Binance, the world’s largest cryptocurrency exchange, is undertaking what it calls a “crypto awareness tour” in Africa as interest in digital coins and tokens spikes on the continent.
The goal of the “Blockchain and Cryptocurrency Awareness Tour (BCAT)” is to spread blockchain and cryptocurrency awareness as well as educate people across Africa on the merits of digital assets.
Binance says its campaign in Africa will begin on June 4 in Nigeria. From there it will move across Africa to countries such as Uganda, Ghana and Cameroon, among others. This year’s event is expected to attract more than 5,000 Africans who are interested in investing in various cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
Binance has been a sponsor of the Blockchain and Crypto Awareness Tour since 2019 when the program was first introduced. The program initially targeted students but has since grown to reach anyone interested in cryptocurrrencies and blockchain.
In 2020, the tour took place online because of the pandemic. So far, Binance claims the tours have reached more than 60,000 people across Africa.
This year’s tour will focus on non-fungible tokens (NFTs) and the metaverse, says Binance. Although Africa is still far behind when it comes to cryptocurrency adoption and investments, users have been able to use digital assets as a substitute for failed payments systems in many African nations.
Founded in 2017 by Canadian entrepreneur Changpeng Zhao, Binance is today the world’s biggest cryptocurrency exchange. The firm handled $490 billion U.S. of trading volumes in March of this year, according to data from CryptoCompare.
In a survey published in late 2021 by Chainalysis, the major drivers of cryptocurrency adoption in Africa are peer-to-peer payments and personal savings.
Separately, Binance has also announced that it has raised $500 million for a new venture capital fund that will invest in start-ups focused on Web 3.0.
