Trust, Transparency, and Tech: How Binance Aims to Secure Africa’s Crypto Future
As cryptocurrency adoption accelerates across Africa, Binance’s Chief Compliance Officer Noah Perlman has emphasised the need for robust trust and transparency frameworks to safeguard the continent’s digital finance future.
In a thought leadership article titled “Why Trust and Transparency Will Shape Africa’s Crypto Future,” Perlman argued that while crypto offers transformative potential for financial inclusion, its sustainability hinges on responsible regulation and compliance-driven innovation.
“The narrative that regulation stifles innovation is outdated. I believe the opposite is true: compliance frameworks provide the structure and accountability that allow new technologies to flourish responsibly,” he said.
Citing a 2024 Chainalysis report that found illicit crypto addresses received over €40.9 billion globally, Perlman warned that Africa’s fast-growing digital finance landscape must guard against fraud and misuse. He stressed that without strong regulatory foundations, the promise of crypto in Africa could be undermined.
Binance, one of the world’s largest cryptocurrency platforms, is working closely with African regulators and law enforcement bodies. Under Perlman’s leadership, the company has built Africa-based compliance teams, tailored Know Your Customer (KYC) systems, and introduced biometric verification and AI-driven risk models adapted to local contexts.
In 2023, Binance processed over 2.6 million off-chain alerts, filed more than 51,000 Suspicious Activity Reports (SARs), and responded to more than 58,000 law enforcement requests — a testament to the company’s proactive stance on compliance.
“Africa is not a monolith; each country has unique legal systems and enforcement dynamics. Compliance must be localised and agile,” Perlman said.
The company is also investing in capacity-building through workshops and training for police, regulators, and financial intelligence units across the continent.
Perlman’s vision for Africa’s crypto future is rooted in transparency, education, ethical leadership, and ongoing collaboration between regulators and industry players.
“Africa stands at a crossroads, with the chance to lead in the digital financial revolution. But leadership requires more than technology. It requires integrity, partnership, and a steadfast commitment to doing what’s right for users and regulators alike.”
