Binance Quietly Launches Ruble Trading for ‘Top-10 Market’ Russia

Must Read

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals...

Top 5 Tips for Managing Your Blockchain Project in 2020

Description: Seriously, how do you manage your blockchain project in 2020? The global economy has gone through...

MyCryptoMixer 2020 – The Most Effective Bitcoin Mixer Necessary To Protect Customer’s Anonymity as well as Personal privacy

Federal governments and also law enforcement agencies have been alerted to the possible illegal use...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Major global crypto exchange Binance has silently launched Russian ruble trading on Oct. 30 allowing users to deposit and withdraw in RUB.

Binance Ruble trading goes live according to the plan

Less than two weeks after announcing Binance’s plans to launch fiat trading starting with Russian ruble, Binance CEO Changpeng Zhao (CZ) revealed that ruble trading is live in a tweet on Oct. 31.

CZ noted that the launch of Russian ruble was released silently and in conjunction with his interview on Coindesk stating that Russia is one of the biggest markets of Binance exchange.

CZ first announced the ruble trading launch speaking at a Russian government-sponsored event, the Open Innovations Forum in Moscow on Oct. 21. At the time, Binance said that the exchange was expecting the launch in about two weeks.

Russia is among the top 10 markets on Binance

In another interview with Russian-language crypto news outlet Forklog on Oct. 31, Binance CEO revealed that Russia is one of the top-ten markets on Binance. When asked about the number of Russia-based users, CZ suggested that the amount is significant, saying:

“Russia is in the TOP-10 for sure. Our user base is very similar to the geographical distribution of Bitcoin holders.”

According to a recent Forklog survey, Binance is the most popular cryptocurrency exchange in Russia, Ukraine and Belarus, with nearly 60% of the respondents claiming that they prefer Binance rather than other global crypto exchanges. 

When asked what could be a trigger for such a level of popularity in these regions, CZ said that Binance is just trying to meet the demand by adapting their products to the local language.

Binance’s introduction of Russian ruble trading comes amid a report that Russia’s internet ombudsman is planning to launch a new Bitcoin (BTC) mining facility to mine 20% of the global Bitcoin. 

Meanwhile, the cryptocurrency industry is not formally regulated in the country, as recently reported. On Oct. 22, Zhao expressed his confidence that the bill on regulating digital currencies in the Russian Federation will be adopted in the foreseeable future.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...

WorldMarkets continues with the success of its trading artificial intelligence

Today we live in the information age, and access to information is unlimited. And that produces the paradox of misinformation. That's why...

MyTvchain.com Records Growth for The First Blockchain ​​Web Tv Platform Dedicated to Sport Clubs And Athletes

Sophia Antipolis (France) and Singapore: The first web TV platform dedicated to sports clubs and athletes opened in...