Obiex has taken $11.07bn in deposits, and almost all of it settles to one place

$11.07bn

Deposits measured

1,829,318 deposits into Obiex-issued addresses, eight chains

$11.12bn

Into Obiex's addresses at one exchange

34,542 transfers — almost all observable settlement

$9.33bn

Above the retail band

429,638 deposits averaging $21,720

$4.71bn

First nine months of 2026

half again as much as the whole of 2025

Obiex is not a name most people in Nigerian fintech can place. It has taken more stablecoin deposits than every other venue we track, several times over.

Since September 2021 we have measured 1,829,318 deposits into Obiex-issued addresses across eight chains, totalling $11.07bn. Obiex issued 20,611 deposit addresses over the period, and 20,451 of them received money.

Where it goes

Across those same eight chains, 34,542 transfers carrying $11.12bn moved into deposit addresses that Obiex holds at Binance. Not some of the settlement — almost all of the settlement we can observe. Tron alone carries $7.25bn of it.

Deposits and settlement are separate measurements over the same rails, so the two figures are not netted and the near-match between them is an observation, not an identity.

The shape of the book

Our retail classification engine splits a venue's book by deposit size. On Obiex that is $1.74bn below the band across 1,399,680 deposits averaging $1,242, and $9.33bn above it across 429,638 deposits averaging $21,720.

The distribution is a barbell. Twenty addresses have each received more than $100M — $3.10bn between them. At the other end, 14,570 addresses have received under $10,000 each, $25.2M in total.

The size band splits on deposit size and frequency. It does not know what a business is, so we publish the distribution rather than a label.

Not a recent arrival

Deposits ran $0.91bn in 2022 and $3.05bn in 2025. The first nine months of 2026 have already taken $4.71bn — half again as much as the whole of last year, with a quarter still to run.

What we cannot see

We measure money before custody and after settlement, never inside. We do not see Obiex's internal ledger, its fiat legs, or who the depositors are. Among labelled exchange sources Binance is the largest at $1.07bn and Bybit second at $0.65bn, but self-custodied wallets account for $4.44bn and a further $2.29bn comes from senders we cannot label at all.

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