Crypto users in Russia can now start trading virtual currencies through Binance using the new Peer-to-Peer (P2P) trading solutions provided by Binance. The main feature of this addition is the fact that it includes Russian Ruble (RUB) for users to trade virtual currencies. The information was released earlier today by Binance in an official blog post.
Binance Announces P2P Russian Ruble Support
Individuals in Russia have now a new way to acquire digital assets in the market. They can do so through the RUB P2P trading solution announced by Binance. At the moment, the only virtual currencies supported by this new solution include Tether (USDT), Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB).
It is very positive for Russians and citizens not to only have Bitcoin, Ethereum and Binance Coin, but also a stablecoin. The Russian Ruble has many times in the past experienced high volatility rates and the Russian society accumulated a large amount of US dollars. This is why USDT could be of special attraction for many individuals.
Changpeng Zhao, the CEO of Binance, explained that Russia has a very vibrant crypto and blockchain community. On the matter, he commented:
“We strive to provide our Russian users with easy fiat-to-crypto access. P2P trading provides an open marketplace and more flexible access for users to trade multiple cryptocurrencies with other users or merchants in the payment methods they prefer.”
It is worth taking into account that in October 2019, Binance has integrated the Chinese Yuan (CNY), the Vietnamese Dong (VND) and the Russian Ruble for acquiring digital assets. The main goal is to offer users the possibility not only to have access to the crypto market but to have fiat access, trade and also earn money.
Binance is currently one of the largest crypto exchanges in the world. It has allowed users to have access to a large number of trading pairs and digital assets. In addition to it, Binance is offering a wide range of other products and solutions, including spot trading, futures trading, fixed income investing, staking and more.
Russia is a country in which blockchain and cryptocurrencies have been expanding over the last few years. This is very positive for the whole crypto space that continues to move forward. The new services launched by Binance are going to be very positive to onboard new users and clients to the whole crypto market.