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Quidax
Quidax offers a mobile application for buying and selling cryptocurrency with local currency. The platform provides various features, including cards, USD...
Quidax
Quidax offers a mobile application for buying and selling cryptocurrency with local currency. The platform provides various features, including cards, USD savings, QDX tokens, QDX vault, instant swap, order book, and self-service listing. Founded in 2016, Quidax is based in Toronto, Canada.
General information
Firm type
Asset Manager
Year founded
2018
Location
Region
Africa
Country
Nigeria
City
Lagos
Corporate office
Lagos, Nigeria
Principals
Buchi Okoro
Co-Founder & CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Quidax?
Operational and strategic direction is led by Co-Founder and CEO Buchi Okoro. Quidax is an exchange and infrastructure provider, not an internally managed fund—it does not run a proprietary investment book on behalf of the company or external LPs. Asset-listing and treasury decisions are made by the executive team in accordance with the firm's risk framework and regulatory obligations.
How does Quidax source revenue and what does its balance-sheet structure look like?
Revenue derives from trading fees on the spot exchange, spreads on the OTC desk, and fees from the white-label API product. Quidax does not publicly disclose detailed financials or balance-sheet composition. The firm raised $3.25 million in disclosed seed funding from Africa-focused and crypto-native venture investors, though total historical fundraising is not consolidated in a single public filing.
What investment stages does Quidax typically target?
Quidax does not invest in external companies as a core function. Its primary activity is operating a trading venue and providing crypto-as-a-service infrastructure. Any venture investments made by the firm or its principals are not detailed in its official communications.
How is Quidax regulated in Nigeria and other operating regions?
In August 2024, Quidax received a provisional operating license from the Nigerian SEC under the Accelerated Regulatory Incubation Program for digital-asset service providers (per the Nigerian SEC, August 2024). Its compliance posture in Kenya and Ghana operates under each market's prevailing digital-payments and fintech regulatory regimes, though no equivalent securities-regulator license has been publicly confirmed in those jurisdictions.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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