Binance Expands Trading Options for Turkish Lira, Russian Ruble

Popular cryptocurrency exchange Binance has announced the addition of four new trading pairs to its platform. These include pairs for the Turkish lira (TRY) and the Russian Ruble (RUB).

The new trading pairs give its traders new fiat currency options, as traders will now be able to trade both currencies against Tether’s USDT stablecoin via the USDT/TRY and the USDT/RUB trading pairs, while also having access to new TRY pairs: ETH/TRY, XRP/TRY. The pairs started trading at 8 am UTC on Christmas day.

With the new additions, the cryptocurrency exchange now has six trading pairs against the Turkish lira and the Russian ruble. New RUB trading pairs were added earlier this month, with Binance giving users the options to trade the fiat currency against BTC, ETH, XRP, and BNB.

As CryptoGlobe reported, the leading cryptocurrency exchange added support for the Turkish lira to its fiat-to-crypto offering back in November, via a partnership with electronic payments firm Papara. The first fiat currency to be added to the exchange’s trading pairs was the Nigerian naira (NGN).

Not all of the fiat currencies Binance supports have a trading pair with an orderbook on its platform. Most are available through its direct fiat-to-crypto offering, which Binance plans to expand to the point it offers 180 different fiat currencies to its users.

Currently, the exchange offers the option to directly buy the Russian ruble, the European Euro (EUR), the Kazakhstani tenge (KZT), and the Ukrainian hryvnia (UAH). Binance CEO Changpeng Zhao has said the trading platform is looking to add the 180 fiat currencies within “six to nine months or so.”

Featured image by cryptostock via Pixabay.