Binance is set to launch South African Rand (ZAR) gateways in the coming weeks alongside a donation towards cryptocurrency education in the country.
During the Blockchain Africa Conference 2020 in South Africa, Binance, a lead sponsor at the event, released details on the entry of the exchange into the South African market.
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The session was lead by Tanya Knowles, Country Manager of Binance SA, featuring a prerecorded cameo by Changpeng Zhao (CZ), CEO of Binance.
Zhao announced that Binance, one of the world’s leading exchanges, intends to establish FIAT gateways in South Africa.
Let’s bitcoin the unbitcoined, …Today, I’m excited to share with you that Binance will be launching a South African FIAT gateway very soon. This will enable South African users to buy cryptocurrencies with their bank accounts.
Changpeng Zhao (CZ), CEO of Binance
Further, CZ spoke about Binance’s presence in Africa beyond its flagship exchange platform. He mentioned that Binance Charity would be partnering with various organizations to spread Binance led philanthropy in South Africa.
Binance South Africa’s fiat gateway will launch with five trading pairs: BTC/ZAR, BNB/ZAR, ETH/ZAR, USDT/ZAR, and BUSD/ZAR.
The exchange also announced a $1 million donations through localized branch Binance South Africa to educate people about cryptocurrencies.
Binance currently has two fiat gateways for users on the African continent in Nigeria and Uganda. Binance Uganda is a stand-alone exchange made for the Ugandan market. On the other hand, Nigeria’s Naira was added to the Binance exchange in October 2019 and Binance P2P last week.
South Africa will be the third African market for Binance as CZ teased more additions in the coming months. Binance is set to have another session during day two at the ongoing Blockchain Africa Conference in South Africa.
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