Binance, BankerX form fintech inclusion pact for Africa

Admire Moyo
By Admire Moyo, ITWeb's news editor.
Johannesburg, 18 Apr 2024
BankerX says it is seeing growth in Binance across Africa.
BankerX says it is seeing growth in Binance across Africa.

Crypto exchange Binance has teamed up with education technology and digital media company BankerX to drive fintech inclusion across Africa.

The partnership will focus on the use cases of crypto-currency, financial literacy and leverage thought leadership from Binance Academy and BankerX.

Binance Academy is a blockchain and crypto-currency education platform featuring over 1 000 articles and glossary entries, plus courses on blockchain, crypto-currencies and Web3.

BankerX, led by investment banker and fintech entrepreneur Koshiek Karan, disrupts traditional approaches to financial inclusion by leveraging media, technology, artificial intelligence and community engagement.

Its collaboration with Binance will see it focus on in-person networking events and a series of thought leadership conversations, leveraging Binance-created content.

“We’re seeing such incredible growth in Binance across Africa. As crypto emerges as a powerful force in the fintech landscape, establishing trust is paramount,” says Karan.

“Binance’s commitment to compliance and regulatory standards not only fosters credibility, but also ensures the protection of users’ assets and interests. This dedication lays a solid foundation for sustainable growth and fosters confidence among users and partners alike.”

He reiterates the importance of using fintech to connect communities. “We’re at this incredible point where regulators and visionary fintech platforms are converging and integrating into a seamless, frictionless ecosystem. We’re still pretty early on the mainstream crypto adoption curve. Being able to spearhead these conversations is a massive privilege. We’re thrilled about this partnership.”

Describing why Africa is lagging on fintech skills, Hannes Wessels, Binance South Africa country head, says failing infrastructure, challenging regulatory environments and poor governance are all contributing factors.

“The education gap, underscored by insufficient tech and financial literacy, remains one of the key challenges. Partnerships like this one can play a pivotal role in bridging this gap.”

Wessels explains the partnership does not have a rigid training format, such as a six-week training programme, but rather focuses on ongoing education and development through a series of thought leadership and content pieces.

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