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Binance Starts the African affiliates program, After the Closure of the Ugandan Subsidiary

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Binance Starts the African affiliates program, After the Closure of the Ugandan Subsidiary

After the world’s largest cryptocurrency replacement confirms the termination of its Binance Ugandan-based service, it is launching a new joint venture program in Africa.

On November 3rd, Binance officially launched the Binance Africa Membership Program, which aims to promote Binance across the African continent. According to the alternative, the new plan is open to influencers, crypto enthusiasts and content creators in Nigeria, Ghana, Kenya, South Africa and Uganda.

A Binance spokesperson told Cointelegraph that Binance’s service providers in Africa are legally exporting customers from Nigeria, South Africa and Uganda. The backup server also offers customers in Kenya a peer-to-peer provider.

The deal was announced after Binance announced the closure of its Ugandan subsidiary on October 27. According to the announcement, Binance Uganda is expected to end on November 28, 2020 and the retailer’s closure is expected to end on November 11. The alternative closed deposits and new registrations on October 28th.

Binance Uganda is a fiat-to-crypto platform launched by Binance in June 2018 that allows Ugandan customers to enter cryptocurrencies with Ugandan shillings (UGX) and promote the adoption of cryptocurrencies in Africa. Regardless of whether the platform is suspended or not, local customers can deposit into UGX through Binance’s main platform (the alternative advisor is famous).

Binance Removes BNB from Binance Ugandan Trading

In September 2020, Binance canceled the listing of its local token Binance Coin (BNB) from Binance Uganda. Executives then defined the BNB / UGX trading requirements for non-compliant replacements.

Binance Uganda is the second local alternative subsidiary to shut down in the past 30 days. On October 19th, Binance launched its upcoming Binance jersey. The replacement did not include an explanation for the Jersey business closure, but said Binance.com “will continue to provide service providers to Jersey residents through compliant banking channels”.

In accordance with Binance’s advisors, these two suspensions are not linked as “Binance Jersey and Binance Uganda are two unbiased entities”. The spokesperson is known and the alternative product will continue to grow worldwide, providing additional benefits to local customers Localized services and products.

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