By
Steve Muchoki
May 10th, 2024
To encourage more women to join the industry, Binance plans to provide women with all the educational resources they need to shape their financial futures and become active participants in the crypto space.
Binance, the world’s leading crypto exchange by market volume, has taken a novel approach by blending the worlds of finance and fragrance. The company has launched a luxury perfume called “CRYPTO” to entice more women to join the industry.
According to a shared press release, the move is part of Binance’s strategic campaign to celebrate International Women’s Day and promote greater inclusivity in the space.
Binance Launches Crypto Campaign for Women Inclusivity
The crypto industry is currently dominated by men, with only about 4.5% of the top 121 companies in crypto founded by women, as reported by Forbes on January 24, 2023.
Additionally, women make up only about 10% of partners in crypto investment firms. This lack of women’s involvement in crypto investing spans across all age groups and can be attributed to ongoing gender imbalances in the financial sector, societal norms, individual risk preferences, and the perception of the crypto space as being male-oriented.
However, Binance aims to change the narrative and close the gap with the launch of the CRYPTO fragrance campaign to bring more women to learn about the industry and take up roles to bolster the emerging economy. The fragrance was orchestrated by the company’s female marketing leaders.
The exchange has taken a creative approach to promoting the CRYPTO fragrance, starting with a series of luxury advertisements designed to intrigue and captivate the public. These ads, reminiscent of beauty campaigns, aim to disrupt traditional perceptions of crypto and attract more women to the industry.
Binance to Give $25 to 5000 Women
Binance upped the marketing game further by getting a physical stand in a shopping mall. This move, documented in a new video released earlier this week, was more than just a playful stunt. The company sees it as a deliberate attempt to directly engage with the public and change perceptions about crypto, particularly among women.
“Bold, distinctive, and deliberately disruptive, CRYPTO isn’t a scent we’re marketing — it’s a message to women that they have a significant role to play in the crypto revolution,” says Rachel Conlan, the chief marketing officer at Binance.
In a personal reflection on her experience in the crypto industry, Conlan acknowledged the significant contributions of women who have ventured into the industry. She also encouraged women to stop being bystanders and become part of the crypto bandwagon.
“ We’re here to tell women everywhere: Don’t be a bystander. Break those glass ceilings, challenge existing narratives and become part of this digital transformation that’s set to redefine global finance,” Conlan said.
To encourage more women to join the industry, Binance plans to provide women with all the educational resources they need to shape their financial futures and become active participants in the crypto space.
Furthermore, the exchange plans to reward the first 5000 women who sign up and begin their crypto education journey. Binance said it will give $25 each to the women embracing crypto for the first time.