Binance launched a new money transfer app across Africa backed by cryptocurrency. The app can be download on android as well in phone and can store, transfer money without any fee.The app firstly launched in Nigeria in local currency believe to be Africa largest economy.
The app supported local currency Naira as well bitcoin, binance coin and BUSD, the exchange’s dollar stablecoin. The app get fund of 450000$ from binance in 2019, and remain fund from other African investors their name hide by binance.The app will fully functional in all African countires until end of 2020.Binance announced their app after Akon crytocurrency project Akoin become regions primary payment solution.
Akon said a deal for Akoin to be used as the chief payments processor for Kenya’s Mwale Medical and Technology City (MMTC), a city of 35,000 residents, gives “Akoin a dominant position to control the market of 400 million people in eastern and central Africa, many of who rely on mobile digital transactions for their financial services.”Binance already working in Uganda, Kenya and main time they come into Nigeria Africa second largest economy.