Binance will begin by accepting, in the coming days, the Russian Ruble on its platform.

One of the most important crypto exchange companies, Binance, recently announced that now, through its platform, it will allow the exchange in fiat money with cryptocurrencies. Discovering, in addition, that the first fiat currency to enter its platform will be the official Russian currency, the Ruble.

The announcement was made by Changpeng Zhao, who is the CEO of Binance, during a public presentation in a conference held in Moscow last Monday, October 21st. There, Zhao said that the trade option between fiat money and cryptocurrencies will soon be enabled within its conventional platform for all the crypto community.

Zhao added that the first currency introduced on the platform will be the Russian Ruble. Which can be traded in Binance with all the cryptocurrencies available. “We are adding support for the fiduciary trade. In about two weeks or so, we should have support for the direct Russian ruble trade”, the platform’s CEO added.

Currently, the exchange platform Binance had only allowed trade between crypto-crypto, this in addition to the fact that in some countries is available the option of a single link which introduces the fiat market for some commercial premises in countries such as Singapore, Uganda and Some regions in the United States of America.

Last September, Binance announced that, in addition, it would include in its platform the option to trade with bitcoin over-the-counter (OTC). This is something that, according to this piece of news, could originate the pronouncement of Alipay, a company that goes against these methods of trade.

Despite the ban to OTC on the Chinese payment platform Alipay, Binance has managed to develop a large number of alternatives which seek to expand the marketing of cryptocurrencies. In this way, this piece of news is an alternative or a leap that could generate more acceptances among those markets that are skeptical of crypto.

In another sense, Binance also announced the incorporation to its platform of a new token that will be anchored to the price of Bitcoin Cash, classifying the cryptocurrency as an asset of decentralized origin. About that aspect, Zhao commented that this initiative will help further expand the exchange options for the platform.

Binance to the Head in the Cryptographic Exchange

Binance has demonstrated to be the leading company in the exchange of digital assets worldwide. This is not only due to its huge crypto exchange platform, but the company has maintained an innovation policy well above its competition, also covering a large number of markets.

An example of this constant innovation was exposed a few weeks ago when the company launched a product that will help to have a physical backing on Bitcoin in Switzerland. This asset would be associated with the stock market of the European country.

In this way, Binance announces its incursion with the traditional fiduciary markets, mixing them in turn, with the cryptography sector in which the company has been working since some years ago.

By María Rodríguez


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