Quidax, the first cryptocurrency exchange to receive a license from Nigeria's Securities and Exchange Commission, has expanded its stablecoin infrastructure to more than 21 countries.
The move marks a significant scaling of the platform's reach beyond its home market, targeting broader adoption of digital assets across Africa and emerging markets.
The expansion underscores a growing trend of regulated crypto platforms leveraging stablecoins to facilitate cross-border transactions and remittances in regions where traditional banking infrastructure remains fragmented.
By extending its infrastructure to over two dozen nations, Quidax is positioning itself as a key enabler of digital finance in markets with high demand for efficient, low-cost payment solutions.
This development comes amid increasing institutional interest in the potential of local currency stablecoins to transform African financial systems.
A recent joint report by Standard Chartered and Zodia Markets advocated for the wider adoption of digital assets pegged to currencies such as the South African rand and Ghanaian cedi, arguing that such instruments could enhance liquidity and reduce transaction costs across the continent.