Binance Launching a Fiat Gateway in South Africa

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At the ongoing Blockchain Africa Conference 2020, Binance has announced that it will be launching a Binance Fiat Gateway in South Africa soon.

South Africa will now have access to all Binance exchange services and products.

The exchange will initially launch with five trading pairs below:

  • BTC / ZAR
  • BNB / ZAR
  • ETH / ZAR
  • USDT / ZAR
  • BUSD / ZAR

SEE ALSOThe Nigerian Naira Becomes the First African Currency to be Supported on Binance P2P Platform

BitcoinKE had a chat with Tanya Knowles, the Binance Country Manager, South Africa, to discuss the upcoming gateway and what we can expect once it launches.

Here is the recorded interview:

Here is the outline of questions discussed during the interview:

  • Is the new exchange similar to the Nigerian and Ugandan fiat gateways or different in terms of local support, gateway configuration?
  • What is Binance outlook of the SA market? Any numbers you can share?
  • What is this gateway expected to achieve that is lacking in the SA market currently?
  • Do you expect Binance to be competitive in a market already dominated by other well-established exchanges like Luno?
  • The $1M support for Africa or SA. Can you clarify the kind of support to expect for devs, ecosystem?

Following the fiat gateway announcement, Binance also said it has donated $1 million to support the blockchain and crypto ecosystem in South Africa as it seeks to help businesses grow and thrive on the continent.

 

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