It has been a long time waiting but its finally here.
The first Binance fiat crypto exchange – Binance Uganda!
Some of perks for the first 20, 000 users will include a 0.5BNB reward and one month of zero trading fees once trading commences online. Users must submit ID verification documents to be eligible for the promotional reward.
Binance Uganda – The First Fiat Crypto Exchange
The announcement comes about a month after Binance announced, during the Africa Blockchain Conference 2018, held in Uganda, Kampala, that it will be opening the first fiat-crypto exchange in partnership with Stanbic Uganda.
Speaking to Cointelegraph, CZ said:
“Uganda [is a] really interesting situation, only 11 percent of the population has bank accounts. It’s both a challenge and an opportunity. So it may be easier to adopt cryptocurrency as a form of currency instead of trying to push for bank adoption. It’s an interesting experiment – Africa’s a big market, that’s why we’re there.”
During the Africa Blockchain Conference, the CEO of Binance, ChangPeng Zhao, expressed great promise in the exchange and vowed to support other initiatives in the country in order to push for the adoption of blockchain in the country and on the continent.
Patrick Mweheire, CEO, Stanbic Uganda, also expressed optimism in the blockchain and promised to implement it in the bank’s activities.
Binance is currently one of the largest cryptocurrency exchanges by daily trade volumes, seeing $789 million in trades in the 24 hours to press time, according to Coinmarketcap