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

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

The Nigerian crypto payment gateway Fluidcoins was recently bought for an undisclosed sum by Blockfinex, in a deal which the former’s CEO Lanre Adenowo described as an “acquihire deal.” Blockfinex reportedly said it will leverage the acquisition to launch its own platform known as 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 a Techcabal report, Blockfinex’s acquisition of a 100% stake in the Nigerian firm came some 18 months after Fluidcoins’ last capital raise of $150,000.

Commenting on the acquisition that was facilitated by Dan Holdings Limited, Blockfinex founder and CEO Danny Oyekan reportedly said: This acquisition was driven by a decision to venture into wallet as a service business and crypto payment processing and scale it across the world.

Blockfinex reportedly said it will leverage the acquisition to launch its own platform known as Blockpay. Besides being a payment processor and application programming interface (API) wallet-as-a-service provider, Blockpay will facilitate payments for Fluidcoins’ existing clients such as Accrue, The Peer, and Getequity, the report added.

Meanwhile, Fluidcoins CEO Lanre Adenowo is quoted describing his firm’s reported acquisition by Blockfinex as an “acquihire deal” that will not result in management or staff changes. The deal nonetheless allows Fluidcoins to keep operating.

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

Register your email here to get a weekly update on African news sent to your inbox:

Tags in this story Blockfinex, crypto payment gateway, Danny Oyekan, Fluidcoins, Lanre Adenowo

What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Moody"s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks AFRICA | 1 day ago Report: FTX Promised High Earnings to African Students That Successfully Recruited Fellow Learners AFRICA | 2 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBrazilian Government Preparing New Decree to Clarify Cryptocurrency Rules Next articleBitcoin, Ethereum Technical Analysis: ETH Back Above $1,700, as Markets Rebound on Saturday Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike