Binance Enables Trading With More African Currencies

March 2, 2023
African currencies

By Adedapo Adesanya 

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has announced that it has added support for more African currencies.

This includes the Liberian Dollar (LRD), Sierra Leonean Leone (SLL), Gambian Dalasi (GMD), Mauritanian Ouguiya (MRO), and Cape Verdean Escudo (CVE).

This is part of efforts to expand its product offerings and bolsters its presence on the continent.

In a statement today, it said the development would enable users in these regions to make direct cryptocurrency transactions with other users in their preferred payment method, local currency and price without needing a third party or intermediary.

“Users are now able to trade and post trade advertisements in LRD, SLL, GMD, MRO and CVE, or directly trade BTC, USDT, ETH, BNB and BUSD with other users using these fiat currencies at zero fees,” the statement read.

Mr Nadeem Anjarwalla, Director for Binance in West & East Africa, explained that “Binance has continued to remain committed to increasing the adoption and mainstream accessibility of crypto, and we are excited to be taking this step in making access to digital assets effortless for more Africans.”

“Additionally, users who have a stable source of cryptocurrencies, as well as LRD, SLL, GMD, MRO and CVE can now become merchants on Binance P2P.

“As programme members, they will receive exclusive customer support, verified badges and access to advanced trading tools. Furthermore, they can enjoy VIP discounts and zero fees on the platform.”

Launched in July 2017 as a crypto-to-crypto exchange, Binance has become a global blockchain ecosystem spanning trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment and incubation initiatives. This it does by providing access to broad financial tools while maintaining one of the lowest fees in the business.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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