The largest cryptocurrency exchange in the world has decided to turn to the African market. In particular, it has just signed a partnership with the CAF (African Football Confederation) to be the official crypto sponsor of the Total Energies African Cup of Nations (AFCON) 2021. The competition which is currently taking place in Cameroon and which will end February 6 represents an ideal showcase to promote the image of the exchange before more concrete projects.
Privileged access to an audience of more than 300 million viewers
The agreement between the two parties provides a promotion of Binance on the social networks of CAF and on the six sports sites hosting the competition. The Binance logo will notably be displayed on stadiums during matches and will be visible to more than 300 million viewers. The exchange will also be the official sponsor of three types of accolades namely Assist of the Day, Binance Assist of the Week, and Binance Assist of the Tournament.
CAF Secretary General, Veron Mosengo-Omba believes that this partnership will allow the exchange to connect more with its African users and the local community. “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.“, he added.
Potential to lead the future of the blockchain industry
Co-founder and CMO of Binance, Yi He recalled that one of the main missions of the exchange is to provide better access to financial services for the unbanked around the world. To do this, Binance has notably provided free cryptocurrency education courses to more than 540,000 Africans since 2020. According to Yi He, this initiative has allowed the exchange to see that Africa has the potential to lead the future of the blockchain industry.
“We will continue our efforts to push mainstream crypto adoption so that more people can understand crypto and understand Binance.“, he assured. With a growth of 1,200% the adoption of cryptocurrencies in Africa is undoubtedly the most spectacular in the world. It has been aided by the emergence of the crypto industry in several countries such as Kenya, Nigeria, South Africa and Tanzania which are in the top 20 of the global cryptocurrency adoption index.
After having initially focused on educating local populations about cryptocurrencies, Binance now clearly displays its ambitions in Africa. It is to become the main exchange through which Africans will now make their investments in the cryptocurrency market. This partnership is an excellent way to suggest this to them.
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.