The Binance exchange platform has concluded a partnership with the African Cup of Nations for the edition initially planned for the year 2021 postponed to 2022. It thus confirms its desire to be a pioneer in the development of cryptocurrencies on the African continent.
Binance partners with CAN
On its blog, the Binance platform announced that it has become an official partner of the 2021 African Cup of Nations (CAN).
Indeed, the 2021 cup has been moved to 2022 due to the Covid-19 pandemic. The tournament kicked off on 9 January at the Olembe stadium in Yaoundé, where the teams from Cameroon and Burkina Faso competed. The tournament will officially end on 6 February 2022.
Binance becomes the exclusive cryptocurrency sponsor for the CAN, giving itself prime publicity. Indeed, more than 160 countries around the world are broadcasting the tournament’s matches, hosting more than 300 million viewers.
Commenting on the partnership, CAN Secretary General Veron Mosengo-Omba said:
“I am very proud of the partnership with the CAN.
I am delighted to welcome Binance as an official sponsor of this year’s CAN tournament. Through this partnership, Binance will further connect with its users and the African community through football. CAN is ready to embrace blockchain technology and the impact it will have on the development of African football. “
Binance continues its expansion in Africa as since 2020, the platform has provided free blockchain courses to over 540,000 Africans.
Africa and cryptocurrencies
According to the Chainalysis report on the geographical study of crypto-currencies over the year 2021, we can read in the chapter on the African continent that Africa sees only 3% of the world’s crypto-assets transit through its territory.
However, there is a bullish average over the course of 2021.
Total value of cryptocurrencies transiting Africa over 11 months (Source: Chainalysis Report)
Not only has the African crypto-currency market grown by more than 1,200% over this period, but Africa also has one of the highest crypto-currency adoption rates in the world.
There is also a certain peculiarity in the way cryptocurrencies are used in Africa. Whether it is bitcoin (BTC) or altcoins, Africans are the most peer-to-peer crypto asset owners in the world.
Percentages of peer-to-peer cryptocurrency transactions worldwide (Source: Chainalysis Report)
The partnership between the Binance platform and the African Cup of Nations therefore seems to fit the bill and this agreement confirms the interest of officials from various countries on the continent in cryptocurrencies.
Cryptocurrency platforms and sports
Just a few days ago, blockchain company Tezos (XTZ) signed a sponsorship deal with e-sports team Vitality.
At the end of December, the FTX exchange signed a deal with Monumental Sports & Entertainment, one of the biggest sports organisations in the US.
We also remember the colossal 700 million dollar contract signed by the Crypto.com platform for the right to rename the mythical Staples Center in Los Angeles, among other things.
The sports world thus seems to be a choice ally for the various cryptocurrency platforms, which see it as one of the best ways to expand their user base.
