Read time: 3 minutes

Binance launches crypto training hub in Yaoundé

By , Freelance Investigative Journalist
Cameroon , 25 Aug 2022

Binance, among the largest cryptocurrency exchanges in terms of daily trading volume, has opened a cryptocurrency and trading tech education hub in Cameroon’s capital Yaoundé.

The hub, a first for the country, is the result of a partnership between Binance and Inoni Tech, described as Francohpone Africa’s first non-profit tech hub focussed on Web 3.0 and blockchain technology.

Binance continues to follow an aggressive expansion strategy, underpinned by awareness of cryptocurrency and its adoption across Africa.

Binance CEO Changpeng Zhao recently met with leaders of Côte d'Ivoire, Senegal and Central African Republic; the first African country to adopt Bitcoin as an official currency.

Using the hub, Binance will host in-person blockchain education sessions for crypto enthusiasts and equip them with resources, including internet connectivity.

In addition to networking opportunities, the crypto hub’s primary objective is to train crypto newbies and help them understand the fundamentals of cryptocurrencies, crypto trading, as well as the ability to identify possible scams in order to safeguard their crypto journey.

Carine Dikambi, Francophone Africa Lead at Binance, said, “Africans continue to interact with crypto in very different ways, establishing some of its most important use cases and opportunities for greater financial inclusion. Through the Binance crypto hub, we see a more on-the-ground approach as an essential step in demystifying the concepts, fostering the right understanding of the many opportunities that education, web 3.0 and blockchain ecosystem can bring to Cameroon and ultimately, Francophone Africa.”

The new crypto hub was announced a day after President Paul Biya instructed his government to “identify measures to control cryptocurrency-related activities” as they prepare the 2023 state budget.

Binance claims that since its inception, it has trained at least 600,000 Africans, both online and offline, through its Binance Academy.

Daily newsletter