How Binance is Accelerating Adoption, Education, Transparency across Africa

Emma Okonji

Binance, a global leader in crypto and blockchain infrastructure, with established operations in Nigeria, has continued to experience immense growth across Africa, making it one of the fastest-growing regions for the company within the year.

Reviewing the company’s performance for the year, during its end of year dinner in Lagos recently, the Director, East Africa at Binance, Mr. Nadeem Anjarwalla, highlighted three key features: Adoption, Education and Transparency that shaped the business of Binance across Africa in 2022.

In the area of adoption, Anjarwalla, said: “As a leader in the blockchain industry, Binance has been key to innovating new products and services that enable financial accessibility and inclusivity for Africans. Notably, the company recorded a significant increase in Binance Pay users across the continent, highlighting its strong use case and continued uptake. Binance Gift Card also became available in Ghana, making it the first of its kind on the continent.”

He said in 2022, Binance expanded product offerings across multiple regions in the African continent, including Nigeria, where it  introduced a fiat gateway for the Nigerian Naira through Cashlink in October 2022, a development, he said, enabled Nigerian users to withdraw and deposit Naira directly to and from their wallets, enabling greater financial accessibility for African users.

“Overall, in 2022, our Africa team more than doubled in size, highlighting the company’s focus on the region, the holistic crypto-forward mindset of the continent, and a strong appetite across African nations for a transformational system that drives innovation and financial inclusion,” Anjarwalla, said.