Binance to Close Uganda Arm Over Low Trading Volume
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9 September
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Cryptocurrency exchange Binance is planning to close its East African arm, Binance Uganda, due to low trading volume and liquidity, Binance CEO Changpeng Zhao has hinted.

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The largest derivatives exchange by trading volume has already taken a decision to delist binance coin (BNB), the exchange's native token, from Binance Uganda.

"At Binance.co.ug, we periodically review the trading volume and liquidity of the assets we list to make sure our high level of standard is met. Unfortunately, when this trading standard is not met, their performance is subject to review and may result in the delisting of the coin or token," the trading platform wrote in an official press release.

Binance will reportedly delist and cease trading on all trading pairs for the following token at 10:00AM EAT 2020/09/17.

Zhao claims the delisting is "a standard sunsetting process for Uganda exchange."

"All trading pairs are being taken down, one by one," Zhao added.

Previously, Binance expanded collaboration with a decentralized gaming platform called The Sandbox.

The collaboration comes after purchasing 4,012 LAND NFT tokens by Binance before the start of the fourth LAND pre-sale in the games' metaverse, which is scheduled for September 15.

Binance Launches New Platform for Staking Tokens

The Sandbox recently completed a token sale in which it raised around $3 million through Binance Launchpad, an exclusive token sales platform, Binance representatives told iHodl.

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