Quidax positions as partner for banks, businesses entering digital assets

The Co-Founder and Chief Executive Officer of Quidax, Buchi Okoro, has said he is working to build a digital asset framework that regulators, businesses, and customers can trust.

Quidax is an African-founded digital assets exchange and the first to receive a provisional licence from the Securities and Exchange Commission (SEC).

Okoro said banks, asset managers, fintechs and businesses in other sectors are now considering how to offer stablecoins and digital assets to their own customers, and that Quidax intended to be the partner that helps them make that move.

He spoke at the Exchange, an invitation-only evening on stablecoins and digital assets hosted by Quidax in partnership with Tether, issuer of USDT, at the Lagos Continental Hotel. The event brought together regulators, industry leaders, fintech executives and legal and audit professionals.

“Over the next five years, our focus is on supporting the ecosystem around us. More and more institutions – banks, asset managers, fintechs and businesses across every sector – are considering how to bring stablecoins and digital assets to their own customers. We want to be the trusted partner that helps them on that journey: educating the market, holding ourselves to the highest professional and compliance standards, and building the infrastructure that lets them serve their customers today and well into the future,” Okoro said.

Okoro added that Quidax is proud to hold a provisional licence from the SEC, which signals its quest to build a trusted digital asset framework for its stakeholders.

“Trust is the new currency. In the physical world, people can walk into a branch, shake a hand and look someone in the eye. In the digital world, they cannot, so trust has to be earned in other ways: through regulation, transparency, and doing the right thing every single day. Digital trust is essential. If your customers, your partners and your regulators cannot trust your business, nothing else you build will matter.”

Head of the SEC’s Lagos Zonal Office, John Briggs, who represented the Commission’s Director General, Dr Emomotimi Agama, said, “According to Chainalysis, Sub-Saharan Africa received over $205 billion in on-chain value between July 2024 and June 2025, up roughly 32 per cent year-on-year. Nigeria alone received over $92.1 billion in that period, leading the region by a wide margin. And last month, in its 2026 Global Crypto Adoption Index, Chainalysis ranked Nigeria third overall and first for both peer-to-peer activity and cross-border flows.

“These are not abstract statistics. They are Nigerians – traders, families, young entrepreneurs – using digital assets, and stablecoins in particular, to move value across borders and manage currency risk. The question before us is not whether digital assets will shape the future of finance in Nigeria. They already do. The question is whether that future will be built on trust. The Commission is determined that it will.”