By Adedapo Adesanya
Leading decentralized Peer-to-Peer (P2P) trading platform, CryptoLocally, has announced its acquisition of Finance Bridge Academy, Africa’s fastest-growing online trading school.
With this acquisition, CryptoLocally is looking to launch the CryptoLocally African Academy free online training courses specialized for users in Africa as part of efforts to achieve financial inclusion by allowing their users to learn more about cryptocurrencies and crypto trading.
CryptoLocally is one of the leading P2P trading platforms in the industry which supports over 50 cryptocurrencies.
It is regarded as the first true decentralized P2P exchange powered by their native GIV tokens and the first to integrate DeFi functionality into their ecosystem with its Finance Wallet.
Finance Bridge Academy is a strategic trading and investment education company with over six years of experience trading in the financial markets.
It has been providing paid trading courses for Africans, mostly in Nigeria and Ghana, educating them on how to get more out of trading this new asset class. Now integrated into CryptoLocally’s ecosystem, these paid online courses are available for free for all registered users on their P2P platform.
The launch of the CryptoLocally African Academy highlights its continuous effort for cryptocurrency’s mass adoption and to promote free cryptocurrency literacy in Africa.
This acquisition opens the door to more courses in the future for other African jurisdictions and other regions globally, especially in Asia. It is the first step to a larger international crypto academy.
CryptoLocally is starting its education program with a focus on Africa because traditional financial institutions have failed to provide financial services to the masses. Their antiquated and often unfair banking practices are designed to protect the interest of the privileged few.
Speaking on this new development, the co-founder of CryptoLocally, Mr Hugo Campanella, said, “Africa is home to millions of tech-savvy youth who are very eager and receptive to technological innovations, especially for innovations that may give them the opportunity to achieve financial freedom and stability.”
“Needing and eager to learn, they are the perfect demographic to introduce this burgeoning asset class that will revolutionize financial services in the near future and step towards a more equitable financial system in the region,” he added.
CryptoLocally’s acquisition is expected to bolster the impressive crypto flow involved in Africa. In the last five years, Nigeria traded $566 million worth of Bitcoin which is the second-largest volume in the world.
Nigeria’s Bitcoin trade traffic increased at least 19 per cent annually since 2017. As for Africa as a whole, the monthly crypto transfers to and from Africa under $10,000 increased by 55 per cent the past year, indicating that cryptocurrency is being increasingly relied on as a financial asset, and potentially, a store of value (DW).
Previously, CryptoLocally announced their first incubation project with GemsLab, a game studio based in Africa, Ghana. The game studio specializes in developing simple, exciting, and easy-to-learn blockchain-based games with the purpose of introducing crypto and blockchain to the masses via its games.
CryptoLocally is strengthening its position in Africa which has been identified by many pundits and industry leaders as one of the regions that will benefit most from revolutionary technologies like crypto and blockchain.
It also represents one of the highest potential growth for cryptocurrency usage in light of its ongoing digital revolution and less than Ideal traditional financial landscape.
Dipo Olowookere