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Binance plans to expand across Africa

  • May 31, 2018
  • 2 min read
Binance plans to expand across Africa

Binance, the largest exchange platform for cryptocurrencies to expand across Africa in the near future according to its CEO, Mr ChangPeng Zao, who is also part of the as the third member of the cryptocurrency wallet’s team. The platform raised 15 million dollars in July 2017 during their Initial Coin Offering (ICO) for ERC20 BNB token.

He made this announcement during The Africa Blockchain Conference 2018 which was held in Kampala, Uganda. The conference is one of the well-attended blockchain conferences in Africa since Africa’s atmosphere became saturated with blockchain, cryptocurrencies, or bitcoin. The conference brought together 21 African countries around the blockchain space. Some of the high profile people who attended the conference include Yoweri Museveni,  the president of Uganda, Dr Bitange Ndemo, Llew Claasen, ChangPeng Zao among others.

Here is what ChangPeng Zao said in regards to expanding Binance to Uganda and beyond Africa;

Building up a local community does not limit us just to Uganda. Uganda is a very good starting point. But we can go across Africa as well.

He also showed interest in partnering with various organizations who would show interest in moving cryptocurrency and blockchain mission forward.

This is, therefore, a good opportunity for  Africa companies or organizations which are really interested in the blockchain technology to get support from more experienced firms. Kenya is one of the African countries which have expressed a strong interest in adopting the technology; the government, banks, land registration & ownership, among other sectors have been struggling to understand and find ways of incorporating the blockchain technology to increase efficiency and trust in the respective sectors.

You can find out more about The Africa Blockchain Summit 2018 by searching for #AfricaBlockchainUg on Twitter.

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Incuabte Africa

Incubate Africa, founded on June 5, 2016, is a Tech company based and Founded in Africa with the main focus of showcasing African-developed technology to the rest of the world. We strongly believe in what Africa has to offer the world. #Revolutionizing the startup culture

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