- Binance expands its services in West and Central Africa, extending its mobile money payments.
- The countries include Benin, Cameroon, Ivory Coast, the Democratic Republic of Congo, Togo, and Senegal.
- The exchange allows African clients to purchase cryptocurrencies directly through mobile money services.
Binance has expanded its services in West and Central Africa, extending its mobile money payments to six countries, including Benin, Cameroon, Ivory Coast, the Democratic Republic of Congo, Togo, and Senegal. The platform envisions boosting its financial inclusion, enabling easier crypto access to millions of Africans through local partnerships. Crypto aspirants in these areas could purchase cryptocurrencies directly through mobile money services.
Notably, Binance’s initiative is part of the exchange’s One Click Buy and Sell (OCBS) service, which was introduced in African countries in August. While the program facilitated crypto trading for users in Ghana, Tanzania, Uganda, and Zambia through mobile money accounts, the exchange’s recent efforts expanded the services to a broader region. Binance spokesperson Samantha Fuller shared insights on the initiative, highlighting the firm’s commitment to the region. She stated,
“We remain focused on advancing financial inclusion and delivering user-friendly solutions for crypto adoption across Africa…This expansion into West and Central Africa is a significant step in our mission to increase crypto adoption, providing millions of people with more direct access to the global digital economy.”
Read also: Stablecoins Propel Nigeria to 2nd Place in Crypto Adoption
However, Binance’s latest update is limited to crypto purchases. It simplifies the transaction processes for crypto novices through the secure and easy-to-use platform. Binance offers an opportunity for its customers in African countries to acquire virtual currencies, opening up their way to the global crypto market.
The development comes amid Nigeria’s indifference toward Binance executive Tigran Gambaryan, who is under government custody for alleged money laundering charges. Despite severe health issues, the court has denied Gambaryan’s bail. While the legal team requested his release, citing the need for surgery regarding his disk issues, the Economic and Financial Crimes Commission (EFCC) disputed the claim.
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