BlockchainNews

Binance adds support for more African currencies


Blockchain ecosystem and cryptocurrency infrastructure provider Binance announced that it has added support for more African currencies as it seeks to bolster its presence on the continent.

This includes,  the Liberian Dollar (LRD), Sierra Leonean Leone (SLL), Gambian Dalasi (GMD), Mauritanian Ouguiya (MRO) and Cape Verdean Escudo (CVE)

This development will enable users in these regions to make direct cryptocurrency transactions with other users in their preferred payment method, local currency and price without needing a third party or intermediary.

Users are now able to trade and post-trade advertisements in LRD, SLL, GMD, MRO and CVE, or directly trade BTC, USDT, ETH, BNB and BUSD with other users using these fiat currencies at zero fees.

“Binance has continued to remain committed to increasing the adoption and mainstream accessibility of crypto and we are excited to be taking this step in making access to digital assets effortless for more Africans.” said Nadeem Anjarwalla, Director for Binance in West & East Africa.

Additionally, users who have a stable source of cryptocurrencies, as well as LRD, SLL, GMD, MRO and CVE can now become merchants on Binance P2P. As programme members, they will receive exclusive customer support, verified badges and access to advanced trading tools. Furthermore, they can enjoy VIP discounts and zero fees on the platform.

Binance launched in July 2017 as a crypto-to-crypto exchange and within six months, became the world’s largest crypto exchange. Today, Binance is a global blockchain ecosystem spanning across trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment and incubation initiatives, and more.

By providing access to broad financial tools while maintaining one of the lowest fees in the business, Binance says it is making crypto accessible to everyone in Africa and beyond.

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Nixon Kanali

Tech journalist based in Nairobi. I track and report on tech and African startups. Founder and Editor of TechTrends Media. Nixon is also the East African tech editor for Africa Business Communities. Send tips to nkanali@techtrendske.co.ke.

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