Zap Africa Is on a Mission to Rebuild Trust in Nigeria’s Crypto Exchange Scene
Lagos, Nigeria – In the wake of a series of global and local exchange collapses that have rocked investor confidence, Zap Africa, a Nigerian-based cryptocurrency exchange, is stepping up with a bold mission: to restore trust in the crypto exchange ecosystem across Africa.
Founded by Tobi-Asu Johnson, Zap Africa is positioning itself not just as another trading platform, but as a reputation-first exchange, built on transparency, security, and accessibility.
Rebuilding from the Rubble of Global Scandals
The downfall of high-profile international exchanges such as FTX, Celsius, and others dealt a heavy blow to the global crypto community. But for many African users—especially in Nigeria—the impact was particularly devastating.
“The reputational damage caused by these collapses has had a ripple effect here at home,” says Johnson. “People now view exchanges with deep skepticism, and rightfully so. We have to earn their trust back from the ground up.”
That skepticism was only magnified by the collapse of CBEX, a local Nigerian crypto exchange, which left thousands of investors locked out of their funds with little recourse. The incident became a cautionary tale, amplifying regulatory scrutiny and public wariness toward crypto platforms operating in the country.
A New Approach: Less Custody, More Control
Zap Africa is taking a less-custodial approach to operations—minimizing how much user capital is stored under the exchange’s control. By reducing central points of failure, Zap aims to insulate users from the kind of custodial risk that triggered collapses like FTX and CBEX.
“Custodianship shouldn’t be a single point of failure. Our model gives users more control while still offering seamless access to crypto opportunities,” Johnson explains.
The platform allows users to swap crypto assets, as well as bridge bank-to-crypto transactions—offering a gateway for African users to interact with digital assets while maintaining a safer, streamlined experience.
Spotlight on High-Growth Assets, Responsibly
Zap also provides users with indirect exposure to what Johnson calls “1000X crypto opportunities”—early-stage projects and altcoins with massive upside potential. But unlike the “get rich quick” pitches often seen in the space, Zap claims to apply due diligence and encourages responsible investing in emerging assets.
This blend of opportunity access with risk-managed infrastructure reflects a more mature outlook from an African exchange—something Johnson believes is essential for long-term market credibility.
A Mission Bigger Than Trading
Zap’s mission goes beyond trading volume or token listings. At its core, the exchange is about rebuilding broken bridges between crypto users, platforms, and regulators.
“We want to become the exchange people trust, even when they don’t fully trust the space. That’s the benchmark.”
As Nigeria continues to navigate the challenges of regulatory uncertainty, currency instability, and rising crypto adoption, Zap Africa is betting that transparency and integrity will be its strongest assets.
