Blockfinex

Blockfinex is a digital-asset exchange founded in 2018 and registered in Dubai that initially relied on third-party cloud matching and custody, which spared it from building its own engine and cold-storage system and let it concentrate on fiat rails and local operations. Its first wedge was Nigeria, giving users naira deposits and withdrawals to cut the leakage of moving funds between venues, then replicating fiat rails across several African and Middle Eastern markets.

Trading covers spot, margin and over-the-counter flow plus a board for security-type and commodity-linked tokens, with clearing and settlement handled by the cloud stack's risk modules. In February 2023 it bought the Nigerian payment infrastructure company Fluidcoins outright, folding acquiring, wallet-as-a-service and an e-commerce plugin into its own line with team and customers carried over, so the business extends from trading into merchant payments and stablecoin settlement and the trading and payment accounts interoperate.