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Binance is opening doors to cryptocurrencies in Uganda

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Binance has great interest in expanding to Africa’s market and has taken a big step in Uganda.

Based on Zhao, well known in the industry as CZ, Binance's CEO, said that they don't want to distribute crypto not only to developed countries, but also to less developed, such as Africa.

CZ noted the quick progress of Binance in opening doors to cryptos in Uganda and this is largely due to the strong support from regulators, the government and the industry:


Uganda is a really interesting situation, only 11% of the population has bank accounts. It’s both a challenge and an opportunity. So it may be easier to adopt cryptocurrency as a form of currency instead of trying to push for bank adoption. It’s an interesting experiment. Africa’s a big market, that’s why we’re there.


It seems Uganda market will be launching very soon. This could be a way of assisting third world countries as well as people around the globe, and helping them not just become a part of the local economy, but the global economy as well. It’s a real big deal as it will affect some positively. This is something great Binance is doing here. Let's hope they expand even more!

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