Binance Exchange Rolls Out Four New Trading Pairs For The Russian Ruble (RUB)
Leading crypto exchange platform Binance has announced listings of four Russian ruble pairings, Cointelegraph reports.
According to an announcement made by the exchange, the trading pairs featuring the Russian Ruble include XRP/RUB, BNB/RUB, ETH/RUB and BTC/RUB and are available starting from Dec 2, 2019.
Binance’s plans to support ruble trading pairs were first revealed by the exchange’s CEO Changpeng Zhao commonly referred to as CZ during a crypto event in Moscow that was held on Oct 21. During the event, CZ stated that his exchange was planning to have direct Russian ruble trading pairs in less than two weeks. He explained that the decision was to allow Russians to buy cryptos on the exchange using rubles.
About a week later after the revelations of plans to add the ruble pairs, Binance stated that it had allowed ruble deposits as well as withdrawals using Advanced Cash, a payment system backed by ADV Project Ltd that says it is faster compared to the traditional money transfer system and offers cheaper services than the standard bank account and simple to use compared to other e-currency platforms.
Supporting the addition of the four pairs, Zhao took to his twitter account to explain that this will offer more options to its customers.
— CZ Binance (@cz_binance) December 2, 2019
Previously, Zhao has hailed Russia’s efforts making it a vital and friendly destination for the crypto as well as blockchain startups. CZ also stated that President Putin holds the key for the next chapter in the blockchain industry.
Binance has been on a quest to add support for new assets in the last couple of months. Last month, the exchange also stated the support for Turkish lira. Similarly, in October, Binance also announced the support of Nigerian naira, the official currency of Nigeria.
Binance is not the only exchange that is expanding its trading pairs and support for new assets. Last month, Bakkt, powered by Intercontinental Exchange (ICE), revealed that it will have a cash-settled option. Similarly, OKEx also introduced Bitcoin futures agreements which are margined using the USDT stablecoin.