FTX Eyes Web3 Expansion in Africa in New Deal with AZA Finance

FTX Eyes Web3 Expansion

Cryptocurrency derivative exchange FTX has teamed up with AZA Finance to expand the next generation of internet, web3, in Africa.

The collaboration focuses on fiat currency deposit and withdrawals, training and networking resources, and the launch of African digital currency trading pairs.

The two organizations also aim to onboard African NFTs creators in the FTX marketplace as part of the deal to expand sector adoption in the region.

Aza Finance, founded in 2013 as BitPesa, is one of the earliest cryptocurrency firms in the continent. 

The company’s CEO and founder, Elizabeth Rossiello, notes that the company will continue to partner with state agencies to have the relevant regulations in place. The firm aims to advance even as the regulatory framework continues to lag in the region.

Rossiello adds that the firm, licensed by multiple central banks across different continents and the Financial Conduct Authority, aims to expand the offering in the region through the deal.

Source: The Block

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