Nigerian crypto payment gateway Fluidcoins was recently acquired by Blockfinex for an undisclosed sum in a deal described by former CEO Lanre Adenowo as an “acquisition deal” Blockfinex is reportedly leveraging 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 by Seychelles-registered crypto exchange company Blockfinex for an undisclosed sum, Techcabal reports. Blockfinex’s acquisition of a 100% stake in the Nigerian company came about 18 months after Fluidcoin’s previous $150,000 capital raise.
Commenting on the acquisition, which was facilitated by Dan Holdings Limited, Danny Oyekan, founder and CEO of Blockfinex, reportedly said.
The acquisition was driven by the decision to expand into wallet and crypto payment processing as a service business and to expand it globally.
Blockfinex will reportedly leverage the acquisition to launch its own platform known as Blockpay. In addition to being a payment processor and application programming interface (API) wallet-as-a-service provider, Blockpay will facilitate payments for existing Fluidcoin clients Accrue, The Peer, and GetEquity, the report adds It states.
Meanwhile, Fluidcoin CEO Lanre Adenowo is quoted as describing the company’s reported acquisition by Blockfinex as an “acquisition transaction” that did not lead to any changes in management or staff. Nonetheless, the deal allows Fluidcoins to continue operating.
According to the report, the acquisition transaction involves all entities in the Nigerian crypto payment gateway, including Flip and Fluidshop.
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