Where Else Can Binance Expand to?
Binance has made some major improvements & updates during the past year. Binance coin launched their own chain, a launchpad was added for new cryptocurrency projects and Binance has been expanding to more territories.
This includes Binance's purchase of WazirX an Indian peer-to-peer exchange last week. The purchase was followed by the addition of the Indian Rupee on the platform for various trading pairs. It appears that Binance didn't only have India on their mind when it came to expansion.
Binance Unrolls Russian Ruble Trading Pairs
Besides India, another huge country where the U.S. dollar is a bit uncommon is the Russian Federation. Binance has just unveiled that they will accept Russian Ruble deposits and BNB/RUB, BTC/RUB, ETH/RUB and XRP/RUB trading pairs.
While Russia's population is only 146 million residents as compared to India's billion, Russia has a much higher purchasing power. This move will help consolidate Binance's position as possibly one of the largest global cryptocurrency exchanges.
Seeing that Binance has added local currency support for many different local currencies, the biggest question is: Where will Binance expand to next? One guess would possibly be South America, where many residents have little faith in their national currencies. It could present a chance to bank the unbanked, which Bitcoin notoriously promised.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado