outcome
- 80% cost reduction in cross-border trade settlement using stablecoins
- +3 more outcomes
Companies that use Quidax
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Quidax technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Quidax partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- LiskcoreQuidax partnered with Lisk blockchain, marking Lisk's first partnership with an African exchange licensed by Nigeria's SEC. The partnership enables Quidax customers to trade and transfer value using USDT, USDC, LSK, and Ether on the Lisk network. Additionally, developers building on Lisk gain access to Quidax's digital asset infrastructure and stablecoin services. Lisk, which recently transitioned to an Ethereum Layer 2, views this collaboration as a cornerstone of its African expansion strategy targeting high-growth markets.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Quidax competitors and assessment
Company assessmentDirect peers
- Busha: Nigerian cryptocurrency exchange and direct local competitor; alongside Quidax, Busha was one of only two exchanges to receive Approval-in-Principle from Nigeria's SEC, targeting the same retail and B2B African market with overlapping spot, OTC, and stablecoin products.
- Yellow Card Financial: Pan-African cryptocurrency exchange and on/off-ramp provider operating across multiple African countries; comparable to Quidax in offering fiat-to-crypto rails, OTC services, and B2B APIs aimed at fintechs, with overlapping geographic focus on Nigeria and stablecoin-centric products.
- Luno: Major African-focused cryptocurrency exchange (now part of the Coins.ph/Yaga Group ecosystem after the Digital Currency Group divestment); directly comparable as a retail and institutional crypto exchange serving Nigeria and South Africa with similar spot trading, education, and stablecoin offerings.
Broad incumbents
- Binance: World's largest cryptocurrency exchange by volume and a dominant force in the Nigerian market (along with Bybit, controls the bulk of local crypto flow); competes with Quidax across spot, P2P, OTC, and API products but at vastly greater scale, liquidity, and global reach.
- Bybit: Global crypto exchange with significant share of Nigerian trading volumes alongside Binance; offers spot, derivatives, and on/off-ramp products that overlap with Quidax's exchange and stablecoin rails, but operates without the Nigeria-specific SEC license.
- Coinbase: US-headquartered publicly listed crypto exchange with global retail and institutional offerings; a broad incumbent competitor whose exchange, custody, staking, and API products overlap with Quidax's full stack, though it has limited presence in Nigeria specifically.
- Kraken: Established global cryptocurrency exchange offering spot, staking, OTC, and APIs; comparable to Quidax's institutional/VIP and API-first motion at the high end, but serving primarily European and US institutional clients rather than African retail.
Emerging players
- Bitnob: African-focused Bitcoin and stablecoin fintech offering savings, payments, and remittance products across Nigeria, Kenya, and Ghana; comparable to Quidax's B2B Ramp and Basqet payment gateway use cases, particularly for cross-border African remittances and USDT-to-fiat conversion.
- Flutterwave: Leading African payments infrastructure company serving merchants and fintechs across the continent; comparable to Quidax at the B2B/payments layer because both sell payment and treasury infrastructure into the same African fintech and merchant base, though Flutterwave is fiat-first.
Regional players
- Paystack: Nigerian-founded payment gateway (owned by Stripe) providing developer-first payment APIs across African markets; comparable to Quidax's Basqet payment gateway in serving the same merchant/fintech customer base, though Paystack operates in fiat rails rather than stablecoin/crypto.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Quidax social profiles
Digital presenceQuidax compliance and trust
Trust signalCompliance1 record
Quidax financial estimates
Financial estimateRevenue estimate
Valuation estimate
Quidax leadership team
Management profileNumber of profiles
Profiles3 records
Quidax funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Quidax M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Quidax
What does Quidax do?
Quidax operates a licensed cryptocurrency and stablecoin exchange platform that enables individuals, businesses, and financial institutions to buy, sell, and move digital assets in and out of Africa. The platform combines a retail trading interface (Instant Swap, Order Book, Earn staking) with an API-first B2B infrastructure stack (Custom API, Stablecoin API, Ramp, OTC Desk, Basqet payment gateway), targeting both African consumers and fintechs/neobanks that need embedded crypto rails.
Is Quidax a public or private company?
Quidax is a private company. It is classified as venture growth investor backed and is currently operating.
When was Quidax founded?
Quidax was founded in 2017. It employs 101 to 250 people.
Where is Quidax based?
Quidax is headquartered in San Gwann, Malta, in the Europe region.
How does Quidax make money?
Five revenue lines are on record. Trading Fees are the primary driver. The others are OTC Trading, API/Enterprise Services, QDX Token and staking Products.
Who are Quidax's main competitors?
Direct peers on record are Busha, Yellow Card Financial and Luno. Broad incumbents are Binance, Bybit, Coinbase and Kraken. Emerging players are Bitnob and Flutterwave. Paystack is listed as a regional player.
Does Quidax have an API?
Yes. Quidax offers Custom API and Stablecoin API products enabling businesses to build or integrate stablecoins and digital assets into their products. The Custom API allows building crypto-powered features, while the Stablecoin API is designed for launching exchanges, fintech products, digital wallets, or neobanks to connect dollar-pegged rails with local currencies. Documentation available at docs.quidax.io. Developer documentation is at docs.quidax.io.
What industry is Quidax in?
Quidax's product category is Cryptocurrency Exchange. Its primary akta.pro industry code is FSADAAAA, Spot Crypto Exchanges (Order-Book & Matching Engine), with a secondary code of FSADAIAE, On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks. Its NAICS code is 5231 and its SIC code is 6200.