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Africa offers some unique opportunities for crypto adoption



Africa is still lagging behind in terms of cryptocurrency trading volume, but Binance CEO said there was a great opportunity for crypto adoption on the continent.

Binance CEO Changpeng Zhao (CZ) said the cryptocurrency exchange is optimistic about the adoption of cryptocurrencies in Africa, although it is lagging behind other continents in terms of trading volume. He made it known in a recent interview with Tech Crunch .

When asked why he was optimistic about Africa, CZ said the continent had unique crypto potential. He explained:

“The African continent offers some unique opportunities for the adoption and development of cryptocurrencies, and so we in Africa have always been optimistic. Crypto solves the problems of cross-border payments and transfers (sending money within Africa and beyond), currency devaluation, etc. Many African countries have suffered from high unemployment rates, and crypto and blockchain have provided innovative job opportunities to a young and brilliant continent. They bring Africans closer to financial freedom. "

Nigeria and Kenya, two of the largest economies in Africa and leading cryptocurrency nations, have cracked down on crypto trading activity in recent months. In Nigeria, banks have stopped offering services to crypto exchanges, making it impossible for citizens to deposit and withdraw crypto funds using the naira.

Citizens have turned their attention to peer-to-peer platforms like Binance P2P, Paxful, and LocalBitcoins. Nigeria remains one of the leading countries in the world in terms of adopting cryptocurrencies.

CZ noted that Binance welcomes regulation in Africa and other parts of the world. He added that Binance is actively keeping pace with changing policies, rules and laws in this area. He insisted that Binance would support regulators and find the best way to ensure a fair playing field for investors and innovators.

Binance has been tested for functionality in different parts of the world. However, the crypto exchange has massively changed the way it works in recent months to meet the numerous regulatory requirements around the world.


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