Binance Announces Support For New African Currencies Without Third Parties

Users from Liberia, Sierra Leone and more can now directly utilize their local currencies to buy and sell bitcoin through Binance P2P.

Cryptocurrency platform Binance has announced that its peer-to-peer (P2P) marketplace will now support more African currencies, including Liberian dollar (LRD), Sierra Leonean leone (SLL), Gambian dalasi (GMD), Mauritanian ouguiya (MRO), and Cape Verdean escudo (CVE). 

Users in these regions can now transact with other users in their local currencies without a third party or intermediary. Users can also trade and post trade advertisements in the newly supported currencies or directly trade BTC with other users at zero fees.

Director for Binance in West and East Africa, Nadeem Anjarwalla, said, “Binance has continued to remain committed to increasing the adoption and mainstream accessibility of crypto, and we are excited to be taking this step in making access to digital assets effortless for more Africans."

In addition, users who frequently receive cryptocurrencies, as well as LRD, SLL, GMD, MRO, and CVE, can now become merchants on Binance P2P. According to the press release, this will enable them to receive exclusive customer support, verified badges and access to advanced trading tools. Merchants also enjoy VIP discounts and zero fees on the platform. To apply, users can visit the Binance P2P website.

By providing access to broad financial tools while maintaining one of the lowest fees in the business, Binance aims to make crypto accessible to everyone in Africa and beyond.