Binance Launches Its First Fiat-Crypto Exchange in Uganda

Major international crypto exchange Binance has announced that its fiat-to-crypto exchange will open in Uganda this week, the company reveals Monday, Oct. 15.

Major international crypto exchange Binance has announced that its fiat-to-crypto exchange will open in Uganda this week, the company reveals Monday, Oct. 15.

CEO and founder of Binance, Changpeng Zhao (CZ), had told Cointelegraph in an exclusive interview in June of plans to open the Ugandan crypto-fiat exchange.

As per Binance Uganda’s press release, the new branch will officially start accepting deposits and withdrawals of Ugandan shillings (UGX) Wednesday, Oct. 17. Binance Uganda notes that exchange has already begun its know-your-customer (KYC) procedures.

An additional press release reports that Uganda’s national fiat can only be traded with Bitcoin (BTC) and Ethereum (ETH), but that the exchange is planning to add more pairs soon

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