Binance is the largest crypto exchange in the world at the moment. The road to reach this position has not been an easy one, but it definitely was successful.
The exchange started as your regular crypto exchange that promised users massive exposure to the most important cryptos.
Now, it became the largest crypto exchange in the world regarding trading volume.
In order to achieve this, it followed a strategy that involved staying away from China.
Although the exchange was founded in Hong Kong, it made sure to keep away from the Chinese mainland and focus on locations which are more crypto-friendly and who are happily riding the blockchain and crypto wave.
Binance launches fiat to crypto exchange in Uganda
Now, Binance announces that it reached to Uganda as well where it established a fiat to crypto exchange.
For now, users can only sign up for their accounts.
The announcement says that the exchange will accept deposits for Ugandan Shillings (UGX), ETH and BTC starting today at 10:00 AM local Uganda time.
The official announcement also reveals that the exchange will be first making trades available with the pairs BTC/UGX and ETH/EGX and the official start time for them has to be released.
Iohk is also getting involved in Uganda. We are going to make an announcement about some really cool things soon
— Charles Hoskinson (@IOHK_Charles) October 15, 2018
IOHK is also getting involved in Uganda
Weiss Ratings company tweeted that Binance will “offer fiat-to-crypto trading pairs through its new Uganda exchange and has been using its influence to spur economic development in Uganda.”
They also said that ADA has a strong presence in Africa and the continent is set to become the next frontier for crypto adoption.
Cardano’s Charles Hoskinson said that “Iohk is also getting involved in Uganda. We are going to make an announcement about some really cool things soon.”
Our crypto analyst has been very positive about ADA from day 1. It would be interesting to talk to you about what your announcement may be, as well as your future plans for ADA. If you're interested, let us know.
— Weiss Ratings (@WeissRatings) October 16, 2018
It looks like big things are in the works at the moment and the cryptosphere is excitedly waiting to see what’s in store.