Binance, the world’s biggest Cryptocurrency exchange in terms of volume has declared a $1 million donation to broaden the Blockchain space in South Africa. In a Keynote Address on the first day of the 6th Blockchain Africa Conference (BAC2020) on Wednesday, Tanya Knowles, Country Manager at Binance indicated that the donation is to contribute to Blockchain Education. 

She maintained that Binance is committed to continuing to assists in development projects in African countries they are operating. More importantly, promoting Blockchain technology and public understanding of it is their priority.

Knowles urged the participants of the conference to take advantage of the free courses Binance academy offers to deepen their knowledge of Blockchain Technologies. “I highly recommend Binance Academy for all of you, I have personally been a beneficiary of the free education the academy offers,” she recommended. 

Binance Enters South African Market 

Binance, who is a premier sponsor of the Blockchain Africa Conference 2020, announced their entry into the South African Market. This brings to five the number of Cryptocurrency exchanges operating in the Southern African nation. 

The Chinese outfit will be operating a fiat gateway offering five pairs to the South Africa Rand (ZAR). The move brings to three the number of countries the Digital Assets Exchange giant is currently operating in Africa. 

The country manager hinted that users of the platform in South Africa are going to have access to all the services Binance offers globally. She said that with the over 1.4 million users of the exchange scattered around the world, liquidity is always available to users. 

QBITtimes, Managing Editor, interviewing Tanya Knowles

In an exclusive interview with the QBITtimes at the sidelines of the ongoing Blockchain Africa Conference in Sandton, Johannesburg, Knowles intimated that her outfit would complement the existing services available to the Crypto community. When asked if Binance is not bothered by some South African banks closing the accounts of exchanges, this was her response:

“We are not worried and think we have a mutual interest with the banks. What we should know is that the banks work under regulatory mechanisms and are therefore concerned with protecting their customers.”

It will be recalled that Binance began its first fiat-crypto exchange in Uganda in 2019 with Crypto to Uganda Shilling (UGX) pairs, and expanded to Nigeria with Crypto to Naira pairs. Knowles revealed the company is going to set shops in more countries in Africa in the coming months.

 The Digital Assets Exchange market in South Africa is going to be interesting to watch. There are exciting players with numerous products and services at the public’s disposal. 

It is common to see huge billboards in the city of Johannesburg advertising cryptocurrency exchanges. So far there are companies like Luno, ICE3, Altrader, VALR and now Binance.