Binance Becomes Exclusive Cryptocurrency Sponsor of African Cup of Nations

The world’s largest digital asset trading venue – Binance – announced it partnered with the Confederation of African Football (CAF). As a result, the company became the official cryptocurrency and blockchain sponsor of the 2021 TotalEnergies Africa Cup of Nations (AFCON) tournament.

The latter is the most significant soccer championship on the continent – this year, it is held from January 9 till February 6, 2022, in Cameroon.

Binance’s African Endeavor

Apart from taking its global brand and technology to African soccer, Binance also became the official partner of the Assist of the Day / Binance Assist of the Week / Binance Assist of the Tournament. The feature will be promoted across CAF’s social media channels and all six venues in five cities in Cameroon.

The tournament kicked off on Sunday, January 9, when the host country faced Burkina Faso. More than 160 nations are expected to broadcast the championship with a total audience of over 300 million as Binance will have its logo displayed on each stadium during the matches.

Veron Mosengo-Omba – CAF’s General Secretary – believes the cryptocurrency exchange will connect further with its African users and the local community following this initiative.

“CAF is ready to embrace blockchain-based technology and its impact on the future of African football development. I am certain that together with Binance, we can take African football to a new level,” he added.

Yi He – Co-founder and CMO of Binance – reminded that his company has a mission to grant greater access to financial services for the world’s unbanked. As such, Binance has provided free crypto education classes to over 540,000 Africans since 2020. According to the executive, Africa has the potential to lead the future of the blockchain industry.

“We will continue to put in our efforts in pushing the mainstream adoption of crypto so that more people can understand crypto and understand Binance,” Yi He assured.

Crypto Adoption in Africa Is on the Rise

According to numerous researches, Africa is the undisputed global champion in cryptocurrency adoption as its growth exceeded 1,200% at one point last year. Moreover, countries like Kenya, Nigeria, South Africa, and Tanzania all ranked in the top 20 of the Global Crypto Adoption Index.

It is interesting to see why Africans find digital assets so attractive. According to a recent survey, approximately 70% of the local crypto investors deal with bitcoin or alternative coins to provide a better life for their families.

Specifically, 48% allocate funds in cryptocurrencies to pay for their children’s future educational costs. In comparison, 43% do the same to establish a fund to pass on to their relatives.

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