Binance in Uganda, a subsidiary of Binance, one of world’s largest digital asset exchange, has announced its plans to shut down operations in Uganda, its fiat-to-crypto exchange for Ugandan Shillings (UGX).
Binance in 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 Binance.com offering a greater number of services with UGX, Binance in Uganda will close its operations on November 28, 2020 to centralize its services for Ugandan users on one platform.n
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 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.
Here is the closure calendar:
- 28th October 2020 – Close registrations with the ability to trade and withdrawal both cash and crypto
- November 11, 2020 – All trading activities to cease with the ability to login and withdraw funds in both cash and crypto
- November 28, 2020 – You will not be able to login or access your account and any crypto sent to these addresses will be lost
Currently, on Binance.com 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 Binance.com, 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.
NB: Binance strongly recommend you to transfer your UGX and cryptocurrency holdings out of Binance Uganda by no later than 23:59 UTC on 27/11/2020
This article is sourced from:https://bitcoinke.io