Fiat-to-Crypto Gateway for Africa Launches on Binance in Partnership with Flutterwave

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October 24, 2019 by
Fiat-to-Crypto Gateway for Africa Launches on Binance in Partnership with Flutterwave

The leading global cryptocurrency exchange, Binance, today announced the addition of its latest fiat-to-cryptocurrency gateway, providing access to its African users to purchase cryptocurrency with fiat in partnership with Flutterwave, a global payment technology company.

Starting today, users in Nigeria are able to purchase BTC, BUSD, BNB with Naira (NGN) through debit and a credit card through the Binance Fiat Gateway platform on the Flutterwave channel. Additional fiat pairs for local currencies throughout Africa, such as BTC/KES (Kenyan Shilling) and BTC/ZAR (South African Rand), will be supported in the near future as Binance develops new functions and channels to lower the barrier to entry.

“Africa has illustrated one of the largest demands and instrumental use cases for cryptocurrency, notably for financial access, in the world’s second-largest continent,” said CZ (Changpeng Zhao), Binance CEO. “In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation. Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption.”

Flutterwave Co-founder & CEO, Olugbenga “GB” Agboola believes this new partnership will be in line with Flutterwave’s mission to usher in a new wave of prosperity for Africans. “What we do at Flutterwave is, create possibilities for the everyday African to become prosperous. We create opportunities for the everyday African to reach prosperity levels that were beyond them in the past. That’s what this partnership is about. Africans are firmly part of the global financial community, Flutterwave is ensuring this,” he concluded.

This latest integration will allow users to purchase cryptocurrency so users can trade with the following pairs: BUSD/NGN, BNB/NGN, BTC/NGN; and access a large portfolio of digital assets on Binance.com with the lowest transaction fees in Nigeria and instant deposits and withdrawals. Continue reading…

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