FTX, a global cryptocurrency exchange platform, has partnered with AZA Finance, a cryptocurrency-focused payment company, with the aim of developing Web3 in Africa, we learned on Wednesday March 16 from reliable sources. This agreement should allow the two entities to operate five key areas.
This should include offering support for deposits and withdrawals using African fiat currencies on the global FTX platform. The partnership, it is said, will help improve Africa’s Web3 infrastructure while creating useful learning and networking resources for participants in the region. FTX and AZA Finance also plan to launch African digital currency pairs.
“We have strict controls and are now approved by central banks and financial conduct authorities on three continents. We look forward to partnering with FTX to further expand its presence in Africa,” said Elizabeth Rossiello, Founder and CEO of AZA Finance.
AZA Finance, formerly BitPesa, was founded in Nairobi, Kenya in 2013. It is the latest African crypto and payments company to attract interest from FTX in the latter’s drive to establish a footprint on the continent. .
For its part, FTX was created just over two years ago, in May 2019 and now boasts a daily trading volume of USD 14 billion on its platform. In November 2021, the platform led a $150 million Series C extension for African remittance unicorn Chipper Cash.
Source: Financial Afrik