Binance Uganda website announced that is closing its operation even though it was the first fiat-to-crypto platform launched by Binance in June 2018, allowing users in Uganda to access cryptocurrencies with UGX and spearhead crypto services throughout Africa.
The world’s leading cryptocurrency exchange, Binance.com (www.binance.com), now offers its users the ability to deposit UGX through its payment channels on Binance.com. Binance remains committed to providing secure and quality crypto services to 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.
With Binance.com offering a greater number of services with UGX, Binance Uganda will close its operations to centralize its services for Ugandans users on one platform.
The closing of the Uganda exchange will take place in three distinct phases starting on October 28th then on November 11th all trading activities on Binance Uganda will cease, and on Novbemer 28th the hard shutdown