KAMPALA, UGANDA— October 27, 2020 — Binance, the global blockchain company behind the world’s largest digital asset exchange, today announced the upcoming closure of Binance Uganda, its fiat-to-crypto exchange for Ugandan Shillings (UGX).
Binance Uganda was the first fiat-to-crypto platform launched by Binance in June 2018 to allow users in Uganda to access cryptocurrencies with UGX and spearhead greater services throughout Africa. With Binance.com offering a greater number of services with UGX, Binance Uganda will close its operations on November 28, 2020 to centralize its services for Ugandans users on one platform.
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Binance Uganda will close registrations and all new deposits of UGX and cryptocurrencies on October 28, 2020 at 08:00 UTC. Users will still be able to trade all available crypto pairs and withdraw their UGX and cryptocurrencies.
All trading services will close on November 11, 2020 2020 at 23:59 UTC. It is anticipated that the hard shut-down of the Binance Uganda platform will be November 28, 2020 at 23:59 UTC. After the hard shut-down user accounts will be inaccessible.
Currently, on Binance.com Ugandan users are able to deposit and withdraw UGX and buy cryptocurrencies (BTC, BNB).
Binance remains committed to providing secure and quality crypto services to our Ugandan users. Through this alternative channel on Binance.com, users will be able to access higher liquidity, more expansive withdrawal and deposit limits and a more seamless KYC process.
Other Binance fiat and crypto channels, products and services in Africa remain active and available – including fiat on ramps in Nigeria and South Africa and Binance P2P in Kenya, Nigeria and South Africa. Binance remains dedicated to providing products and services to the African market.
About Binance
Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com
Disclaimer: This post is a press release.
The post Binance Uganda to Close Operations to Consolidate and Offer More Services through Binance.com appeared first on BlockNewsAfrica.
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