Quidax layoffs — Mar 26, 2026

Quidax Cuts Jobs Amid Restructuring Focus on B2B Products (March 26, 2026)

Nigerian cryptocurrency exchange Quidax has announced job cuts across multiple teams as part of a strategic shift towards business-to-business (B2B) products. The layoffs were confirmed during a company-wide meeting on March 2, 2026, although the exact number of jobs affected has not been disclosed.

The company stated that the layoffs were performance-related, with affected employees receiving their February salaries along with one month of severance pay. Reports indicate that the decision was tied to a performance tracking system used internally, although specific metrics for the terminations were not clearly communicated to employees. One former staff member described the process as confusing, stating, “There were no clear metrics [for the termination]. It was something about numbers from [an internal] performance tracking app; [Quidax said it was] letting go of the lowest performers.”

Founded in 2017, Quidax operates a platform that allows users and developers to buy, sell, and list digital tokens. The company has recently shifted its focus, having previously shut down its peer-to-peer (P2P) trading feature and partnered with Lisk, a Swiss blockchain company, to enhance its infrastructure for on-chain financial products. Despite the layoffs, Quidax continues to hire for sales roles related to its B2B initiatives, indicating a commitment to expanding its enterprise crypto payment solutions.

Quidax did not respond to requests for comment regarding the layoffs or the specific teams impacted. The restructuring reflects a broader trend within the cryptocurrency industry as companies adapt to changing market conditions and seek to optimize their operations.

Sources: TechCabal