Grace Ashiru
Blockfinex, a cryptocurrency exchange based in Barbados and Seychelles, has bought a 100% stake in the Nigerian cryptocurrency payment gateway startup Fluidcoins.
The deal is said to be Nigeria’s first acquisition of 2023 and the country’s first in the crypto ecosystem. The founding team of Fluidcoins, which includes Flip and Fluidshops, will continue to work on the product.
Flip, a cryptocurrency wallet that started five months ago, allows users to earn interest on their stablecoins, purchase airtime and virtual top-up calls, and transfer peer-to-peer social payments directly from the app.
Fluidshops is a free online store where entrepreneurs, freelancers, businesses, and people who own digital products can show off their goods and services, sell them, and accept cryptocurrency as payment.
Fluidcoins, like many companies in the market today, had trouble getting more money to grow its business. The company only got $150,000, enough to keep it going for 18 months.
