Emmanuel Babalola, Africa’s Director at Binance, unveiled plans to make cryptocurrency a mainstream product on the continent. Although the context is quite complex with people's mistrust of crypto, the 27-year-old manager seems determined to achieve his goal.

The former MD of Binance Nigeria, who became head of the company's African division in 2021, plans to increase awareness campaigns and training on the usefulness of virtual currencies. He has already contributed to several education initiatives, including Binance Academy and Binance Masterclass. These programs aim to teach Africans the fundamentals of cryptocurrencies, as well as how to identify scams and seize real opportunities.

“Our top priority is user safety, and therefore we kicked off our education initiative – to teach crypto fundamentals, explain everyday use cases and ensure users know how to avoid scams. We also kicked off a campaign called My Crypto Life, an initiative that spotlights incredible crypto stories from people around the world, showing how crypto can be used by everyday people,” Emmanuel Babalola said.

In Africa, the volume traded by African users on the Binance platform has increased by 589%, the manager claimed. He sees this promising figure as a way to convince skeptics, who are concerned about fraud, capital flight, and environmental damage associated with bitcoin.

The Binance Masterclass estimates that more than 350,000 Africans have benefited from educational resources by 2021. Emmanuel Babalola says Binance is creating the educational infrastructure that Africans need to be financially free and informed. To attract more users, the global digital asset platform is stepping up efforts on the continent, officially becoming a sponsor of the 33rd edition of the African Cup of Nations.

Since 2020, Binance's various programs have benefited more than 541,000 Africans. The new partnership with AfCON, which is one of the most publicized events on the continent, offers an opportunity for Emmanuel Babalola to reach 160 countries and an audience of nearly 300 million people. “Greater blockchain adoption is opening the gateway to more opportunities for many businesses to develop even more blockchain-based applications and create more job opportunities,” he said.

Aïsha Moyouzame