Reading Time: 2 minutes

Press Release: Wednesday, October 28 2020, 12:00 CAT | Source: Binance

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 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.

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 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, 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.

— – – – – – – – – – – – – – – – – – –

This article is a Press Release received from Binance. Global Crypto did not receive any form of compensation for its publication, and as this material is deemed newsworthy for the Southern African blockchain industry, it was thus published accordingly.

Kratika is Global Crypto's Admin Assistant. She has extensive experience working for top tech firms from around the world, and has a wealth of knowledge in the FinTech industry.