The blockchain ecosystem and cryptocurrency infrastructure provider Binance, is making moves to expand its reach in Africa, as customers from Zambia, Tanzania, Uganda, and Ghana can now purchase cryptocurrency through their mobile money wallets.
According to the company, the goal of this latest move is to increase the company’s presence on the continent, where interest in and use of cryptocurrencies has grown significantly in recent years.
It stated that users would be able to purchase and sell cryptocurrency assets directly from their mobile money accounts once Binance’s One Click Buy and Sell (OCBS) service is implemented.
“This new feature is part of their global fiat on-ramp/off-ramp offering, developed in partnership with Transfi. Users are reminded to upgrade to the latest version of the Binance app,” the company pointed out.
The company uses strong security measures and stringent Know Your Customer (KYC) procedures to guarantee a safe experience. These procedures are made to comply with legal requirements while safeguarding user assets and personal data.
“By enabling mobile money deposits and withdrawals with these safeguards, Binance aims to make cryptocurrency more accessible to the unbanked and underbanked populations in Africa,” Binance said.
As consumers from Zambia, Tanzania, Uganda, and Ghana can buy crypto from their mobile money wallets, Binance is certainly increasing its accessibility, and it won’t be long before other African countries are included.
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