As peer-to-peer trading continues to grow in the African market, Binance has revealed that it has processed $280 million on its Binance P2P platform so far.
Since March 2020, when it launched the support of the Nigerian Naira (NGN), Binance P2P, which currently supports five African currencies, seem to have grown substantially across 5 key markets.
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Below are the markets where Binance P2P currently operates in Africa and the local currencies it supports:
According to Binance:
“Africa is a blockchain continent, and the tremendous success of Binance P2P on the market is due to our local merchants. They are the heroes behind the exponential growth of P2P trading. They play a key role in providing liquidity and trading services for our users and facilitate crypto adoption in Africa.”
Binance P2P enables users in Africa to directly buy and sell cryptocurrencies with zero transaction fees using the local currencies.
The 6 cryptocurrencies supported on the P2P platform include:
- BTC
- ETH
- USDT
- BNB
- DAI
- BUSD
Binance is currently looking for more traders from Africa to join the Binance P2P platform.
About Binance
Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.
For more information, visit: https://www.binance.com.
RECOMMENDED READING: Close to Half of All P2P Bitcoin Volumes in Africa are Driven by Nigeria, the Continent’s Most Populous Nation, Latest Report Shows
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