Binance Withdraws Support for Ruble Trading Pairs, Expands Margin Trading Program
Binance, the world’s largest cryptocurrency exchange, has announced plans to end support for several P2P trading pairs with the Russian ruble, including BTC/RUB and ETH/RUB, effective January 31, 2024. This decision follows Binance’s previous exit from the Russian market, with the exchange selling its local Business to the crypto platform CommEX.
Russian users are being offered transition options, including the ability to switch to CommEX for continued ruble trading or use Binance’s options for withdrawing or converting rubles before the deadline. According to Binance, users can continue P2P trading with the Russian ruble free of charge on the CommEX platform, provided they register with a CommEX account and connect it to their corresponding Binance account.
In addition to withdrawing support for certain trading pairs, Binance has introduced new tokens like PIVX as borrowable digital assets on its Cross Margin and Isolated Margin programs. The exchange has also expanded its Isolated Margin program to include trading pairs such as ADA/FDUSD and DOGE/FDUSD.
Margin trading allows eligible clients to access funds from the exchange for leveraged trades, offering the potential for higher profits but also posing the risk of greater losses if the market moves in the opposite direction.
This announcement comes following Binance’s decision to sell its local Business in Russia to CommEX and withdraw support for several ruble trading pairs. The move signals Binance’s continued commitment to evolving its offerings and ensuring a seamless experience for its global user base.
Furthermore, the exchange has also announced a special offer for new users, providing $100 free and 10% off fees on Binance Futures for the first month. Terms and conditions apply.
