The leading cryptocurrency trading platform, CryptoLocally, recently announced that it has acquired Finance Bridge Academy, the fastest growing online trading school in Africa. Through this acquisition, CryptoLocally seeks to launch the online training courses of the CryptoLocally African Academy, specialized for users on the continent.
The main objective of this acquisition is to achieve financial inclusion by allowing their users to learn more about cryptocurrencies and crypto trading. The platform pointed out that it started its program in Africa because it found that traditional financial institutions have failed to provide financial services to people.
“Africa is home to millions of tech-savvy young people who are very eager and receptive to technological innovations, especially for innovations that can give them the opportunity to achieve financial freedom and stability,” said Hugo Campanella, co-founder of CryptoLocally.
The acquisition of CryptoLocally is expected to strengthen the impressive crypto flow involved in Africa, in the opinion of many experts in the field.
In Nigeria, cryptocurrency has made a remarkable breakthrough in recent years. According to official statistics, the country traded $ 566 million worth of Bitcoin, the second largest volume in the world. Bitcoin trading traffic has grown by at least 19% per year in the country since 2017.
For Africa as a whole, monthly crypto transfers increased 55% last year. This shows that cryptocurrency is increasingly used as a financial asset, and potentially, a store of value.