SMC DAO Buys Nigerian Crypto Startup Bread Africa In Six-Figure Deal

SirMapy and Co. DAO (SMC DAO) has acquired Nigerian crypto startup Bread Africa in an undisclosed six-figure cash deal, signalling ongoing consolidation in the country’s digital asset ecosystem.

Founded in 2025 by Iam Etefia and co-founder Maven Harry, Bread Africa enables frictionless crypto-to-naira conversions without sign-ups or KYC, settling transactions via the cNGN stablecoin on Base.

The three-person team processed over USD 1.8 M in transaction volume before the sale. Post-acquisition, Etefia will remain an advisor while shifting focus to a new “Web3 bank” product, Loaf. SMC DAO plans to scale Bread Africa into a broader “swap everything” platform spanning crypto, fiat, and tokenised assets.