Binance Uganda to Delist the Exchange’s Own BNB

By Liam Frost

Binance Uganda, the East African arm of major cryptocurrency exchange Binance, has announced today that it will delist its international parent company’s native token Binance Coin (BNB) on September 17.

“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 exchange wrote.

This time around, the asset that didn’t meet “this trading standard” turned out to be Binance’s very own native coin.

“Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following token at 10:00AM EAT 2020/09/17: Binance Coin (BNB),” Binance Uganda announced, specifically clarifying that “The exact trading pair to be removed is: BNB/UGX.”

According to the announcement, Binance Uganda will stop all BNB deposits on September 10. However, withdrawals of Binance Coin will continue to be supported until October 6.

As Decrypt reported, the main Binance exchange has recently jumped on the DeFi bandwagon with Binance Launchpool, offering its customers to farm new assets as part of the cryptocurrency pivot into DeFi products. But while the exchange needs to stay fresh, it should look after its core offering too.

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