Binance Expands to Africa, Launches First Fiat-to-Crypto Exchange in Uganda

Binance is looking to expand its user base with the launch of its first crypto-to-fiat exchange in Uganda.

Experts have reported that African countries have seen an upsurge in cryptocurrency adoption and Binance, which is on an expansion spree, seeks to draw these users to its new exchange in the East African country.

The company has announced that it has officially opened registration for Binance Uganda and opening of trading will be announced at a later date.

Binance also announced a reward of 0.5 BNB for the first 20,000 users to register on the new exchange.

“The total rewards for this promotion are strictly limited to 10,000 BNB, and will be distributed on a first come first served basis,” the announcement read, adding that users will also be provided with a month of Zero trading fees once trading begins on the new exchange.

https://twitter.com/binance/status/1012383039848976385/photo/1
In March this year, Binance moved its headquarters to Malta amid a crackdown by Japanese regulators. The company is also looking to set up its new Global Compliance Base in Bermuda.

Binance is currently the second largest cryptocurrency exchange by market capitalization.