The East African arm of leading cryptocurrency trading platform Binance, Binance Uganda, has announced it will delist the parent company’s native token, the Binance Coin (BNB).
According to an announcement published by Binance Uganda, the token will be delisted on September 17, with the exact trading pair being removed being BNB/UGX. This means traders using the platform will no longer be able to trade Binance’s own cryptocurrency against the Ugandan Shilling, the country’s fiat currency.
Notably, the announcement details that Binance Uganda periodically reviews the “trading volume and liquidity of the assets we list to make sure our high level of standard is met.” It adds:
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.
Binance Uganda is set to stop accepting BNB deposits on September 10, and will halt withdrawals on October 6. Binance Uganda was launched back in November 2018, and in its opening week gained a massive 40,000 sign-ups.
It’s worth noting that Binance’s main trading platform supports UGX deposits and withdrawals, allowing users to buy and sell cryptoassets with Ugandan Shillings. As CryptoGlobe reported, the exchange recently announced the purchase of over 4,000 LAND tokens in the blockchain-based gaming platform The Sandbox.
The exchange has also recently launched a new trading platform similar to leading decentralized exchange Uniswap, which allows users to become market makers and trade with a smart contract.