Binance Uganda: The world’s most active cryptocurrency exchange by trade volume, Binance, just announced that it would be opening its first exchange in Uganda.

Official Launch of #Binance Uganda Fiat-Crypto Exchangehttps://t.co/Od3NsL3rtm pic.twitter.com/3wCOdT5q62
— Binance (@Binance) June 28, 2018

According to the statement made on the company’s website, Binance told its users that it would be starting a fiat-crypto trading pair with the Uganda Shilling.

The statement reads:

“Binance is excited to announce our first fiat crypto exchange – Binance Uganda! Registrations for Binance Uganda will open from today, and the first 20,000 users to register on www.Binance.co.ug will each be rewarded with 0.5 BNB.”

Binance will be offering users in Uganda a month of free trading, once the trading pairs come online. The date isn’t yet set for the launch of the trading pairs, but the company states it will be announced soon.

The total rewards for the promotion above are limited to 10,000 BNB. The rewards will be distributed on a first come, first serve basis.

Giveaway Rules

Binance made the statement that it has the right to amend or cancel this promotion at its discretion.

The rewards will be given out within two days of the official launch of the trading pairs. To see if you’re one of the winners, login to your account and access the ‘Distribution History’ within the Account Center.

ID verification must be completed to withdraw from Binance Uganda.

Financial Institutions in Uganda

Ugandans’ access to financial services has dramatically changed within the last few years. It was specifically driven by the digital inclusion through wide adoption of mobile money platforms.

According to a World Bank news report, more than half of the adults within Uganda have access to an account at a formal financial institution. This is double what it was just ten years ago. However, only about 15% of the same population keep their savings at these financial institutions.