Binance, the world’s largest cryptocurrency exchange, has significantly expanded its presence across Africa, now offering fiat-to-crypto services in over 30 countries. This expansion enables users to buy, sell, and trade digital assets using local currencies and payment methods, rather than relying solely on global or USD-based channels.
The new system supports a variety of payment methods, including Mobile Money, bank transfers, and card payments. Local currencies accepted by Binance now include the Kenyan shilling (KES), Ghanaian cedi (GHS), South African rand (ZAR), Central and West African CFA francs (XAF, XOF), Ugandan shilling (UGX), and Tanzanian shilling (TZS).
In Kenya and the Ivory Coast, Binance has activated its “One-Click Buy & Sell” feature, allowing users to instantly trade crypto with their Mobile Money PIN. In West Africa, the company integrated Wave to handle XOF (CFA franc) transactions while enabling ZAR deposits via bank transfer in South Africa.
A key part of this expansion is peer-to-peer (P2P) trading. Binance says that for several local currencies, users can trade without incurring certain fees, helping to reduce costs and boost accessibility for new and existing crypto participants in the region.
Binance’s regional leadership emphasises that this is not just an investment play; it’s about financial inclusion. According to Larry Cooke, speaking for Binance Africa, “crypto is more than an investment, it’s a tool for everyday financial empowerment, enabling fast payments, cross-border transfers, and new economic opportunities for businesses and entrepreneurs.”
On the compliance front, Binance is working closely with local financial institutions and payment infrastructure providers to ensure its offerings align with regulatory frameworks and protect users while scaling operations.
For millions across Africa who have limited access to traditional banking, Binance’s extended reach could be transformational: it lowers the barriers to entering the crypto ecosystem, supports remittance use cases, and gives users a more direct on-ramp into digital finance. As crypto adoption continues to grow on the continent, Binance’s move may well redefine how Africans access and use digital assets.
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