Following Binance Uganda closure, Binance P2P makes strong inroads in Africa
The cryptocurrency exchange has given up on Binance Uganda, but the regional play remains strong Following the announcement of a disappointing closure of a Ugandan subsidiary in October, Binance — the world’s largest cryptocurrency exchange — released a blog post yesterday indicating that another initiative, Binance P2P, is making strong inroads across the world’s second-most populous continent. Titled “P2P Merchants: Facilitating Freedom of Money in Africa,” the post highlighted the peer-to-peer trading program’s growth in the region throughout the year — most notably stating that Binance....
Related News
The world’s largest crypto exchange announced two subsidiary suspensions within one month. The world’s largest cryptocurrency exchange is launching a new affiliate program in Africa after announcing the termination of its Uganda-based service.On Nov. 3, Binance officially announced the launch of the Binance Africa Affiliate Program aiming to promote Binance across the region. According to the exchange, the new program is open to influencers, crypto enthusiasts and content creators across Nigeria, Ghana, Kenya, South Africa and Uganda.A spokesperson for Binance told Cointelegraph that....
One of Africa’s oldest museums, the Uganda National Museum (UNM), is set to create digital representations of the unique artifacts that are on display at this facility. Working in concert with software development firm Murcom, Uganda’s biggest museum is expected to display and auction the digitally represented items on Binance’s non-fungible token (NFT) marketplace. Uganda National Museum Artifacts to Be Made NFTs According to Murcom’s post on Medium, the “blockchain-based digital representations of the various items under the Museum’s custody”....
Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country.
Binance Ceases Some Services in South Africa
Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will....
The list of regulators warning that Binance is illegally operating in their jurisdictions continues to grow. The authorities in Singapore and South Africa have become the latest to warn that the global cryptocurrency exchange may be in breach of their local laws.
South Africa’s Financial Sector Conduct Authority Warns Against Binance
The South African financial regulator issued a notice Friday about Binance, stating:
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when dealing with Binance Group as they are not authorised to....
BCAT Africa 2022 aims to increase crypto awareness on the continent at a time when more Africans are turning to digital assets. With a 1,200% increase in received crypto volume between 2020 and 2021, the accelerated adoption of digital assets in Africa has captured the attention of multiple companies and organizations looking to take part in this growing market.Set to take place in June, the Blockchain and Cryptocurrency Awareness Tour (BCAT) is a Binance-powered ongoing awareness campaign that has been spreading knowledge and trying to cultivate a strong crypto community in Africa. By....