Binance Makes Another Move Towards Crypto Expansion
Binance was recently in the spotlight when Changpeng Zhao praised one of Ripple’s recent ads.
Other than that, an official announcement said that Binance.US supports trading pairs BUSD/USD, BTC/BUSD, and IOTA/USD.
The US-based exchange has reportedly adjusted its no-fee ACH limits to $30,000 for USD deposits and withdrawals.
Binance is expanding its fiat-to-crypto gateway for Africa
Now, the leading crypto exchange seems to be making efforts to expand its fiat-to-crypto gateway for Africa.
Through a new partnership with Lagos-based fintech Flutterwave, Binance allows African users to purchase crypto with fiat.
According to the latest news coming from the online publication the Daily Hodl, from now on, Nigeria users can buy Bitcoin, Binance Coin, and Binance’s new dollar-backed stablecoin with Naira (NGN) using a debit or credit card.
More than that, Binance said that it would roll out fiat pairs for local currencies throughout Africa, such as BTC/KES (Kenyan Shilling) and BTC/ZAR (South African Rand), shortly.
Nigeria dominates the searches for Bitcoin
It’s also important to note the fact that Nigeria dominates the searches for Bitcoin on Google Trends.
Binance CEO Changpeng Zhao said the following:
“Africa has illustrated one of the largest demands and instrumental use cases for cryptocurrency, notably for financial access, in the world’s second-largest continent. In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation.”
He continued and said that “Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap, and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption.”
In other news, Binance made an important announcement not too long ago – there’s a new product for institutional investors.
Institutional investors have been targeted by the crypto space for a while now and there are a few moves that seem to be successful in this direction.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.