Binance Launches Its First Crypto to Fiat Exchange in Uganda..

New trading platform Binance Uganda, will be the company’s first fiat to crypto trading -supporting the Ugandan Shilling, alongside major cryptocurrencies.

CZ , the CEO and founder of Binance, said the company is about to launch a crypto-fiat exchange in Uganda, in an exclusive interview on June 28.

CEO and founder of Binance, CZ ’ told that the move “shows Binance is not just into chasing the most developed markets”.
Binance is interested in expanding to Africa’s market “in general,” CZ said work on the Uganda venture has been “progressing really fast,” thanks to strong support from government.

Binance Uganda will be an independent structure, but with “strong business corporation” with the existing platform
Binance will have a lot of know your customer and anti money laundering (KYC/AML) regulatory questions to figure out, the CEO stressed, before it can scale further.
He considers that volatility will ultimately settle when the total market cap of the industry will increase, and suggested that opening more fiat channels.

Binance is also set to launch in 2 or 3 more locations in the short term and continues to work on a prototype for its decentralized exchange.
Binance is currently one of the largest cryptocurrency exchanges by daily trade volumes in cryto field/..