The world’s largest cryptocurrency exchange is launching a new affiliate program in Africa after announcing the end of its service in Uganda.
On November 3, Binance officially announced the launch of the Binance Africa Affiliate Program, which aims to promote Binance across the continent. According to the exchange, the new program is open to influencers, programming enthusiasts and content creators from Nigeria, Ghana, Kenya, South Africa and Uganda.
A Binance spokesperson told Cointelegraph that Binance’s services in Africa include fiat ticket users from Nigeria, South Africa, and Uganda. The exchange also offers peer-to-peer services to users in Kenya.
The move comes after Binance announced the closure of its Uganda branch on October 27. Binance Uganda is expected to shut down completely from November 28, 2020, with trading services slated to close on November 11. According to the announcement, the exchange has already closed new deposits and registrations on 28 October.
Binance Uganda is a cryptocurrency exchange platform. Binance was launched in June 2018, allowing users in Uganda to access cryptocurrencies using the Ugandan Shilling or UGX, and facilitate the adoption of digital currencies in Africa. An exchange spokesperson indicated that despite the platform’s suspension, local users will still be able to deploy UGX through the main Binance platform.
In September 2020, Binance removed its original Binance Coin (BNB) token from Binance Uganda. The leaders then explained that the BNB / UGX trading pair did not meet the criteria for trading on the exchange.
Binance Uganda is the second subsidiary on the local stock exchange to be closed in the last 30 days. On October 19, Binance announced the upcoming closure of Binance Jersey. The exchange did not provide a reason for the closure of the Jersey business, but instead said that Binance.com “will continue to provide services to Jersey residents through compatible banking channels.”
According to a Binance spokesman, the two comments are not related because “Binance Jersey and Binance Uganda are separate entities.” The spokesperson indicated that the stock exchange will continue to expand globally to offer more local products and services to local users.