The President of Côte d’Ivoire (Ivory Coast), Alassane Ouattara, met with Changpeng Zhao, CEO of Binance, the biggest crypto exchange in the world to discuss the "economic, financial and regulatory" implications of crypto in Western Africa.
<h2>CZ Believes Africa is "Primed for Crypto Adoption"</h2>
On Tuesday, July 5, 2022, at the Palace of the Presidency of the Republic, the President of Ivory Coast, Alassane Ouattara, met with <a href="https://www.cryptoknowmics.com/news/binance-ceo-changpeng-zhao-holds-same-amount-of-bnb-and-btc/" target="_blank" rel="noopener">Changpeng Zhao</a>, the founder, chairman, and CEO of Binance to discuss economic, financial, and regulatory concerns around bitcoin access.

https://twitter.com/AOuattara_PRCI/status/1544444749775527938

During this meeting, Zhao urged the government to include crypto-related activities in commercial exchanges in the region. Issues about the economy and crypto were also discussed during the meeting.

It should be noted that Binance already entails a prominent presence in the region, and the latest move is expected to elevate its existence in the area further.

https://twitter.com/cz_binance/status/1544338829775032320

After meeting the President, CZ took to <a href="https://twitter.com/cz_binance" target="_blank" rel="nofollow noopener">Twitter</a> to say that Africa is primed for crypto adoption. He highlighted the growing need for financial access and inclusion in the region with a population of only 10-20% banked. In the end, he said that Blockchain could provide that with a smartphone.

https://twitter.com/cz_binance/status/1544471882673659904
<h2>Africa Becomes Growing Hub for Crypto Industry</h2>
In recent years, Africa has been a hub for the crypto industry as more nations on the continent have embraced a pro-crypto stance.

Earlier last month, the <a href="https://www.cryptoknowmics.com/news/central-african-republic-car-launches-its-cryptocurrency-sango-coin/" target="_blank" rel="noopener">Central African Republic</a> adopted Bitcoin as a legal tender, becoming the second country in the world and the first in Africa to do so. Uganda is also now mulling the idea of a CBDC pointing at a steadily growing interest in cryptocurrency in the continent.

Data also points to an increased interest in cryptocurrency in African countries. According to an October 2021 report from blockchain analysis firm Chainalysis, Africa's cryptocurrency market grew by over 1,200 percent in a year between 2020 and 2021, with $105.6 billion worth of cryptocurrency received between July 2020 and June 2021.

Binance CEO, President Of Côte d’Ivoire Discuss Crypto Adoption in Africa

The President of Côte d’Ivoire met with Binance CEO to discuss the "economic, financial and regulatory" implications of crypto in Africa.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Binance CEO, President Of Côte d’Ivoire Discuss Crypto Adoption in Africa

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