Binance CEO “CZ” Visit To This Country Will Drive Massive Crypto Adoption

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CoinGape
7w ago2022-08-05

Binance CEO “CZ” on Friday met with the Central African Republic’s President Faustin-Archange Touadéra to discuss education, investments, regulatory frameworks, and crypto adoption in the country.

Binance CEO had earlier cleared his mission to lead the next wave of crypto and blockchain adoption. The expansion of the firm in the Central African Republic will drive massive crypto adoption across the African continent due to the “Sango Project” crypto initiative.

Binance CEO Visits the Central African Republic

Binance CEO “CZ” in a tweet on August 5 announced his visit to the Central African Republic to drive massive crypto adoption. He met with President Faustin-Archange Touadéra to discuss crypto education and investments in the country, raising awareness about the benefits of crypto. The Central African Republic became the first nation in Africa to make Bitcoin a legal tender.

Binance CEO also discussed the crypto regulatory frameworks in the country. He believes crypto regulations help drive crypto adoption by establishing trust in people.

Interestingly, the crypto exchange continues to expand its presence globally, pushing the acceptance of Binance Coin (BNB) as payments through Binance Card and Binance Pay.

Commenting on the meeting with Binance CEO, Central African Republic President Faustin-Archange Touadéra said:

“Impressive meeting today and an incredibly important step for the future of the Central African Republic. Thank you CZ Binance for opening up and sharing some brilliant ideas based on the Binance experience. A truly remarkable moment!”

In fact, the Central African Republic has its own national digital currency, Sango Coin. SANGO is used to raise funds for “Sango Project” crypto hub initiatives. The meeting with Binance’s CEO is a step in the right direction.

The project is the vision of the Central African Republic President to drive Bitcoin and crypto adoption in the country. It will have a digital national bank, the Sango island connecting metaverse and the real world, a tokenization framework for assets and the country’s resources, etc.

Binance Expands Supported Cryptocurrencies on Binance Card

Crypto exchange Binance has today added support for Ripple’s XRP, Avalance (AVAX), and Shiba Inu (SHIB) on Binance Card, expanding the number of supported cryptocurrencies to 14. Binance Card users can convert and spend cryptocurrencies in over 60 million online and physical stores. While it only applies to users living in the European Economic Area and Ukrainian refugees residing in the EEA country, Binance is looking to expand it globally.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.
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