Binance CEO Changpeng Zhao discussed his company’s Middle East and North Africa — commonly referred to as MENA presence in an ask-me-anything (AMA) session published on April 6.
Zhao described the region as business-driven and noted rapid growth, writing: “I think when I first came to Dubai, there were maybe half a dozen crypto companies. Today, there are probably more than 700.”
He also described the state of blockchain in Africa, explaining he sees potential in that region due to financial exclusion and a lack of bank access among its citizens.
He added that, looking back, Binance should have engaged with MENA regulators earlier, made education efforts sooner, and come to the area at an earlier date.
Zhao added that he is personally based in the MENA region and is “not just visiting.” He said that the area is often misunderstood by the West and called its residents “very humble, very business-driven, very reasonable, and very friendly.”
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