The naira-dollar gap closed

Buying USDT on Quidax now costs approximately 1–2.5% of the official CBN rate, down from years when crypto was materially above official-rate parity, mirroring parallel market premiums of 20–50%. 📉

Quidax was a pioneer on cNGN

cNGN is the naira stablecoin Nigeria's SEC actually recognises — issued by the African Stablecoin Consortium (ASC) under SEC ARIP oversight. Busha listed it first on February 3, 2025 (per TechCabal); Quidax followed on March 12, 2025 (per Quidax corporate blog). Quidax's cNGN/NGN order book remains the deepest among Nigerian exchanges. 🏆

People want stable, not speculative

Roughly 86% of the naira flowing into crypto on exchanges goes into stablecoins (analyst estimate calibrated against Chainalysis and TRM Labs data — not a directly measured figure). Nigerians are using them as their new dollar account. 💵

Quidax has a head start, but it's a race

Naira-deep, API-first, SEC-licensed (ARIP cohort), first-month cNGN listing. Busha now checks most of those boxes too. Quidax's edge is order book depth and existing B2B customers. That lead is real but not permanent. 🛡️

The opportunity, in one number

Selling Quidax's rails to other businesses could add roughly $4 to $14 million a year, across four buyer segments. Modeled, assumptions shown below. 💰