Binance, the world’s largest blockchain ecosystem and cryptocurrency infrastructure provider, has announced the start of support for more African currencies.
From now on, this ecosystem supports the Liberian Dollar (LRD), Sierra Leone Leone (SLL), Gambian Dalasi (GMD), Mauritanian Ugia (MRO), and Cape Verde Escudo (CVE). As a result of this decision, the company will significantly strengthen its position in the African financial services market. The company’s product line for local customers will also be expanded.
Binance’s new solution will enable ecosystem users in African countries to make direct financial operations with cryptocurrency with other consumers in their preferred payment method, local currency, and price. The previously existing mandatory condition of transactions in the form of participation of a third party in this process is no longer relevant.
Now users have the opportunity to trade and place trading ads in LRD, SLL, GMD, MRO, and CVE, or directly trade BTC, USDT, ETH, BNB, and BUSD with other consumers using these fiat currencies, with zero commissions.
Nadeem Anjarwalla, Binance’s director in West and East Africa, said that the company is currently following a strategy of activity that provides for the implementation of efforts for the global introduction of cryptocurrencies and ensuring mass access to them. He also noted that the support of African currencies will contribute to easier access of residents of this continent to digital assets.
Users who have a stable source of cryptocurrencies, as well as LRD, SLL, GMD, MRO, and CVE, can join Binance P2P. As participants of the relevant program, they will receive exclusive customer support, verified badges, and access to advanced trading tools. Also, these users get the opportunity to take advantage of VIP discounts. The platform does not provide any fees for financial operations.
As we have reported earlier, Binance Loans Launches Flexible Loan.