The latest reports reveal that Binance Exchange has delisted the Binance Coin (BNB) from its Uganda platform. The world’s biggest exchange confirmed that its in-house coin will not be trading against the Uganda shilling (UGX).
On September 9, 2020, the Binance Uganda platform announced that it has decided to delist and stop trading on all trading pairs of Binance’s native token, Binance Coin (BNB). The BNB/UGX trading pair will cease to operate on Binance on September 17 while the BNB deposits will stop operations on September 10. However, Binance noted that the BNB withdrawals will remain available on Binance Uganda until November 6.
Binance Exchange did not offer more information about the reasons behind the delistings. It only said that the BNB/UGX trading pair never met the exchange’s trading standard. Reportedly, the trading pair never met sufficient trading volume and liquidity based on Binance’s statement:
“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.”