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Binance Explores Nigeria, Announces Lab Director and Business Activities in Nigeria

It is not news again that Binance has been planting it’s feet in Africa. Recently, Binance announced it’s lab director for Lagos and what to expect.

Yele Bademosi who is a founding partner of Microstation, one of the biggest Venture Capitalist Companies in Nigeria,known for products like Cowrywise and Wallet.ng

On a medium post, Binance said “Today, we are thrilled to welcome Yele Bademosi to the Binance Labs team. Based in Lagos, Nigeria, Yele will focus on developing the blockchain ecosystem in Africa, as well as sourcing blockchain projects and leading the Lagos chapter of our Incubation Program, a 10-week incubator beginning in March designed to help entrepreneurs deliver products with clear product-market fit.

Yele is passionate about blockchain adoption at a global level, sharing: “On a high level, my mandate is to leverage blockchain to accelerate Africa’s transition to a sustainable and developed economy. I believe very strongly that blockchain adoption will come from frontier markets that will leapfrog the existing financial systems as well as governance and economic models.”

Yele’s thesis at Binance Labs will be on two key areas:

  1. To create trustless governance, economic & financial systems for Africa;
  2. To enable capital formation and efficient capital markets.

Prior to joining Binance Labs, Yele founded Microtraction, one of Africa’s top angel funds based out of Lagos, and backed by African and global investors, including Michael Seibel, CEO of Y Combinator, and Pave Investments, an African multifamily office. Yele has also made several investments in African startups, across sectors like crypto and financial services, and brings deep experience building startups from the ground up.

At Binance Labs, we believe in realizing the full potential of blockchain technology. Since our launch, we have invested in 21 blockchain startups around the world, and incubated a strong batch of projects last season.

We are excited to have Yele part of the team, to expand our global footprint and our network of blockchain developer teams!”