Nigerian Crypto Payment Gateway Fluidcoins Acquired By Seychelles-Based Crypto Exchange

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Nigerian crypto payment gateway Fluidcoins was recently purchased for an undisclosed amount by Blockfinex, in a deal former CEO Lanre Adenowo described as an “acquisition deal”. Blockfinex reportedly said it would leverage the acquisition to launch its own platform known as Blockpay.

Scaling Blockfinex’s Crypto Payments Processing Business

Nigerian crypto payment gateway, Fluidcoins, was recently acquired for an undisclosed amount by Seychelles-registered crypto exchange firm Blockfinex. According to a Techcabal report, Blockfinex’s acquisition of a 100% stake in the Nigerian company came approximately 18 months after Fluidcoins last raised $150,000.

Commenting on the acquisition facilitated by Dan Holdings Limited, Blockfinex Founder and CEO Danny Oyekan reportedly said:

This acquisition was prompted by the decision to venture into the wallet as a service business and crypto payment processing and expand it across the globe.

Blockfinex reportedly said it would leverage the acquisition to launch its own platform known as Blockpay. In addition to being a payment processor and wallet provider as an application programming interface (API), Blockpay will facilitate payments for existing Fluidcoins customers such as Accrue, The Peer and Getequity, adds The report.

Meanwhile, Fluidcoins CEO Lanre Adenowo is quoted describing Blockfinex’s acquisition of his businesses as an “acquisition deal” that will not result in any changes in management or personnel. The agreement nevertheless allows Fluidcoins to continue to operate.

According to the report, the acquisition deal includes all Nigerian crypto payment gateway entities, including Flip and Fluidshops.

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.

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