financemagnates.com
To expand its global presence, cryptocurrency exchange Binance recently announced a collaboration with the Confederation of African Football (CAF). As per the details of the partnership, Binance has joined the 2021 TotalEnergies Africa Cup of Nations (AFCON) as an official sponsor.
The tournament, which started on 9 January 2022, will continue till 6 February 2022 in Cameroon. The deal has made Binance the exclusive cryptocurrency and blockchain sponsor of AFCON 2021. Through the deal, the digital exchange is planning to enhance its branding activities in the African region.
Binance has a strong presence in Africa. According to the company, it has provided free crypto education classes to more than 541,000 Africans in the last two years.
Veron Mosengo-Omba, CAF's General Secretary, commented: “I am delighted to welcome Binance as an official sponsor of the AFCON tournament this year. Through this partnership with CAF, Binance will connect further with its users and the African community through football. CAF is ready to embrace blockchain-based technology and its impact on the future of African football development. I am certain that together with Binance, we can take African football to a new level.”
In December 2021, Binance received in-principal approval from the Central Bank of Bahrain (CBB).
Crypto in Africa
Africa’s crypto market is booming. African countries like Nigeria, Kenya, South Africa, and Tanzania are among the top 20 countries in the Global Crypto Adoption Index. Binance witnessed a sharp surge in the total number of customers from Africa in 2021.
“With a population of 1.2 billion Africans and the prevalence of blockchain technology & its use cases, we believe the African continent could lead the future of the blockchain industry. We will continue to put in our efforts in pushing the mainstream adoption of crypto so that more people can understand crypto and understand Binance," Yi He, co-founder, and CMO of Binance said.