Binance launches mobile money crypto purchase in Africa, allowing users in six countries to purchase cryptocurrency directly via mobile money payments.
Binance, the world’s leading cryptocurrency platform, is expanding its services in Africa. It now allows users in six countries—Benin, Cameroon, Ivory Coast, the Democratic Republic of Congo (DRC), Togo, and Senegal—to buy cryptocurrency directly using mobile money. This new service was made possible through local partnerships.
Currently, the service can only be used to buy crypto but not sell them. This also makes it easier for new individuals to invest in cryptocurrency. Binance expects this to make more people in these areas to give digital currencies a try.
Binance Sees Mobile Money as Key to Popularizing Crypto in Africa
This move falls within Binance’s larger strategy to continue opening up the digital economy in Africa. It already uses mobile money payments to purchase crypto in other African countries such as Ghana, Tanzania, Uganda, and Zambia. This was further supported by Binance’s spokeswoman, Samantha Fuller, who pointed out that the company is working to make cryptocurrency more usable and bring more African people into the financial system.
Fuller also said that this new service in West and Central Africa is a significant move towards popularizing cryptocurrency among millions. In particular, the adoption of mobile money, which is already popular in Africa, Binance, is making it easier for people to purchase digital assets safely.
The new feature is meant to be friendly to the end users. This allows people in these regions to have a stable source of cryptocurrencies to buy, which may create new financial prospects for them. Binance is committed to expanding its reach in Africa, aiming to grow its user base. By introducing mobile money for crypto purchases, the company provides more opportunities for people to engage with the digital economy. This step is seen as a move towards greater financial inclusion, allowing users to access cryptocurrencies easily.
Many will likely embrace the new service since mobile money is already widely used in Africa. As a result, it will help people integrate with crypto and explore new financial possibilities. Furthermore, Binance’s expansion into additional African countries will significantly impact the region. This effort reflects the company’s dedication to broadening its coverage across Africa. Binance prioritizes security and simplicity in its offerings, making crypto accessible to a wider population.
In conclusion, this initiative marks a crucial step towards accelerating crypto adoption in Africa. Binance remains focused on empowering people to participate in the global digital economy.
