Sep 12, 2020
Binance has commenced its support for direct fiat-to-crypto trading of Russian rubles. The initiation will allow the users to deposit and withdraw rubles, and also buy bitcoin, ethereum, and XRP with the traditional money. AdvCash, a Gibraltar-based electronic payments platform, has provided the support for the rubles. The platform will proffer faster and cheaper payments and charges 3% for each deposit.
The leading cryptocurrency exchange, Binance, has introduced Russian rubles on the platform to promote direct trading of fiat money to cryptocurrencies. According to the information rendered on Wednesday, the initiative will enable the Binance users to deposit and withdraw RUB and also allow them to purchase bitcoin, ETH, and XRP via the fiat money.
A Gibraltar-based electronic payments platform, AdvCash, has come forward to support the Russian money. AdvCash will charge 3% fees for each deposit, and 2.5% plus 50 RUB for every withdrawal. The platform also claims to present faster and cheaper payments as compared to conventional money transfers or a regular bank service.
Binance CEO Changpeng Zhao unveiled on October 21, the idea of supporting rubles. Last week, Nigerian Naira (NGN) was added to the exchange.