Quidax stops P2P services citing user preferences and licensing delays in Nigeria.
- Quidax halts P2P services due to licensing delays.
- Exchange opts for instant swaps, order-book trading.
- Regulatory reassessment impacts Nigeria’s crypto industry.
Quidax, a Nigerian crypto exchange, ceased its P2P service on January 23, 2026, under Nigeria’s SEC sandbox, due to user preference for faster trading alternatives.
The halting reflects regulatory challenges, impacting niche tokens and highlighting user inclination towards efficient trading, as licensing impediments continue amid intensified oversight.
Quidax, a Nigerian crypto exchange, ended its peer-to-peer (P2P) trading services on January 23, 2026, citing user preference for quicker transaction methods.
This decision is crucial due to delays in obtaining full regulatory licenses, affecting both traders and the broader Nigerian crypto market.
Quidax Ends P2P Amid Licensing Delays
Quidax has discontinued its P2P trading service amid licensing delays. The decision reflects user demand for faster transactions such as instant swaps. Quidax Support Team stated, “We have decided to discontinue our P2P trading service effective January 23, 2026, due to user preference for faster options like instant swaps and order-book trading.”
Nigeria’s SEC has paused full licensing, impacting startups like Quidax and Busha. Regulatory reassessment aims to strengthen oversight.
Nigerian Crypto Users Face Service Shifts
The halting of P2P services affects users relying on crypto exchanges in Nigeria. Quidax users are directed to efficient trading methods.
Tightening regulations may affect local market dynamics. Increased compliance requirements shape the crypto trading landscape in Nigeria.
Regulatory Reassessment Targets Local Exchanges
Unlike past incidents, which had focused on global impacts, recent regulatory reassessment targets local crypto exchanges.
Future outcomes could see increased formalization in the Nigerian crypto market, impacting venture growth and trust.
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