The major cryptocurrency exchange Binance just listed four trading pairs for Russian ruble (RUB) according to an official announcement which was confirmed on December 2. These trading pairs featuring the ruble include Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and Ripple’s XRP token.
Confirmed by the CEO of the exchange Changpeng Zhao known as ‘CZ’, the development was in the works for some time now. At press time, the Binance news reconfirm the introduction of ruble trading on the platform announced in late October when Zhao officially confirmed that users could deposit and withdraw fiat funds in rubles.
— CZ Binance 🔶🔶🔶 (@cz_binance) December 2, 2019
The official post by Binance says the following:
“RUB deposits are now open. Users can check their RUB balances and trading options here. Please note: The Russian Ruble (RUB) is the currency of the Russian Federation and does not represent the ticker for other existing digital assets.”
Zhao previously lauded Russia and its position as a very important jurisdiction for the crypto and blockchain industries. With this, he recognized the wealth of computer science talent in the country and went so far that he even called the Russian President Vladimir Putin “the most influential person in the blockchain industry.”
The latest news that Binance just added new support for Russian rubles is only one thing in a series of new features and assets added to the platform over the past few months. In November alone, for instance, Binance added support for the Turkish lira and also became the first exchange which added the Fiat Gateway developed by the stablecoin operator Paxos.
In late October this year, Binance just launched support for the Nigerian naira, too. Stats show that over the last 24 hours, the currency has seen more than $43,000 in trading volume against Bitcoin (BTC) and nearly $25,000 against the stablecoin Binance USD (BUSD).
Meanwhile, it seems like the competitors to Binance are also trying to expand their scope of operations. As we reported in mid-November, Bitcoin futures trading on the International Exchange (ICE) and its Bakkt platform will expand and include a cash-settled option.
While Binance just added new Ruble support, the market still suffers and is below $200 billion. As the Bitcoin news show, the BTC price went below $7,300 once again.
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