Over-the-counter (OTC) cryptocurrency trading has quietly become the backbone of Africa’s digital finance ecosystem, according to a new sectorial report released by Quidax, one of Africa’s leading digital asset exchanges.
The report, titled ‘Africa’s Quiet Crypto Revolution’ reveals that large-scale OTC trades, once limited to institutional investors, are now driving most crypto-related settlements across African markets.
These trades, often conducted privately between businesses, are fueling the next wave of cross-border liquidity and digital payments, the report noted.
“Our OTC desk isn’t just facilitating crypto trades; it’s powering real-world business settlements across Africa,” the report states. “For companies moving millions across borders, OTC trading is faster, cheaper, and more predictable than traditional finance.”
Unlike traditional exchanges where prices fluctuate with each trade, OTC trading allows large volumes to move quietly and securely.
This has made it the preferred channel for fintechs, importers, exporters, and global partners seeking stable, instant transactions into African markets.
According to the Quidax report, global OTC crypto volumes surged 106 percent in 2024, with stablecoins accounting for the majority of transactions.
In Africa, this growth is being accelerated by businesses using stablecoins like USDT and USDC to hedge against currency volatility and bypass slow banking systems.
Read also: 85% of Crypto investors in Nigeria earn below N250,000 monthly — Report
One testimonial from a European e-commerce company, NevaCommerce, highlighted how Quidax’s OTC desk enabled faster settlement to Nigerian partners using stablecoins instead of USD wire transfers, cutting transaction times from days to minutes.
Quidax stated that it’s building Africa’s most reliable bridge between global crypto liquidity and local business payments.
The company also offers API integrations that allow fintechs and enterprises to embed OTC functions directly into their platforms which enables automatic settlement in stablecoins or local currency.
Quidax’s findings reveal a structural shift as businesses, not individuals, are driving Africa’s next crypto wave.
The report calls OTC trading ‘Africa’s invisible financial infrastructure’ which underpins global commerce, gig economy payments, and fintech operations.
As African countries explore digital currency frameworks and fintech regulation matures, it projects exponential growth in stablecoin-settled payments over the next two years, especially in import, export and digital services.
