Binance Launches The First Crypto-Fiat Couple In Uganda

After a registration process lasting about four months, Binance will finally offer crypto-fiat trading pairs through its new exchange in Uganda.

Ugandans are now able to present documents of identity and begin to Deposit Fiat before the real trading, which is expected to begin in two weeks.

Binance will initially allow verified users to trade Ugandan shillings for Bitcoin and Ethereum, but promises to add more cryptocurrency pairs in the future.

Wei Zhou, CFO of Binance, called trading pairs “innovation “and commented that they are the” first step “of his efforts to use blockchain technology to support sustainable economic development in Africa.”

Binance is the most popular online cryptocurrency exchange that uses its influence to stimulate Uganda’s economic development.

The initiative aims to use blockchain as a basis for potential startups whose goal is to improve the lives of ordinary Ugandans.