Saturday, December 3, 2022
  • LBank announced the establishment of their new crypto investment fund that targets web3 development in Africa
  • LBank has pushed several educational efforts in the MENA region for some time and currently has community managers in Nigeria, Ghana, and Tunisia
  • Africa’s crypto ecosystem has radically improved and is still steadily growing. LBank is but one of the many crypto exchange platforms gunning for Africa

As the year draws to a close, the crypto market and adoption rate appear to be taking different turns. Most crypto exchange platforms have suffered from the recent FTX fall, causing various cryptocurrencies to devaluate severely. On the other hand, there has been multiple collaborations between crypto and various services.

Companies such as Google Cloud and Mastercard are still in progress, shedding a ray of hope for cryptocurrency. Among all this chaos and confusion, Africa’s crypto ecosystem still appears firm and unshaken. This core belief and strive for technological improvement have inspired many. For instance, the LBank, a leading crypto exchange platform, has set its eyes on Africa to improve its web3 development further. This is a surprise, especially during the massive crypto meltdown.

Is Africa so fortunate? Or is it simply the tough skins on this continent that allows its various crypto traders to continue to pursue their dreams and visions for a better tomorrow?

Who are LBank

LBank is a Hong Kong-based crypto exchange platform that initially focused on the Chinese crypto market before going global. Like any other exchange platform, it offers clients from around the world crypto-to-crypto trading pairs for various digital assets.

Allen Wei founded the blockchain startup in 2016 to provide global users with professional crypto asset management solutions. In an interview with Crypto TV, Allen stated that the core motivation behind his crypto exchange platform was to give back to the people and provide financial freedom. Web3 development offers a whole new way of thinking dynamically. Due to its unventured state, it gives the perfect platform for innovators, thinkers and leaders.

LBank

LBank, a leading crypto exchange platform, sets its sights on Africa’s crypto ecosystem to boost its Web3 development and blockchain startups.[Photo/CrunchBase]

Currently, LBank has a $1 billion daily trading volume and is one of the few crypto exchange platforms that advocate for the development o new blockchain startups. It hosts up to 6.4 million registered users spread all over the globe in over 210 countries and regions.

The success behind LBank is its consistent zeal to reach out to other continents and establish relations. Since its launch, Allen and his team have steadily grown, hoping to promote Web3 development to its country and its users.

Like many other exchange platforms, LBank also has its own proprietary web0based trading platform. It operates on a straightforward mechanism boosting its user-friendliness. In addition, it has incorporated various advanced tools and features such as technical analysis indicators, MACD, KDJ, RSI, and CCI.

LBank supports more than 40 different cryptocurrencies traded in various crypto markets, and its most favourable feature is its low gas fee. The maker-and-taker costs have a flat fee of 0.10% per trade. A fantastic deal when most crypto exchange platforms are charging at least 0. 20%. These key features have contributed significantly to its steady growth.

LBank in Africa

With the steady growth of Africa’s crypto ecosystem, plenty of crypto exchange platforms have lined up o be around such potential. Recently, LBank announced the establishment of their new crypto investment fund that targets web3 development in Africa. Allen made this decision in a prior interview stating that Lbank had plans to expand their franchise to various African countries such as Nigeria, South Africa, the Middle East and India.

As a show of goodwill, a new member, Czhang, a representative of LBank Labs, will pioneer this venture. Chang is currently visiting many countries in North Africa, and according to him, Africa’s crypto ecosystem is astounding. The future of blockchain startups and technology is in Africa, and web3 development is more advanced than most people think. LBank labs hope to provide the necessary support for local communities and give local blockchain startups the push they need to get off to the skies.

LBank has pushed several educational efforts in the MENA region for some time and currently has community managers stationed in Nigeria, Ghana, and Tunisia. According to their reports, Africa’s crypto ecosystem has thrived mainly due to the diverse nature of its land and people. The consistent building of more blockchain startups would directly influence additional crypto traders to join the bandwagon advocating for Web3 development.

This crypto exchange platform focuses on providing the necessary facilities to aid additional Africans in understanding blockchain and, eventually, Web3 development.

Conclusion

Africa’s crypto ecosystem has seen improvement upon improvement and is still steadily growing. LBank is but one of the many crypto exchange platforms gunning for Africa. The crypto winter might have allowed Africa to expand its reach even further. Will this be a sign that the despite the hurdles and turmoil, Africa will still prevail through its numerous blockchain startups? Will it finally find the platform necessary to realise Web3 development fully?

Read: Africa’s cash app, BitSika, striving to reach the top

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