Why Binance and Akoin Bet on Crypto Adoption in Africa

The continuing knowledge and use of cryptocurrencies has increased demand for bitcoin in Ghana, Senegal, Nigeria, and Kenya. The worldwide epidemic has driven the economy to run through digital transactions, increasing demand.

eBitcoinics in Ghana is one. Nawaf Abd, the entrepreneur, said bitcoin sales were booming during the Corona outbreak. He also stated that too many people crashed the systems.

Paxful and LocalBitcoins, Ghana’s bitcoin markets, had a $4.2 million gain in 90 days, according to researcher Matt Ahlborg. (Paxful is an online marketplace that accepts several payment methods. It’s like LocalBitcoins)

Nigeria’s bitcoin market is developing with Ghana’s. According to Ahlborg study, Nigeria’s bitcoin market is worth ten times Ghana’s. Estimated value: $63.9 million. The figures have prompted Binance to invest in Nigeria and Ghana. Binance is a cryptocurrency trading platform that allows users to purchase and sell cryptocurrencies.


Binance co-founder Yele Bademosi launched Bundle in Nigeria in late April 2020. Since its launch, the Bundle app has been downloaded by thousands of crypto users. In the past, an introductory Zoom webinar had almost 1000 applications even though the Zoom could only handle 100 people.

The firm is performing well in Nigeria owing to the large populace betting on the future money. Due to the popular acceptability of cryptocurrencies in Ghana, it has committed to adopt the Bundle App.

Bademosi thinks Binance exists to shift value. Whatever the form, as long as the value moves. The software enables users to transfer money to contacts whether or not they are using it. The funds may only be accepted by Nigerian banks that accept ether, bitcoin, and BNB. Binance’s dollar-denominated stable currency BUSD may be included.

Akon, a Grammy-winning rapper, has indicated interest in the African crypto market. The Senegalese-American singer has been investing in Bitcoin since 2014.

This is Akoin.

He co-founded Akoin with Lynn Liss (CEO) and Karas. Due to the lockout, the akoin founders felt the necessity for a Pan-African money. The epidemic pushed online shopping. Crypto start-ups promoted digital currency usage.

$6 billion in Akon City, Senegal. The tech metropolis will be 2000 acres. He also indicated he is negotiating land acquisition with the Senegalese government. Akon City will be supported by akoin, the city’s principal currency, and not by the government. The city will utilize Akoin to pay bills and personnel.

Token sales are anticipated to attract the disadvantaged population, provide a stablecoin, and raise $6.75 million.

Akon is building Mwale Medical and Technology City in Kenya (MMTC). It will cost roughly $2 billion and use akoin crypto.

Residents and employees would be able to utilize the akoin cryptocurrency system by the end of the year, said MMTC lead investor Julius Mwale. They will be linked to akoin-accepting banks once the system is launched. Also, employees will be compensated in akoins.

On November 11, Akoin began trading on Bittrex Global against USDT and BTC.

Cryptocurrencies are the future’s money because to their rising popularity, security, and worth. Its success relies on the African market and jurisdiction.

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