Binance founder Changpeng Zhao met Sierra Leone President Julius Maada Bio, highlighting the world’s largest cryptocurrency exchange’s continuing efforts to strengthen government relationships and expand its presence across Africa.

Zhao said in a post on X that it was a pleasure to meet Bio and that “crypto adoption continues.” He did not provide further details about the discussions.

The meeting comes as Sierra Leone focuses on economic development, private-sector growth and closing financing gaps under its current national development plan. It is the latest development in Binance’s long-running African expansion, which has combined consumer access with engagement involving political leaders, policymakers, regulators and local financial infrastructure.

Binance’s long-term Africa strategy

Binance’s African strategy dates back several years. In 2020, CZ, then the company’s chief executive, described Africa as a “long play,” indicating an approach centered on building a user base and local relationships over time rather than treating the continent as a short-term trading market. A Chat with CZ – Africa is Strategic and a Long Play for Us, Says Binance CEO

The strategy became more visible in West Africa in 2022, when Zhao visited Senegal and Ivory Coast and met then-Senegalese President Macky Sall and Ivory Coast President Alassane Ouattara. Binance also partnered with Senegalese social-impact hub JokkoLabs on blockchain education and community programs aimed at Francophone Africa. Binance CEO Meets Presidents of Senegal and Ivory Coast in West African Tour

The company subsequently expanded its local-currency and peer-to-peer infrastructure. Binance now supports direct crypto transactions using currencies including Sierra Leone’s leone, the West African CFA franc, the Central African CFA franc, the Kenyan shilling, the Ghanaian cedi, the Ugandan shilling and the Tanzanian shilling.

Its platform also supports local payment methods such as Orange, Wave and MTN, as well as mobile-money services.

Sierra Leone is therefore not simply a new geographic market for Binance. The country is already part of the exchange’s local payments infrastructure, with users able to buy and sell crypto in Sierra Leonean leones through local payment channels. Binance has also held educational programs in the country, including a masterclass conducted with the Sierra Leone government that reached more than 400 people.

That local-access strategy is particularly relevant in Africa, where mobile money, fragmented banking infrastructure and cross-border payments have created demand for alternative ways to move and store value. Binance’s own African expansion material says the company provides direct fiat channels and peer-to-peer trading, in which users transact directly with one another, in more than 30 African countries.

Regulation and financial infrastructure

The regulatory component has also become increasingly important as African governments develop frameworks for virtual assets. In an exclusive 2024 interview with BitKE, Binance’s African leadership said the company was seeking licenses and authorizations across jurisdictions. The progress of those applications is a concrete development to watch as African regulatory frameworks take shape. A Chat with Binance Africa

In 2024, blockchain company Gluwa held discussions with Sierra Leone’s government about digital-currency applications that could extend the reach of mobile money and connect citizens to international financial activity. The discussions demonstrated the country’s interest in exploring blockchain for broader financial infrastructure. Gluwa Visits Vice President of Sierra Leone, Proposes Financial Improvement on Mobile Money Via Digital Currencies

For Binance, the emerging model is broader than establishing an exchange in individual countries. It involves building local payment rails, acquiring users, educating communities, engaging regulators and law enforcement, and maintaining relationships with political and economic decision-makersn
The company’s current footprint reflects that approach. Binance lists Sierra Leone, Senegal, Ivory Coast, Ghana, Nigeria, Kenya, Tanzania, Uganda and numerous other African markets as available jurisdictions.

The timing is also significant for Binance globally. The exchange lost access to the European Union market on July 1, 2026, after withdrawing its application for a Markets in Crypto-Assets Regulation, or MiCA, license. Separately, U.S. authorities are investigating possible sanctions violations involving Iran, allegations that Binance has said it is committed to preventing. Why a MiCA Licensing Setback for the World’s Largest Exchange Matters

Against that backdrop, Africa represents an important market where Binance has spent years establishing local infrastructure and relationships.

Circle partnership and emerging markets

Binance’s latest move involving Circle reinforces its broader emerging-market strategy. The exchange invested $100 million in Circle this month and agreed to a five-year commercial partnership aimed at expanding USDC across its platform, with an emphasis on emerging markets. Why the World’s Largest Crypto Exchange Invested in the Most Regulated Stablecoin Globally

The Circle deal adds stablecoin infrastructure to Binance’s existing distribution network. In Africa, where cross-border payments, remittances, currency volatility and access to dollar liquidity remain significant financial issues, the combination of local fiat access, peer-to-peer markets and dollar-backed stablecoins could make the continent an important testing ground for Binance’s broader global expansion.

The meeting between Zhao and Bio is the latest visible element of a strategy Binance has been building for years, spanning presidential meetings, blockchain education, local currencies, mobile-money integrations, regulatory engagement and stablecoin distribution. Governments in Africa Have Sought My Advice on Crypto Regulation, Digital Asset Policy, Says Founder, Binance