West African country Côte d’Ivoire seems to be diving into the crypto ocean. On Tuesday, the president Alassane Dramane Ouattara met with the founder of the biggest crypto exchange in the world, Binance, Changpeng Zhao. CZ reportedly proposed to include crypto activities on commercial exchanges in the country.
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The head of state has an interview with the Binance founder at the Palace of the Presidency of the Republic, focused on the economic and financial issues related to digital assets.
CZ urged the support of President Ouattara and the government for the integration of crypto activities in commercial exchanges in Côte d’Ivoire. Notably, being the world’s leading exporter of cocoa and raw cashew nuts and a net exporter of oil, Côte d’Ivoire is the largest economy in the West African Economic and Monetary Union.
It should be mentioned that the interview included participation from the Secretary-General of the Presidency of the Republic, Mr. Abdourahmane CISSE, the Minister of Economy and Finance, Mr. Adama COULIBALY, and the Deputy Secretary-General of the Presidency of the Republic, Mrs. Masséré Toure- Kone.
Massive surge in African investors
As TheCoinRise reported in September last year that crypto adoption in Africa surged by over 1,200% in 2021. Several crypto companies and crypto entrepreneurs see the potential for massive crypto adoption in the region. Not only this, the shocking news came recently when the Central African Republic decided to quietly adopt Bitcoin as its legal tender after El Salvador. Moreover, as we reported, the government has recently launched the crypto hub project Sango on July 3 to accelerate crypto adoption in the country.
While Binance bowed to regulatory pressure from the South African region last year and halted its futures trading service, it seems like the exchange is aiming to expand in the West African crypto market.