It seems that the head of Binance Changpeng Zhao (CZ) has seriously set his plans on global expansion. After opening a branch in the United States and several joint projects in Africa, CZ launched an offensive on the eastern front – to Moscow and Kiev.
CZ announced his plans to launch crypto-fiat pairs with the Russian ruble in his AMA at the end of October. Coinstelegram reported on this. Not a week had passed, and Binance launched a gateway for buying crypto for rubles through the Advcash payment system (Advanced Cash LTD). True, so far only for the three leading cryptocurrencies. When depositing rubles to Binance through an Advcash wallet, a zero commission is set; users can buy and sell BTC, ETH and XRP for rubles; transactions occur directly with the exchange without commission. Binance emphasizes the benefits of working with the Binance RUB wallet:
- Zero Deposit Fees: Depositing RUB to Binance using your Advcash Wallet is free of any transfer fees.
- 0 Fees when Buying or Selling crypto using funds in Binance RUB wallet.
- Fast: Each purchased asset will reach your Binance wallet quickly.
- RUB Wallet: Binance users are now able to buy and sell BTC, ETH and XRP directly with RUB using Binance RUB wallet.
- Easy Access: Users can deposit and withdraw using bank cards and also the Advcash Wallet.
Russian users also have access to the new function One-Click Buy / Sell. In this case, trading is carried out without complex orders, information on courses is offered in real time.
As for Ukraine, the plans here are much more ambitious. In a country shaken by social crises and civil war, there are much more opportunities for crypto than in stable regulated economies. Binance and the Ministry of Digital Transformation of Ukraine announced the signing of a memorandum of understanding (MoU) “for joint cooperation to form a position in establishing the potential legal status of virtual assets and currencies in the country”.
– Binance will help develop transparent and effective mechanisms for transferring rights to any virtual assets or currencies using blockchain technology, as well as create favorable conditions for investments and doing business in Ukraine. The Ministry of Digital Transformation of Ukraine and Binance will create a working group to develop a strategy for implementing blockchain technology and create new virtual assets and virtual currency market in Ukraine.
Vice Prime Minister, Minister of Digital Transformation of Ukraine Mikhail Fedorov notes:
– By signing the Memorandum with Binance, we open Ukraine to one of the largest cryptocurrency exchanges in the world and let Binance legally start their business here. Thanks to this step, both Ukrainians and global cryptocurrency companies will be able to operate in Ukraine openly and transparently. In addition, we welcome Binance’s willingness to provide us with advisory assistance as the experience of one of the leading world players in this field is very useful for us at the stage of forming the legislative framework and the conditions for market regulating.
It seems that in Ukraine the most ambitious experiment on the crypto adaptation will be realized. The fact is that the new President of Ukraine Vladimir Zelensky announced the start of large-scale privatization by the end of this year. And cryptocurrencies could be used at wide scale in this campaign.