Nigerian crypto payment gateway Fluidcoins was recently bought by Blockfinex for an undisclosed amount in a deal that the former CEO Lanre Adenovo called a “hire deal.” Blockfinex has reportedly said it will use 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 amount by Seychelles-based Blockfinex. According to Techcabal reportBlockfinex’s acquisition of a 100% stake in the Nigerian firm came about 18 months after Fluidcoins last raised $150,000 in capital.
Commenting on the acquisition, which was facilitated by Dan Holdings Limited, Blockfinex founder and CEO Danny Oyekan reportedly said:
This acquisition was prompted by the decision to go into the wallet as a service business and handle crypto payments and scale it globally.
Blockfinex has reportedly said it will use the acquisition to launch its own platform, known as Blockpay. In addition to being a payment processor and wallet as an application programming interface (API) service provider, Blockpay will facilitate payments for existing Fluidcoins customers such as Accrue, The Peer and Getequity, the report says.
Meanwhile, Fluidcoins CEO Lanre Adenovo reportedly describes the acquisition of his firm Blockfinex as a “hiring deal” that will not result in changes in management or staff. However, the deal allows Fluidcoins to keep going.
According to the report, the acquisition deal includes all divisions of the Nigerian crypto payment gateway, including Flip and Fluidshops.
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