Binance: Start business in Uganda

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Recently Binance, the transaction volume of the largest crypto stock market, and its Expansion to Uganda, announced. The market entry step of the way. The Start-up in Uganda is part of the announced Expansion, the crypto-exchange.

Binance goes to Uganda step – by-step: Since the age of 15. October, the day of the announcement, and can verify the users of its Accounts. From the age of 17. October should then be deposits in the national currency the Uganda shilling (UGX), BTC and ETH. The start of the actual trade (for the time being, BTC/UGX and ETH/UGX) has not yet been announced.

Geographical Arbitrage, and decentralized exchange

The geographical spread of concern for “geographical Arbitrage”,says Arianna Simpson, founder of the crypto-hedge Fund, Autonomous Partners. That means that the stock market is looking for the locations with the best regulatory conditions. CEO Changpeng Zhao has the crypto market in China to 2017 – founded. As the Chinese government all the crypto exchanges the castle, moved the Team to Japan and later to Singapore and Taiwan. Initially, Japan was to the USA, the second largest market for the crypto-exchange. This changed when, at the beginning of this year, the competent regulatory authority warning against Binance said, because the crypto-stock exchange in Japan without a license operated. In response to the warning wandered Binance in the crypto-friendly Malta. This move put a major milestone for the product expansion of the crypto-exchange.

Unlike many of its competitors began to Binance as a pure crypto-to-crypto-platform. The relocation to Malta should be the change. As announced to the stock exchange in March, in negotiations with Maltese banks are, to a Fiat-crypto trading pairs. The participation of the resident in Malta “Blockchain-Bank” Founders Bank could Binance in the case of this project, in addition to be useful.

Another important product development Binance Chain, a decentralized stock exchange. In July Ethereums co-founder Vitalik Buterin announced that he hope that all centralized exchanges “burn in hell”. In a Statement, pointed Changpeng Zhao on the importance of centralization. He does not reject decentralized exchanges, however, and think it is just as important as centralized. In August, let Changpeng Zhao then from words to deeds, and demonstrated the first Binance Version of a decentralized stock exchange.

In addition, operates the crypto-stock exchange an Investment Fund for the financing of the Blockchain and crypto Start-ups, in Libra Credit, a Loaner from Fiat and crypto-loans, investing and is socially active. So donating the crypto-stock exchange about a part of their fees for good purposes, and encourages developing countries.

Conclusion

Binance has achieved much in a short time. Even if the social activities such as donations also serve to improve the reputation of crypto-companies, it is assumed that Binance want to remain pure stock. May Binance proposes a similar path to that of the competitor of Coinbase: the development of oligopoly in the technology industry. There, Google, Apple, Facebook and Amazon (GAFA) dominate. Of the decentralization, only the technology would be then.

BTC-ECHO

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