Binance’s Fiat Trading Option to Kick Off with Russian Ruble

Major crypto exchange Binance is soon to introduce its first fiat-to-cryptocurrency trading pairs. 

Talking at the Open Innovations 2019 conference in Moscow on Monday, CEO Changpeng “CZ” Zhao affirmed that fiat alternatives are en route, commencing with the Russian ruble:

“We’re adding support for fiat trading. In about two weeks or so, we should have support for Russian ruble trading, direct.”

As of recently, the firm’s primary service, binance.com, has only provided support for crypto-to-crypto trading. However, it has introduced local fiat gateways in Singapore, Uganda, Jersey and, most recently, the U.S.

Binance had stated in September that fiat payments were going to over-the-counter OTC trading – efficiently, bulk deals – this month. Notwithstanding, his remarks on October 22 seem to show that general trading on the trade will likewise support the new alternatives.

Also revealed by the exchange on October 21, another token pegged to the value of the bitcoin cash (BCH) digital currency has been recorded on its decentralized exchange, Binance DEX. Binance stated its “BCH-1FD” token would bring more alternatives for DEX clients.