Binance, the world’s largest crypto exchange by trading volume, has reached a major milestone, surpassing 200 million registered users.

This achievement, announced on June 8, comes nearly seven years since the platform’s launch.

Binance now represents about 36% of the global cryptocurrency user base, estimated at 562 million by Triple-A research.

In perspective, if Binance were a country, it would rank as the eighth-most populous, ahead of nations like Bangladesh, Russia, and Mexico.

Richard Teng, CEO, attributed this success to the community and emphasized the ongoing journey to reach one billion users.

“This achievement is not just about Binance; it reflects the fast-growing crypto adoption which is empowering countless lives, and we’re at the forefront of this transformative technology.

Yet, our work is far from done. The road to reaching a billion users is both a challenge and an opportunity we eagerly embrace,” Teng added.

Notably, this milestone arrived less than three months after the exchange exceeded $100 billion in assets under custody.

At the time, the exchange explained that the continued rise in digital asset prices significantly increased the value of user assets under its management.

Senate has confirmed Emomotimi John Agama from Bayelsa State as the Director General of the Security and Exchange Commission (SEC).

Three other persons were equally confirmed by the Senate as full time commissioners including.

They include Samiya Hassan Usman from Kano State; Abimbola Oyebola Ajomale from Ogun State as well as Frana Chukwuogor from Enugu State.

The confirmation follows the adoption of a report by the Chairman of Senate Committee on Capital Market, Senator Osita Izunaso, during plenary on Thursday.

The Deputy Senate President, Senator Barau Jibrin, who announced the confirmations, affirmed that the appointees were eminently qualified for their positions as they ascertained during the screening exercise.

Moniepoint MFB, Africa’s fastest-growing financial institution according to the Financial Times, has relaunched its personal banking referral program to enrich its customers as they enjoy the Moniepoint experience with family and friends.

The referral program is designed to reward users every time their friends or family perform a transaction on Moniepoint after signing up with their referral link. Through this, millions of people will earn well over N100,000 from referrals alone.

Moniepoint’s technology has powered over 3 million businesses across Nigeria, and with its reliable infrastructure now in the hands of personal users, it now enables seamless payments for many across the country. With referrals linked to transfers, a leading payment method for many in Nigeria, this referral program will provide extra income for many of its users.

Commenting on this development, Babatunde Olofin, Managing Director of Moniepoint MfB, noted that the customer-centric referral program supports the bank’s focus on driving financial inclusion while helping to accelerate its vision of creating a society where everyone experiences financial happiness.

“We know how important seamless financial transactions are, and we’ve seen first-hand the power of peer to peer recommendations and how word-of-mouth referrals can grow a customer base and increase revenue.

“Given our strong customer obsession and the strings of commendations which we have received that validate the work we do in providing peerless financial services, we want to provide our customers with rewards even as they continue to share these positive experiences with the Moniepoint brand,” Olofin said.

Each current and new personal account holder has been provided with a unique referral code which is identical to their account username and is visible in the Referral Section on the Personal Banking app. This code/link can be shared with anyone, who, upon signing up and transacting with the Moniepoint Personal Banking app, will contribute to rewards for the referrer.

For every outward interbank transaction conducted by referred customers in the next 12 months, participants will receive a commission. This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.

Referrers can also track the total earnings and referral history from their referral in the “Earn from Referrals” icon in the app while earnings can be transferred to the user’s main account once a minimum of N50 has been earned.

Moniepoint MFB has worked with the Central Bank of Nigeria to strengthen the security of the banking industry in the past month, pausing its onboarding. It has now resumed signing up users with a commitment to providing its users with a secure, convenient and rewarding financial experience.

The referral program is just one of the many ways the company is innovating to empower Nigerians and make financial services more accessible.

It will be recalled that Moniepoint MFB has in the last few months demonstrated peerless commitment to customer focus and satisfaction as evidenced by the opening of its Lekki Admiralty Road office, as well as the roll out of a USSD code, *5573# which offer users a fast, secure, and user-friendly platform to conduct their banking activities with ease.

According to media reports, Moniepoint Inc. currently processes the majority of the Point of Sales (POS) transactions in Nigeria through its subsidiaries, processing over $182 billion in annualized TPV and as a profitable enterprise, it is Africa’s largest fintech by transaction volume.