The CEO of Binance, the largest cryptocurrency exchange by volume globally, has said that Africa is one of their key markets where cryptocurrencies will see a real use case.
In an interview with CNBC Africa, ChangPeng Zhao, CEO, Binance, said:
“We view Africa as a really important market. There are 1.2 billion people on the continent. We view cryptocurrency that cryptocurrency can serve a potential purpose where we no longer need to bank the unbanked, we can just bitcoin the un-bitcoined.
This provides a new alternative financial service that can service a very large number of people.”
Recent statistics on Sub-Saharan Africa have revealed Bitcoin trades on peer-to-peer exchanges has hit a new high, breaking the December 2017 bull market run that saw bitcoin reach $20, 000.
The Binance P2P platform has also seen adoption in the Nigerian market and we can expect it to expand beyond this market across the continent.
Follow us on Twitter for latest posts and updates
Open a Paxful Bitcoin Trading Account today!