CZ: The African Market is a Golden Opportunity That Any Crypto Platform Should Not Miss

BlockBeats News, February 13th, Binance founder CZ stated in an AMA:

I think if you look at all the crypto platforms, exchanges, wallets, etc., or any commercial platform that has put in the most effort in Africa, it's probably Binance.

I have been to over 12 African countries, and we have received some feedback, we just want to get as many people into cryptocurrency as possible.

Frankly speaking, Africa's GDP per capita is generally lower than other continents in the world, so the business returns in Africa are lower compared to other regions.

But I firmly believe that if we can empower the entire population of the African continent, their economic power will grow, and in a few years, the business returns will naturally come. Additionally, Africa provides a very unique opportunity: the banking penetration rate here is very low, I remember it's less than 11%; at the same time, smartphone penetration is rapidly increasing. This means that people don't need to go through banks and can directly enter the world of cryptocurrency. This is our true idea.

So, personally, I think this is a golden opportunity that any crypto company or platform should not miss. YZi Labs has invested heavily in Africa since the early days, and we want to do more.