RATE Group | Binance to Launch Fiat Support in South Africa, Donate $1M to Blockchain Education
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Binance to Launch Fiat Support in South Africa, Donate $1M to Blockchain Education

15 Mar Binance to Launch Fiat Support in South Africa, Donate $1M to Blockchain Education

Posted at 10:38h in Cryptocurrency News by

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Binance CEO Changpeng Zhao has announced that the company will launch a fiat gateway for South African users, allowing them to make Rand deposits. The announcement was made on day one of the Blockchain Africa conference being held in Johannesburg this week.

CZ confirmed that South African traders would soon be able to make Rand deposits on the platform through the Binance website. This is part of an ongoing push into Africa that started in Uganda in 2018:

“Africa illustrates one of the largest demands and instrumental use cases for cryptocurrency, notably for financial access. According to the World Bank, approximately 66 percent of sub-saharan africans are listed as unbanked. So instead of trying to bank the unbanked, let’s try and Bitcoin the un-Bitcoined.”

With a foothold in 35 African countries, CZ said that South Africa was one of the bigger countries that the company had planned to service:

“Looking at South African specifically, crypto adoption continues to rise with SA…

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