Binance is adding support for fiat cryptocurrency trading soon, and the first currency will be the Russian ruble.
October 21, 2019, | AtoZ Markets – The leading cryptocurrency exchange Binance is preparing to add support for fiat cryptocurrency trading — starting first with the Russian ruble.
Binance Russian Ruble trading starts in 2 weeks
Binance CEO Changpeng Zhao “CZ” announced the news at the Open Innovations conference in Moscow, Russia on Monday, saying:
“In about two weeks or so, we should have support for Russian rubles trading directly. So you [will be able to] buy cryptocurrencies on Binance.com using rubles.”
Just last week, on Oct. 16, Binance quietly added euro (EUR) and British pound (GBP) pairs to its application programming interface or API. Binance intended to launch a fiat-to-crypto exchange in Russia earlier this year, among other countries.
4 international crypto-fiat exchanges launched
At the moment, Binance has launched four international fiat cryptocurrency exchanges – in Uganda, Jersey, Singapore, and the U.S. Binance has been expanding its fiat gateways, giving users more options to buy cryptocurrencies.
In September, the Binance collaborated with London-based payments processor Koinal for a fiat gateway, which allows users to purchase cryptocurrencies with Visa and MasterCard debit and credit cards, as well as via wire bank transfers.
The exchange also has similar partnerships with Simplex, Paxos and TrustToken for its fiat gateway channels. CZ said at the time that Binance will “continue to build fiat-to-crypto gateways in our effort to increase accessibility and adoption of crypto.”
Also announced by the exchange on Monday, a new token pegged to the value of the bitcoin cash (BCH) cryptocurrency has been listed on its decentralized exchange, Binance DEX.
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