In a six-figure cash deal, SirMapy and Co DAO has acquired Nigerian crypto startup Bread Africa. Consolidation continues in the country's digital asset sector.

The acquisition of Bread Africa follows a series of market transactions, including Roqqu's purchase of Flitaa in 2025. The deal adds to a growing trend of smaller crypto startups being absorbed by larger platforms.

Bread Africa, founded in 2025 by Iam Etefia, built a web application that allows users to convert digital assets into local currency without registration, wallet connection, or KYC requirements.

The platform operated on multiple blockchains, including Base and Solana, and settled transactions using cNGN, a naira-backed stablecoin. It processed a total payment volume of over $1.8 million before the acquisition.

SMC DAO takes control of Bread Africa's product and brand. Etefia will remain an advisor, while his team will focus on a new product called Loaf, designed as a Web3 financial platform.

The acquisition reflects a phase of consolidation in the Nigerian crypto ecosystem, where smaller startups are being integrated into larger platforms that are building comprehensive financial suites.