Global cryptocurrency exchange platform Binance is expanding its services in Africa by launching a feature called One Click Buy and Sell (OCBS) for users in Ghana, Tanzania, Uganda, and Zambia. Developed in collaboration with Web3 payment company Transfi, this feature allows users to trade crypto assets directly from their mobile money accounts, simplifying the process of buying and selling cryptocurrencies.
Binance emphasized its commitment to user security, stating that strict Know Your Customer (KYC) protocols and robust security measures are in place to protect assets and personal data, ensuring compliance with regulatory standards.
Binance expressed its broader mission of increasing the freedom of money globally, particularly by making cryptocurrency more accessible to Africa’s unbanked and underbanked populations. “By enabling mobile money deposits and withdrawals with these safeguards in place, Binance aims to empower users with easy access to digital assets,” the platform noted.
As Binance continues to expand in Africa, the platform has seen a 28.61% rise in crypto-to-crypto trading volumes between January and April 2024, receiving an estimated $117.1 billion in on-chain value between July 2022 and June 2023.
This expansion signals Binance’s commitment to leveraging Africa’s mobile money revolution, positioning itself as a key player in the continent’s evolving digital economy.
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