One of the biggest crypto exchanges by trading volume, Binance, will soon add support for its first fiat-to-cryptocurrency trading pairs.
During the Open Innovation 2019 conference in Moscow, Binance’s CEO Changpeng Zhao (CZ) announced that the exchange will soon add fiat options, and that it will start with the Russian Ruble:
“We’re adding support for fiat trading. In about two weeks or so, we should have support for Russian rubles trading directly. So you can buy cryptocurrencies on Binance.com using rubles.”
Although Binance has opened international crypto-fiat exchanges in Uganda, Jersey, Singapore, and the U.S., its primary service, binance.com, has only been supporting crypto-to-crypto trading so far.
These four exchanges were opened as part of Binance’s reported plan of expanding to eight new countries. In the meantime, Binance continues to list cryptocurrency-pegged tokens on its decentralized exchange, Binance Dex.
A week ago, it added XRP-BF2, which is pegged to the price of Ripple (XRP), to its decentralized exchange platform, while today it announced the BCH-1FD, which is pegged to the value of Bitcoin Cash.