Nigeria-based crypto exchange, Quidax has emerged with a Polygon blockchain integration, marking the first cross-border partnership in Africa in relation to Polygon. The Polygon integration will enable Quidax users to access a wide variety of projects built on the former’s ecosystem.
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The Nigerian-based crypto firm has also pledged to list the blockchain’s native token, MATIC, allowing its users to trade it alongside other cryptocurrencies existent on the platform. MATIC’s listing is very likely to expand Quidax’ user base as new users scramble to buy and sell the crypto-asset with either stablecoin USDT or Quidax’s QDX tokens.
Coming on the heels of the Quidax-Polygon partnership is a new feature Quidax is adding to its platform. The feature, known as ‘token self-listing,’ will make for the ease of listing African-based projects or the tokens of blockchain projects within 24 hours. In light of this, Quidax is aiming to drive, attract and encourage the emergence of transforming innovations to and within Africa.
With the integration, crypto enthusiasts in Africa can enjoy DeFi-related activities such as lending, borrowing, staking, gaming and the trading of non-fungible tokens which have become a rave of the moment lately. Some of these activities have roots in centralized finance (CeFi), but have become a major attraction in DeFi, pulling a traffic of activities and high transaction volumes
Quidax CEO, Buchi Okoro expressed delight at the integration noting that it was a milestone for Quidax since it burst into the Nigerian space in 2019. It aligns with our goal of bringing DeFi and CeFi to Africa, Quidax CEO added.
Polygon’s co-founder, Sandeep Nailwal stated that the strategic partnership with Quidax is a giant stride in its efforts to bring blockchain infrastructure to developing parts of the world.
Beyond this, Polygon integration further indicates that Africa is measuring up on cryptocurrency adoption. We are likely to witness more partnerships of this nature in the coming months.
