Binance has launched its latest fiat-to-crypto gateway in Nigeria enabling users in Nigeria to purchase BTC, BUSD, BNB with Naira (NGN) through debit and a credit card through the Binance Fiat Gateway.
This is the second Binance fiat-to-crypto gateway in Africa after Binance Uganda which was launched in 2018.
Speaking on the launch, ChangPeng Zhao (CZ), CEO, Binance, said:
“Africa has illustrated one of the largest demands and instrumental use cases for cryptocurrency, notably for financial access, in the world’s second-largest continent. In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation.”
“Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption.”
Speaking on the new partnership, Olugbenga Agbuula, CEO and Co-Founder, Flutterwave, said:
“What we do at Flutterwave is, create possibilities for the everyday African to become prosperous. We create opportunities for the everyday African to reach prosperity levels that were beyond them in the past. That’s what this partnership is about. Africans are firmly part of the global financial community, Flutterwave is ensuring this.”
The new integrations now allow users in Nigeria to trade the following pairs:
Other benefits that come with the new gateway include:
- Zero deposit fees up to $100 in NGN
- Instant deposits and withdrawals in Nigeria
- Lowest transaction fees in Nigeria
Founded in 2016, Flutterwave allows clients to tap its APIs and work with Flutterwave developers to customize payments applications.
Existing customers include Uber, Booking.com and now Binance.com. Flutterwave has processed 100 million transactions worth over $3 billion since inception, according to company data.