Obiex, a Nigerian crypto buying and selling platform, has introduced it’s now worthwhile after bootstrapping its operations and specializing in high-volume retail clients.
The corporate, which permits customers to commerce and speculate on digital property, has processed an annualised commerce quantity of $731.5 million and serves over 100,000 retail customers.
Ikechukwu Okeke, CEO of Obiex stated “the corporate has been worthwhile from day one and has constantly reinvested its earnings again into the enterprise.”
The startup’s whole swap quantity (executed trades, excluding deposits/withdrawals) has risen from $588 million in 2024 to $832 million to this point in 2025.
Obiex has processed roughly $8 billion in Gross Transaction Worth (GTV) which incorporates all platform actions in 2025, and over $19 billion since its pivot in 2021. Its retail customers account for 70 p.c of its quantity.
Past its core crypto swap characteristic (which accounts for 11 p.c of GTV), Obiex gives an over-the-counter (OTC) desk, utility and remittance funds, and an API service that provides wallets to round 12 different Nigerian crypto exchanges.
Obiex’s journey started with a crypto fee gateway in 2016 earlier than pivoting to an off-ramp service that converts crypto to Naira.
The Central Financial institution of Nigeria’s (CBN) crypto ban in February 2021 pressured a serious operational change. The startup reinvented itself in June 2021 as a retail buying and selling platform, specializing in fixing the issue of volatility and affirmation delays for native merchants.
By constructing a system that enables customers to lock in worth immediately, Obiex helped create larger buying and selling quantity by enabling higher danger administration.
After establishing a powerful presence in Nigeria and working a buying and selling app in Cameroon, the corporate is now setting its sights on broader African enlargement.
Ghana is the speedy precedence, following the nation’s latest publication of a regulatory framework for digital property. Different goal markets embody South Africa, Tanzania, Kenya, and Rwanda.
