UAE’s Blockfinex acquires Nigerian crypto Fluidcoins
Fluidcoins, a Nigerian crypto payment startup has been 100% acquired by Blockfinex, also a crypto trading platform. The Nigerian startup was acquired for an undisclosed amount of money.
This was confirmed by Danny Oyekan, the founder and CEO of Blockfinex to Tech Cabal.
“This acquisition was driven by a decision to venture into Wallet as a service business and crypto payment processing and scale it across the world,” Oyekan said.
The acquisition of Fuidcoins includes all of its entities which include Flip and Fluidshops. Flip is a crypto wallet launched five months ago which allows users to earn interest on their stablecoins, buy airtime, top-up virtual calls, and send peer-to-peer social payments within the app.
Fluidshop, on the other hand, is a free online store created for entrepreneurs, freelancers, businesses and digital product owners. It helps them showcase their products and services, make sales and accept payments in cryptocurrency, especially stablecoins.
In a statement, Blockfinex stated that it will leverage this acquisition to launch a new product, BlockPay, which will be available in the UAE, US and Africa. It will also continue to facilitate payments for existing Fluidcoins clients like Accrue, The Peer, GetEquity and others.
By reason of this acquisition, Blockfinex will now use Fluidcoins Wallet-as-a-service product to reach over 600+ cryptocurrencies and also expand Fluidcoins checkout businesses to serve more businesses.
Fluidcoin was founded in 2021 by Lanre Adenowo and according to the description on their official site, the crypto platform said it was building a crypto economy for African businesses by providing them with the tools to participate in the DeFi economy, accept online and offline stable-coin payments, international payments.”
According to the report by Tech Cabal, Fluidcoins found it difficult to raise follow-on funding to scale its offering. It had only raised about $150,000, to have kept it afloat for the last 18 months, Adenowo said.
Oyekan however assured that this is an acquihire deal and the team will stay intact. “There will be no management or staff changes.”
Gov. Sule of Nasarawa State wins second term bid
The Independent National Electoral Commission (INEC), have declared
The incumbent Governor of Nasarawa State, Engr Abdullahi Sule of the All Progressives Congress (APC) has been declared by the Independent National Electoral Commission (INEC) winner of last Saturday’ governorship election in the state.
Governor Sule, who was declared winner on Monday morning, defeated the People’s Democratic Party (PDP) candidate, David Umbugadu, by a margin of 64,193 to emerge winner.
While declaring the result, the INEC Collation Officer, Prof. Tanko Ishaya, said Sule scored 347,209 votes to defeat his closest rival David Umbugadu of People’s Democratic party (PDP), who polled a total of 283,016 votes.
Candidate of New Nigeria Peoples Party (NNPP) Abdullahi Maidoya came third with 11,726 votes, while that of Social Democratic Party, (SDP) Mohammed Alfa Nyas got 9003 votes.
According to INEC, Sule won seven out of the 13 Local Government Areas in the state.
The state Collation Officer, said the total number of registered voters were 1,899,244, while the number of accredited voters were 668,978
Abia APGA rejects Governorship Poll results as Labour Party leads
The results of the March 18 governorship poll in Abia state has been rejected by the All Progressives Grand Alliance. The Independent National Electoral Commission has so far announced results in 10 LGAs. In a statement signed on Monday by the APGA Chairman Abia State, Rev. Augustine Ehiemere, the party said it would not accept an election “marred by irregularities.” It, however, urged supporters to remain calm as they await the conclusion of the process. The statement read partly, “The results so far announced did not in any way reflect the will of the good people of Abia voters as demonstrated at the various polling units.“We are highly disappointed that the votes cast for our candidate, Professor Greg Ibe, were suppressed and not credited to him.“Regrettably too, there were brazen irregularities, including snatching of ballot papers, over-voting, unprecedented manipulation and violence against the opposition.“Most of the results were collated without recourse to BVAS machines, hence, they cannot be relied upon.“We appeal to our members to remain calm and watch things unfold. We firmly believe that light will triumph over darkness, and Abia emancipated from the chains of undemocratic forces.“The election was marred with irregularities in all parts of the state, and APGA cannot accept a highly flawed election.” Only ten local government results have so far been collated, and they include; Ukwa East, Umunneochi, Ukwa West, Bende, Isialangwa North, Isialangwa South, Arochukwu, Ugwunnagbo, Isuikwuato and Ikwuano. So far, the results announced puts the Labour Party in the lead with a margin of 13,132.
BREAKING: INEC Declares PDP’s Mutfwang winner of Plateau Gov Election
The Plateau State governorship candidate of the Peoples Democratic Party, Caleb Mutfwang, has been declared as the winner of Saturday’s governorship election by the Independent National Electoral Commission.The result declared by the INEC Presiding Officer, Musa Yusuf, after counting the votes scored by parties that participated in the election shows that Mutfwang had the highest votes beating the All Progressives Candidate, Nentawe Yilwatda.Recall that the PDP governorship candidate was reported to be taking an early lead as of 11 am when INEC resumed collations of results from the 17 local government areas of the state.Details later…
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