Binance Lists Stablecoin Tether Based Lira, Ruble Pairs December 26, 2019 December 26, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 26, 2019 by Kelly Cromley

Binance Lists Stablecoin Tether Based Lira, Ruble Pairs

Binance cryptocurrency exchange has started offering new Turkish lira (TRY) and Russian ruble (RUB) based trading pairs. Specifically, Binance clients will now be able to trade USDT (Tether)/ (TRY) pair, in addition to the USDT/RUB pair.

The media announcement made yesterday indicates that the second-largest exchange by trading volume has started facilitating trading the above mentioned pairs at 8:00 AM UTC yesterday.

Furthermore, community manager of the Turkish branch of Binance has started offering order book trading facility for all of the listed Turkish lira based trading pairs: BTC, ETH, XRP, BNB, BUSD, and now USDT.

Earlier, these trading pairs can be bought or sold only through one-click buying/selling facility offered by the exchange. The announcement has come after the exchange started offering Turkish lira and Russian ruble based currency pairs.

Notably, Binance rolled out ruble trading on October 30, permitting its clients to withdraw and deposit Russian ruble via the platform. Even though cryptocurrency supposedly continues to stay unregulated in Russia, Binance CEO Changpeng Zhao (CZ) states that the nation is among top 10 markets for Binance.

In mid-November, a gateway for Turkish lira was rolled out by Binance, when the platform started supporting purchase of Bitcoin (BTC) and other altcoins using the lira through Papara, a local associate offering virtual currency wallet.

At that time, Binance allowed only the purchase of cryptos using the lira. It did not officially state anything about selling cryptos for the Turkish national currency.

The latest lira based pair increases the total number of try based trading pairs to four, with the other three trading pairs being BNB/TRY, BUSD/TRY and BTC/TRY.

By introducing Turkish lira based pairs last month, Binance outclassed Singapore headquartered crypto exchange Huobi, which revealed its intention to rollout Turkish lira support in October but is yet to turn it into a reality.

In accordance with Huobi’s strategy for Turkey, the company roped in new general manager for Turkish branch of Huobi earlier this month.

Binance, likewise, were looking for suitable candidates for its Turkish office.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.