One of the largest exchanges, Binance, announced that it would donate $1 Million in support of the development and growth of blockchain education and awareness in South Africa. The donation program will be executed by the Binance Charity Foundation, a charity and welfare wing of Binance exchange.

Tanya Knowles, Binance South Africa country manager, further informed that her organization is looking for a partner and local companies in order to utilize this sum to improve the current educational infrastructure and development of new programs to drive people in the field of blockchain in South Africa.

Binance to be First Global exchange to Launch Fiat support in South Africa

With the growing demand for Crypto trade worldwide, South Africa is also such a market yet to be tapped completely. Binance, a global leader in crypto trading, announced that it would extend its crypto-fiat feature to South Africa.

Binance is aimed to provide a fiat gateway to facilitate deposits in Rand, South African national currency.

Binance CEO, Changpeng Zhao, popularly known as CZ, provided this information regarding fiat acceptance at Binance. He confirmed that the global website of Binance would soon have a feature to accept a deposit in Rand for crypto trading. This announcement was made during the first day of the Blockchain Africa Conference, held in Johannesburg city of South Africa.

In a speech, Binance South Africa country manager further revealed the companies plan to provide the monetary freedom that is currently lacking in South Africa despite having the freedom of information. Currently, Binance is globally operational and offers complete support for crypto trading in 180 countries. Being the world’s largest exchange in terms of volume, it handles 1.4 million transactions per section, with around $4B of global transactions per day. Although many countries of Africa have the access to trade in cryptocurrency through fiat currency, South Africa still missing this opportunity. The Extension of fiat support to this African country will help spread the Blockchain awareness and enable people to invest and trade in Cryptocurrencies.