Binance has revealed that the number of people utilizing Binance Pay in Africa has increased significantly. The cross-border crypto payment system promises to enhance financial inclusion and accessibility across the continent. In 2022, the crypto and blockchain business launched the Binance Gift Card in Ghana.
Binance offered quick withdrawals and deposits for the South African Rand in August 2022. In October, the blockchain firm established a currency gateway for the Nigerian Naira through the tokenized asset payment channel Cash link. With the fiat gateway’s opening, Nigerians could deposit and withdraw Naira straight to and from their wallets.
The Binance Masterclass provided free crypto instruction to hundreds of millions of Africans in December 2022. Binance organized over 300 live and online educational events to further its objectives.
Women’s Education in Africa’s Fintech Business
Binance Africa has also established programs like the Blockchain for Women Bootcamp to close the continent’s gender gap. Three hundred women graduated from the eight-week BootCamp to provide the necessary skills to impact the business.
In 2022, the Binance Charity x Utiva Scholarship Initiative was also created. The project intends to educate 50,000 young Africans in technology and give scholarships to 1,000 Africans to participate in a year-long intensive skill training program.
The cooperative program aims to promote the continent’s economic growth. It provides skill training, educational programs, mentorship sessions, and increased access to industry career prospects. Binance initiated a crypto education tour throughout five countries to enhance its educational goals in 2022.
The corporation has increased the size of its Secure Asset Fund for Users, which currently stands at $1 billion.The emergency insurance fund was established to safeguard Binance users in dire circumstances. Binance’s Industry Recovery Fund was also established to assist in the industry’s reconstruction and safeguard users.