Seychelles-Based Crypto Exchange Acquires Nigerian Crypto Payment Gateway Fluidcoins

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Blockfinex recently purchased the Nigerian crypto payment gateway Fluidcoins for an undisclosed amount. The deal was described by Lanre Adenowo, the former CEO, as an “acquihire” deal. Blockfinex claimed that it will use the acquisition to launch its own platform, Blockpay. Scaling Blockfinex’s Crypto Payment Processing Business The Nigerian crypto payment gateway, Fluidcoins, was recently acquired for an undisclosed sum by the Seychelles-registered crypto exchange company Blockfinex. According to Techcabal, Blockfinex acquired a 100% stake of the Nigerian company after Fluidcoins last capital raise of $150,000. Blockfinex founder Danny Oyekan, CEO of Blockfinex, said that the acquisition was facilitated through Dan Holdings Limited. He stated: This acquisition was driven a decision to venture in wallet as a business and crypto payment processing. It will scale it across the globe. Blockfinex said that it would use the acquisition to launch its own platform, Blockpay. The report said that Blockpay will be a payment processor as well as an application programming interface (API), wallet-as-a service provider. It will also facilitate payments for Fluidcoins existing clients like Accrue, The Peer and Getequity. According to Fluidcoins CEO LanreAdenowo, the acquisition by Blockfinex is an “acquihire” deal that will not lead to staff or management changes. However, Fluidcoins can continue to operate thanks to the deal. According to the report, the acquisition deal covers all entities of the Nigerian crypto payment gateway, including Flip and Fluidshops. Register your email to receive a weekly update about African news delivered to your inbox.
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