The largest crypto exchange in the world, Binance, launched a new kind of service in January this year for developers with aspirations within the world of crypto. This was about a free master class which had to lay the foundation for these developers to contribute to the progress of the crypto industry in the future.
More than 1,000 Nigerians had participated in this eight-week masterclass. The course was very popular. More than 10,000 people had signed up.
Binance in Africa
This is just one example of Binance’s long arm in the African continent. Over the past two years, the crypto exchange has organized more than 700 of these types of free courses for people in a number of African countries, but mainly Nigeria.
In total, as many as 400,000 people in Africa have already participated in one or more of the courses offered by Binance. According to Emmanuel Babalola, the head of the Africa department at Binance, the crypto exchange is the largest crypto educator in the entire continent.
It comes as no surprise that such Binance courses are so popular in Africa. In Nigeria, a fairly significant part of the population already uses cryptocurrencies. In addition, most searches come to, for example, bitcoin (BTC) from this African country for years. This is where the first Binance course was given in 2020.
According to Babalola, the potential of crypto in Africa is extremely large. According to him, the use cases on the African continent are perhaps the highest in the world. Mobile payments are thriving here and the FinTech ecosystem is growing almost exponentially. In addition, the cost of money transfers in many African countries sky high. This makes the use of cryptocurrencies for many Africans proves to be an enormously attractive alternative.
Binance does not seem to be planning to stop crypto courses on the continent for the time being. On the contrary, it has the ambitious plans to expand their services to as many African countries as possible.