FTX Crypto Exchange Partners With AZA Finance to Grow Web3 in Africa

• Crypto exchange, FTX has announced a partnership with AZA finance, intending to expand Web3 adoption in Africa

• The partnership between both parties will reportedly support the “mushrooming” of the NFT community in Africa

• This comes after Africa was projected to see the fastest growth in mobile money transfer through 2025

FTX, one of the world’s biggest cryptocurrency exchanges valued at $32 billion, has announced that it is partnering with Kenyan company, AZA finance to expand the used digital currencies and Web3 in Africa.

The Hong Kong-based exchange has divulged that it plans to build a digital infrastructure that will connect Africans to the global web3 economy. The partnership was also confirmed by AZA finance in a statement that was released on Wednesday.

AZA is a fintech company that aims to provide seamless payment and access to foreign exchange products for Africans. The company launched Africa’s first digital currency exchange and it has since expanded to more than 10 African markets.

Following the acquisition of payments company, Exchange4Free in 2021, AZA became the largest provider of currency exchange in Africa among non-bank companies.

An FTX spokesperson has disclosed that under this partnership, the crypto exchange will aim for the development of fiat on-ramps. It will also work towards securing local licenses and localizing its current offerings.

Read also: Mark Zuckerberg Breaks Instagram NFT Plans With Development Underway

Both companies will also work towards connecting the African market to the Web3 economy by building products and educating local users on their importance.

As a part of this project, FTX and AZA finance will also make it easier to deposit and payout money in African currencies from FTX.com

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