Written by Helen Partzstaff writerReviewed by Alex Cohenformer editorBinance crypto exchange delists its own token on Uganda platform
Latest NewsPublishedSep 9, 2020
BNB seems to have failed to meet certain standards on Binance's Uganda platform.
The world’s largest exchange, Binance, is delisting its own token for trading against the Uganda shilling (UGX).
According to a Sept. 9 announcement, the Binance Uganda platform decided to delist and cease trading on all trading pairs for Binance’s native token, Binance Coin (BNB).
The BNB/UGX trading pair will be officially removed from Binance on Sept. 17, while BNB deposits will be terminated on Sept. 10, the exchange said. BNB withdrawals will be still available on Binance Uganda till Nov. 6, Binance noted.
Binance provided little information about the reasons behind the delistings, only stating that the BNB/UGX trading pair apparently did not meet the exchange’s “trading standard.” Apparently, the trading pair did not have sufficient trading volume and liquidity, according to 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.”
Binance has not responded to Cointelegraph's request for comments at publishing time.
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