African crypto exchange registers $3.2B in transactions ahead of global expan...
After a successful run in Nigeria, Quidax announces global expansion plans and the launch of its native token, QDX. After nearly three years in operation, Nigerian cryptocurrency exchange Quidax has reported more than $3.2 billion in transactions, underscoring the rapid adoption of digital assets in Africa’s largest economy.Since launching in August 2018, Quidax has amassed over 400,000 customers across 72 countries, the company disclosed Monday. The figures were published alongside an announcement that the exchange plans to further expand its crypto trading operations beyond Africa. In....
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The Central African Republic (CAR) has mentioned plans of setting up a crypto hub recently. This news comes after Central African Republic legally recognized Bitcoin last month. This move of launching a “crypto hub” is in a view to attract global enthusiasts. After a lot of compliments and supposed criticisms, the local government is all […]
PRESS RELEASE. Cryptocurrency exchange, Quidax on Monday, 10th May officially shared plans to expand beyond Africa to the global market. They also announced the launch of their native token, QDX and revealed plans to reposition as the global home of BEP20 tokens. Quidax is a cryptocurrency exchange that launched in August 2018. It had initially positioned itself as an African focused cryptocurrency exchange but has stated a change in strategy following some events in February. Quidax CEO, Buchi Okoro for the first time revealed that they have processed over 3.2 billion dollars worth of....
The South African crypto exchange plans to expand its operation across more African countries and even into India with the new cash injection from major crypto VCs. South African crypto exchange VALR has raised $50 million in a Series B equity funding round, marking the largest-ever funding for an African crypto exchange.With this latest round of funding, VALR’s valuation has increased to $240 million, a 10X in growth since it raised its $3.4 million in a Series A round in July 2020. This round was led by VC Pantera Capital, Alameda Research, Coinbase Ventures, and several others. VALR....
An African regulator has told members of the six-nation Economic and Monetary Community of Central Africa (CEMAC) that a ban on cryptocurrencies is still effective. The regulator said the prohibition is designed to ensure financial stability is maintained within the economic bloc. COBAC to Set Up System to Identify Crypto Transactions An African regulator, the Banking Commission of Central Africa (COBAC), has reminded members of a regional economic bloc that includes the Central African Republic (CAR) that its ban on cryptocurrencies remains in effect. The regulator’s latest....
The African financial system is turning its attention toward blockchain technology as it looks for ways to help reduce the cost of banking transactions, according to The Africa Report. In the summer of this year, one of South Africa’s largest banks, Absa Bank, the South African subsidiary of Barclays Africa joined forces with the R3 Consortium to explore and develop the technology for the financial industry. At the time, it joined over 45 global banking heavyweights. That number has since dropped after Goldman Sachs and Santander recently decided to let their memberships lapse with the....