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

On February 13, Binance founder Changpeng Zhao (CZ) stated during an AMA: “I think if you look at all crypto platforms, exchanges, wallets, or any commercial service, Binance has probably put in the most effort in Africa. I’ve visited over 12 African countries, and we’ve gotten feedback—we just want to get as many people into crypto as possible. To be frank, Africa’s per capita GDP is generally lower than other global continents, so business returns in Africa are lower than in other regions. But I firmly believe that if we can empower Africa’s entire population, their economic strength will grow—and in a few years, returns will follow naturally. Plus, Africa offers a unique opportunity: banking penetration here is extremely low—less than 11%, I recall—while smartphone adoption is surging. This means people can skip traditional banks entirely and jump straight into crypto. That’s our core goal. So personally, I think this is a golden opportunity no crypto company or platform should pass up. YZi Labs has also invested heavily in Africa since its early days, and we aim to do even more.”