African Cryptocurrency Exchange, Quidax announces Global Expansion
Quidax, an African based cryptocurrency exchange, on Monday, 10th May announced the launch of their native token, QDX and revealed plans to reposition as the global home of BEP20 tokens. The platform officially shared plans to expand beyond Africa to the global market.
Quidax, a cryptocurrency exchange that was launched in August 2018, has grown into one of the top exchanges in Africa with over 400,000 customers in 72 countries and have processed over 3.2 billion dollars worth of transactions. It had initially positioned itself as an African focused cryptocurrency exchange but has stated interest in expanding beyond Africa, with a change in strategy following some events in February.
The QDX token will be a BEP20 token that will power all the functions within the Quidax ecosystem from trading fees on the exchange, to staking, governance, and all financial products. The platform disclosed that users will be able to access everything from loans to savings on Quidax using the token and DeFi-er will also be able to stake QDX tokens and get rewards. They also went further to state that holding QDX will also allow you to vote on some of the exciting decisions that will be made on the platform, which means users can become key decision makers.
Quidax native token, QDX will be the first project to launch on Julswap’s launchpad, JulPad. The choice to launch on JulSwap is strategic due to what JulSwap has achieved in a short period.
Speaking on their new direction,The CEO at Quidax, Buchi Okoro said
“we are set to become the global home of BEP20 tokens. This means that anyone in the world can trade over 100 cryptocurrencies in the Binance Smart Chain ecosystem on Quidax. We’ve also started partnering with exciting projects to give you as many crypto options and services as possible. To start, we’ve partnered with AFEN, Africa’s first government-backed NFT platform. We will list $Afen and anyone can buy, sell, and trade it.”
Buchi further added that they will be launching 7 products over the next 6 months with a blend of CeFi and DeFi that will add more value and wealth to their customers.