Nigerian crypto payment gateway Fluidcoins was recently purchased for an undisclosed sum by Blockfinex, in a deal the former’s CEO Lanre Adenowo described as an “acquisition deal.” Blockfinex reportedly said that it will take advantage of the acquisition to launch its own platform known as Blockpay.
Scaling Blockfinex’s Crypto Payment Processing Business
Nigerian crypto payment gateway Fluidcoins was recently acquired for an undisclosed sum by Seychelles-registered crypto exchange company Blockfinex. According to a Techcabal reportBlockfinex’s acquisition of a 100% stake in the Nigerian firm came some 18 months after Fluidcoins’ latest capital raise of $150,000.
Commenting on the acquisition facilitated by Dan Holdings Limited, Blockfinex founder and CEO Danny Oyekan reportedly said:
This acquisition was driven by a decision to venture into the wallet-as-a-service and crypto payment processing business and scale it globally.
Blockfinex reportedly said that it will take advantage of the acquisition to launch its own platform known as Blockpay. In addition to being a wallet-as-a-service application programming interface (API) provider and payment processor, Blockpay will facilitate payments for existing Fluidcoins customers such as Accrue, The Peer and Getequity, the report added.
Meanwhile, Fluidcoins CEO Lanre Adenowo is quoted as describing the reported acquisition of his company by Blockfinex as an “acquisition deal” that will not result in changes to management or staff. However, the agreement allows Fluidcoins to continue operating.
According to the report, the acquisition deal includes all Nigerian crypto payment gateway entities, including Flip and Fluidshops.
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