Exchanges • October 15, 2018, 12:58PM EDT

Binance launched its first fiat crypto exchange in Uganda

The Block

Four months after announcing the exchange's first fiat-to-crypto exchange, Binance has officially launched it today. Deposits for Ugandan Shillings, country's local currency, will open on October 17. Initially, Binance Uganda will only offer bitcoin and ether pairs but plans to add more pairs in the future. 

Binance also plans to launch additional fiat-to-crypto exchanges starting in Liechtenstein and Singapore. Additionally, Binance is also expected to allow fiat deposits and withdrawals through a bank account in Malta although the timing is not immediately clear. (Source: Binance)

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Larry joined crypto research full time in early 2017 and has expertise in capital markets, market structure and early stage DeFi companies/protocols and token economics. He has a background in economics and finance.