ScaleX

ScaleX is a financial technology company that provides a crypto-fiat gateway for the African market, enabling users to buy, sell, and swap digital assets. The company was founded in 2020 by Nnaemeka Nwosu, Ngati Jalani, James Ademuyiwa, Adeniyi Adedamola, and Joel Ajide. The founding team possesses a diverse background, with Nwosu having seven years of banking experience and an MBA from Lagos Business School, where he met co-founder Jalani, a sales and business development strategist. Another founder, James Ademuyiwa, majored in Fintech and Business Analytics and previously co-founded two other startups.

Originally created to offer more secure peer-to-peer (P2P) transactions on Telegram, ScaleX evolved into a full web-based P2P exchange in response to the growing demand for reliable crypto platforms in Africa. The platform addresses the risks associated with less secure P2P channels that emerged following bans on crypto exchanges in several African countries. Its automated infrastructure eliminates the need for manual transaction confirmations, a common bottleneck in other P2P systems. ScaleX serves both individual users and B2B clients, including wallet infrastructure providers, exchanges, and NFT marketplaces, by offering fiat payment rails and crypto liquidity. Its product suite includes APIs, SDKs, and a checkout service, facilitating seamless crypto-to-fiat conversions directly to local bank accounts. The company generates revenue through transaction fees, which are positioned as a lower-cost alternative to traditional financial systems.

ScaleX has engaged in multiple seed funding rounds, securing undisclosed amounts from investors such as GreenHouse Capital, Orbit Startups, Hacked Capital, and EMURGO. The firm was also selected for the fourth cohort of Circle's USDC Developer Grant Program, receiving a grant and additional support to further develop its applications using Circle's tools. The company is headquartered in Dubai, United Arab Emirates, and focuses on expanding its services across Sub-Saharan and East Africa.

Keywords: crypto-fiat gateway, peer-to-peer exchange, digital assets, stablecoin payments, blockchain infrastructure, African fintech, cryptocurrency adoption, on-ramp solutions, off-ramp solutions, secure crypto transactions, API, SDK, B2B crypto, retail crypto, payment rails, crypto liquidity, Nnaemeka Nwosu, Ngati Jalani, James Ademuyiwa, GreenHouse Capital, Circle grantee, Web3 adoption, cross-border payments