Binance, a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies has partnered Flutterwave to list the Nigerian Naira on its exchange. This means that users can now use Naira deposits to purchase BUSD, BNB, and BTC.
This development, which was announced on the official Binance blog. In a bid to promote its first fiat listing on the exchanger, Binance has made a zero fee deposit through Flutterwave of up to N36,000 ($100) for all newly registered users.
The exchange has also committed a sum of N3,600,000 ($10,000) to reward newly registered users who make deposits on the exchange. The rewards would be shared on a first-come, first-serve basis.
Commenting on the new partnership, Changpeng Zhao, CEO of Binance, he said: “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.
“In sub-Saharan Africa, about 90 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-crypto gap, and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption.”
CEO of Flutterwave Olugbenga Agboola also reiterated the mission of the company saying that: “What we do at Flutterwave is, create possibilities for the everyday African to become prosperous. (….) that is what this partnership is about.”
