Binance sponsors African Cup of Nations: Everybody wins in this tournament

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The African cup of Nations is one of the premium football events in World football. It is a tournament that has all the top African countries competing for the title of the best footballing national team in the continent.

The competition is held every two years and has a very large audience. Just like the Euros and World cup, the tournament host changes from one country to another.

The AFCON competition is viewed by millions of football enthusiasts from around the World. This recent event, hosted in Cameroon has had the spotlight on African football but something else caught my eye.

While watching my country Nigeria decimate Sudan in our match today, I noticed that the advertisement billboard had a familiar face in the crypto world.

Yup, it was Binance exchange taking a bold step to market at one of the biggest sports events in the world.

The Afcon is only slightly edged out by Copa America and is the fourth most-watched Nationa team tournament in the World. The fact that Binance actually won this bid is pretty huge.

Crypto in Africa

There's no doubt that Africans love crypto. Data has proven that Africans are amongst the most advanced in terms of adoption.

Nigeria, for example, despite having anti-crypto laws still ranks as one of the highest countries in the world for crypto trading volume.

In many other countries spread across the African country, the sentiments for crypto are largely positive. I guess that is why it comes as no surprise that a crypto company got approved to advertise in such a huge tournament.

I feel like having Binance as one of the official sponsors, cements the company's place in the continent. However, this move also cements crypto's place in the continent as a whole.

Having Binance as a sponsor is the equivalent of the continent saying "hey guys, we trade crypto over here and we use Binance".

Naturally, it is about money and Binance won the bid. However, in the general scheme of things, it is still a win for the crypto industry.

Kucoin, Huobi, and many other exchanges will be looking at Binance and thinking, "hey, why couldn't that be us?"

So the cascading effect will be a straight-up battle for dominance in the African scene. The companies will make a profit because that's how capitalism works but at the same time, it will be pushing crypto into the faces of many and hopefully, that will be enough to make the government of Nigeria reconsider its stance.

Africa is fertile ground for the growth of the crypto industry. For starters, many of us in the continent are already used to providing everything for ourselves and not getting any "protection" from our government, so throwing us into the deep end of a decentralised financial system isn't hard.

Speaking of financial systems, many African countries operate with somewhat simple and crude financial systems that make it infinitely easier to onboard and exit from crypto.

We also don't have complicated tax policies and all that type of stuff that could contribute to the difficulties of trading crypto. In most countries, you simply just put in money and start trading, with no tax policies and barely any forms to fill.

In summary

Binance advertising at the AFCON is a big statement for the crypto industry as a whole.

The fact that a crypto company got the rights to advertise at the most televised event in the entire continent speaks volumes.

People in Africa are interested in crypto and whether the governing bodies like it or not, crypto will be huge in the continent.

Are they going to get onboard like the president of El Salvador or will they be kicked to the side? Regardless of what decision they make, crypto adoption will go to the next level and will offer Africans some respite from our ailing financial system.

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6 comments
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it will be pushing crypto into the faces of many and hopefully, that will be enough to make the government of Nigeria reconsider its stance.

Those hardened soul don't think about anybody else but themselves.

They can reverse their ban on crypto if and only if it's going to benefit them massively than its citizens.

I believe Twitter being back to how it was before is a political move to use it to their own benefit, I won't be surprised if they ban Twitter again after election.

Without much Ado, this is a big move from binance, they saw what others(kucoin&huobi) can't see. There's a huge need for crypto in Africa more than anywhere else.

Just seeing binance on African tv alone self nah another joy 😊.

Crypto ban even helps give room for p2p so it's all a win/win situation for everyone.

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You're right about the government though. It's a sad reality.

Binance is huge in Africa, and with this move, they're just trying to cement their place.

Really excited about where crypto industry leads us to in the near future.

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Slow and steady crypto is becoming main stream 👌

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It's good to see things like this happen, and yes volumes are involved plentiful. Due poor economy many accept strange things just to make additional money or a living, that's how Nigwria is, we just wouldn't give up easily.

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I'm not surprised by this moves, CZ is one of the smartest person have seen. He knows all eyes will be on afcon because of our love for football in Africa and using this platform to advertise crypto is a nice move I must say.

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