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Quidax
Buchi Okoro founded Quidax in 2018 to build a naira-native crypto exchange—one of the first to hold a provisional Nigerian SEC license.
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
AUM
Undisclosed
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.
Is Quidax structured as a family office or does it operate more like a venture-backed tech company?
Quidax is a venture-backed centralized cryptocurrency exchange and infrastructure company, not a family office. Its capitalization includes external venture investors, and its governance reflects a for-profit, growth-stage technology firm targeting retail and institutional crypto traders across African markets.
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.
Which sectors does Quidax explicitly avoid?
Quidax focuses narrowly on spot crypto trading and exchange infrastructure. There is no evidence it engages in lending, derivatives, real-estate investment, or traditional private-equity deployment. Its public documentation does not articulate specific sector exclusions beyond the natural boundaries of a centralized spot exchange.
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.
Does Quidax maintain philanthropic structures or corporate-venture arms?
Quidax has not publicly articulated a standalone philanthropic foundation or a dedicated corporate-venture arm. Its observable activity is concentrated on exchange operations, API infrastructure, and compliance under the new Nigerian SEC framework.
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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