Russians will soon be able to purchase cryptocurrency on the world largest cryptocurrency exchange Binance.
This comes from the CEO, CZ who in the Open Innovation Conference in the capital of the country said Russians will be able to buy and trade rubles to cryptocurrency on the exchange.
He is quoted saying “In about two weeks or so, we should have support for Russian rubles trading directly.” He went in saying “so you’ll be able to buy cryptocurrencies Binance.com using rubles.”
The firm which started as an exchange and has now grown into a platform business with the various products it offers to the cryptocurrency community had earlier partnered with a London based firm for a fiat gateway.
This allowed users to buy with MasterCard and Visa debit & credit cards cryptocurrencies. It also facilitates bank wire transfers for purchasing of cryptocurrencies.
Since the year began, Binance has been steadily building it’s business from being just an exchange to an ecosystem.
It started the 2019 crypto crowdfunding with the initial exchange offering IEO allowing crypto start-ups to raise funds while instantly getting listed on the exchange.
It has also developed and brought to the market its futures platform, its margin trading platform and Lending.
In addition to these, it launch an initiative to create localized stablecoins pegged to local currencies, Project Venus. A move which Libra is looking forward to implement.
As Binance has hinted plans to allow Russians to purchase cryptocurrency on the binance.com platform, it has so far launched four different fiat to crypto exchanges in Singapore, US, Uganda and Jersey.
By November, binance.com platform users will be able to purchase cryptocurrency using the rubles according to CZ.