FTX, a digital currency exchange, announced a partnership with AZA Finance for adoption of Web3 and digital currencies across Africa
FTX & AZA Finance Partnership
FTX, a worldwide digital currency exchange, established a partnership with AZA Finance to increase Web3 and digital currency usage across Africa. Together, they will spearhead efforts to connect the Web3 economy to Africa’s inevitable growth. Sam Bankman-Fried launched FTX, a global cryptocurrency exchange. The firm is a market leader in the digital currency space, having recently announced the completion of a $400 million Series C investment round, boosting the company’s worth to $32 billion.
The track record of AZA Finance in Africa, as well as the experience of Rossiello and her team, motivated FTX to form the relationship, according to Sam Bankman-Fried, CEO and Founder of FTX. He says that such a collaborative agreement will almost certainly assist his organization in expanding its footprint throughout Africa.
A separate research examined why bitcoin and altcoins have become such popular financial instruments throughout the continent. According to the findings, approximately 70% of local investors entered the market in order to offer a better living for their family. Around 50% of respondents used digital assets to support their children’s future education, while 43% used cryptocurrency to construct a fund to pass on to their family. Only 3% claimed to having no strategy for dealing with the asset type.
Quotes
Sam Bankman-Fried, CEO and Founder of FTX, said: “We’re excited to partner with AZA Finance to further expand our presence on the continent. We chose to partner with Elizabeth and her team because of the incredible work they’ve done across Africa. We look forward to working closely with them, and the local regulatory bodies, to bring all of our products and services to the African market in a compliant way. Additionally, we look forward to doing our part locally by supporting efforts by artists & creators in the community.”
Elizabeth Rossiello, CEO and founder of AZA Finance, added: “We are thrilled to be working with FTX and to help them grow across the African continent. Sam’s leadership, and his commitment to ethical expansion within Web3, is exceptional. As we built Africa’s largest platform for trading African currencies, one thing has been clear – that this continent is the future of global, digital economies. After serving these booming enterprises for years, we know that the next generation of users, creators & builders for the Web3 economy is undoubtedly African. And as one of Africa’s first fintechs, operating for over 8 years with a team of more than 200 people from Dakar to Lagos to Kampala, we have the deepest knowledge on how to build a truly continental platform. We look forward to supporting FTX’s mission to bring Web3 truly worldwide.”
