The exchange rolled out its One Click Buy and Sell, or OCBS service in Africa, targeting users in Ghana, Tanzania, Uganda, and Zambia.
As one may figured it out from its name, the service will offer a one-click buy and sell feature for users
Binance expands its reach in Africa
Last week Binance announced the launch of its OCBS feature in several African nations, including Ghana, Tanzania, Uganda, and Zambia.
This new service allows users in these countries to buy and sell cryptocurrencies through their mobile money accounts without any inconvenience. And there are lots of people with mobile money accounts.
“With the introduction of our OCBS feature, users can now easily purchase and sell crypto assets directly from their mobile money accounts.”
Partnership with Transfi
The integration of mobile money into Binance’s global fiat on-ramp/off-ramp services was developed in partnership with Transfi, and for Binance, this development represents a major step forward in their efforts to simplify and expand access to digital assets, thus, acquiring more customers.
Security and financial inclusion
Binance placed a strong stance on security, implementing the strict Know Your Customer, or KYC protocols and other protective measures to ensure that users’ assets are safeguarded in compliance with regulatory standards.
As they say, this initiative is designed to promote financial inclusion for Africa’s unbanked and underbanked populations, aligning with Binance’s own mission to increase financial freedom on a global scale.
“This move is a vital step in our continuous mission to democratize access to cryptocurrency and financial services. By integrating mobile money into our platform, we aim to support financial inclusion and enable more individuals to participate in the digital economy.”
In this way, Binance provides a practical solution for millions of Africans who rely on their phone, and mobile money accounts as their primary connection to the web, and as primary financial tool, offering them an entry point into the global economy.
