Startup Profile: PEXBANK — buy, sell Bitcoin and other digital currencies in Nigeria

by | Apr 18, 2017

Private Exchange Bank (PEXBANK) is simply an online bank that facilitates digital currency business transactions in Nigeria. The platform was launched in December 2016 by Godwin U. Godswill as a spin-off GIGATHON TECHNOLOGIES.

PEXBANK integrates a Direct Exchange Management System (DXMS) to organise and manage direct personal exchanges. It’s private social network also facilitates exchange between private sellers and buyers home and abroad.

PEXBANK pegs its unique edge on its integrated escrow service — a system that allows your money to only be delivered when your satisfaction is confirmed. Else, you would be duly refunded.

We want to own the space of this original idea where connecting people for exchange anywhere, anytime is a problem solved against trending internet scams especially social media.”


PEXBANK is not limited to Bitcoin exchange — gift cards and other live currencies are also transacted. The brain behind this platform intends for it to be the powerhouse for all currency exchange needs and growth.


On the website, you can buy and sell at any rate using the PEXme requests, from anywhere and to anyone globally. Thus, sellers can tap into the flood of numerous buyers. Users can also withdraw to local accounts.


Controversies over transactions involving Bitcoin and the like, (especially in Nigeria) have been spinning for long. While some find it indeed lucrative, others have had an enormous measure of loss — falling prey to online scams.

Yet digital currency traders aren’t backing out. Nigerians involved are not relenting. Therefore, seeing a local platform rise to contribute to this (controversial) space — considering that validity of digital currencies still has so many uncertainties — by providing a seemingly secured platform is a bold leap.

Suggested ReadBitcoin for beginners

Presently, Pexbank operates in Nigeria, Ghana, and intends to extend to more countries soon enough.

Ready to trade your digital currencies, get started by signing up on the website immediately.


Discover new startups every weekday by 9am (WAT) | Pitch your startup here.

Grace Akinosun
Grace Akinosun

Girl … with a pen. Content Creator.

Are you in tech and you are looking at getting a foreign remote job or you want to move abroad? Fill this form and you will get the BEST resources to help you get that high paying remote job as well as japa easily! WAGMI!

Notify of
1 Comment
Newest Most Voted
Inline Feedbacks
View all comments
10 months ago

Pexbank has scammed a lot of people, most especially freelancers.

The CEO has a mindset of helping freelancer rather than doing business.

Not only did I regret using the platform in the past, I also get complaints from some friends I introduced Pexbank to.

You’ll just do a legit transaction and expect to have your fund but rather it gets locked.

When you contact admin, they’ll frustrate you calling.

Later, you’ll hear that you’ve done something wrong in the past and the money removed from your account is your penalty.

These penalties are never in their TOS, they need to change from this fraudulent activities, it’s not good for the fintech ecosystem in Nigeria.

Recent News

$2 million to drive learning via WhatsApp 

$2 million to drive learning via WhatsApp 

On #TechpointDigest, we discuss how major players in the African mobility space can change the mobility narrative, FoondaMate’s $2 million funding, Twitter Create, and AMP’s $5.6 million seed round.

[PODCAST] Taxing calls to give you healthcare

[PODCAST] Taxing calls to give you healthcare

The Nigerian government wants to tax phone calls to provide better healthcare. In today’s edition of the #TechpointAfricaPodcast, we discuss possible implications and upsides to this.

TABS is tomorrow! 💃 💃

TABS is tomorrow! 💃 💃

On #TechpointDigest, we discuss Victory Farms’ $5m investment, Netflix for kids and people with disabilities, and TikTok’s plan to credit creators.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Blockchain Explorer

Analysis oninnovation, regulations, and trends inthe blockchain sector, as it concerns Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap