Cryptocurrency exchange Binance has appointed Nadeem Anjarwalla as its director for East Africa to lead business across 12 markets.
Mr Anjarwalla joins Binance at a time more people in the local and regional markets are flocking to the cryptocurrencies and blockchain industry which promises to revolutionise finance and transactions.
Kenya has the largest share of its population with cryptocurrencies in Africa, pointing to the country’s exposure to the ongoing meltdown in the crypto market. A report by the United Nations Conference on Trade and Development says that 8.5 per cent of the population or 4.25 million people own cryptocurrencies such as Bitcoin in the country.
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Binance is a blockchain ecosystem and cryptocurrency infrastructure provider that allows trading.
The Binance platform has a portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralisation and infrastructure solutions, and more.
Mr Anjarwalla is expected to grow the uptake and trading in the region.
“I am proud to be joining Binance at such a pivotal moment in the industry. While still early, the East African region has seen tremendous growth in recent times and I look forward to aiding blockchain adoption and leading the charge that is revolutionising innovation, financial inclusion and economic competitiveness across East Africa,” Mr Anjarwalla said.
The firm says he has vast experience in building and scaling business operations and accessing many industries. Mr Anjarwalla holds a BA in Philosophy Politics and Economics from Oxford University and a MA from Stanford University.