Quidax, a Nigerian startup that lets users buy and sell digital assets and provides liquidity to other startups, has expanded its business-to-business (B2B) operations across 21 corridors, including Nigeria, Ghana, and Kenya, deepening its push into stablecoin-based settlement infrastructure.
The shift toward enterprise-focused products is becoming more visible across the industry. On July 28, Luno, the UK-headquartered crypto company with a regional base in South Africa and operations in Nigeria, Kenya, and Uganda, said it would cut 20% of its global workforce as it increased its focus on institutional products and services amid weaker retail trading activity.
Bitcoin’s 24-hour trading volume on centralised exchanges currently stands at $30.43 billion, down from its $110 billion peak in November 2025, according to CoinMarketCap. Bitcoin’s market capitalisation has also fallen by about $455 billion since the start of 2026.
Prioritising other revenue streams, such as institutional infrastructure sales that typically generate more predictable revenue inflow, is a way to protect against dwindling volume on retail crypto trading.
Quidax is joining a growing group of African cryptocurrency companies, including Busha, Yellow Card, and Bitnob, that are expanding into stablecoin infrastructure services. On July 20, Busha Business, the B2B arm of Nigerian crypto startup Busha, partnered with Tether, the El Salvador-based stablecoin issuer, to distribute USDT to African businesses.
