“Can OVEX become the dominant cross-border payments and FX liquidity infrastructure layer for African institutions by using stablecoins as the settlement rail?”
Founded in 2017 as a South African cryptocurrency exchange and OTC desk, OVEX initially focused on retail and institutional crypto trading, arbitrage, and interest accounts. Over time it repositioned as cross-border payments and wholesale FX infrastructure for Africa, leveraging stablecoin rails to replace SWIFT for emerging-market corridors. By 2024–2025 it was marketing itself primarily as 'emerging market liquidity at scale' serving 50+ institutional clients across 16+ active corridors, with crypto as the settlement layer rather than the primary product.
Ovex uses Sumsub for KYC and identity verification.
Ovex was founded by Jonathan Brian Ovadia and is founded in 2017, headquartered in Cape Town, South Africa.
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