https://ift.tt/2zkRQdq global market doldrums, demand for cryptocurrency appears to be booming across Uganda, a country where nearly three out of four people don't have bank accounts.Revealed exclusively to CoinDesk, Binance Uganda signed up 40,000 users in the first week since the world's largest crypto exchange launched its local subsidiary in October.The early results suggest a strong appetite among unbanked Ugandans for purchasing bitcoin or ether, the two coins the new Binance unit currently lists.According to a paper by Stanford University researchers recently published in the American Economic Journal, 74 percent of Ugandan households are unbanked. As such, Binance's chief financial officer Wei Zhou told CoinDesk:"They [users] just have to have money within the mobile payment system. They don't have to have bank accounts."Aside from the local focus, the effort differs from Binance's flagship global trading platform in at least two other notable ways.https://ift.tt/2yKKyQF
Submitted November 02, 2018 at 06:51AM
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