Binance launched the fiat-to-crypto exchange today in Uganda, called Binance Uganda. The platform is committed to processing both deposits and withdrawals of Ugandan Shillings. As Binance continues its phenomenal growth and dominance of the cryptocurrency markets, Binance Uganda represents the first official fiat-crypto exchange the company has launched.
The exchange has the capability to perform an extraordinary 1.4 million transactions per second, according to Bitcoinist.
Binance, through its commitment to driving greater financial inclusion, has exempted all users from paying any fees in the first month where Ugandans can trade Ugandan Shilling (UGX) pairs with Bitcoin and Ethereum.
Wei Zhou, the Binance CFO told Bitcoinist:
“We are extremely proud to officially launch our first fiat-crypto exchange in Uganda,” and noted, “This is only the first step in our efforts to use blockchain technology to support sustainable economic development in Africa.”
Great work Binance.
This excerpt/article was sourced from Bitcoinist. For the full article, please click here.